5 key takeaways from new new PM Liz Truss’ maiden speech; ‘UK can ride out the storm’
There are speculations that Truss is likely to swing in a £100 billion ($113 billion) energy stimulus package to shrink the cost-of-living crisis in the UK.
The newly sworn-in British Prime Minister Liz Truss on Tuesday, September 6 delivered an impassioned speech outlining her agenda to tackle the mounting economic, political and other glaring challenges such as double-digit inflation. She laid bare her immediate priorities as UK’s leader whilst she assumed her role at 10 Downing Street after returning from Scotland. Here are the five key takeaways from her first-ever speech as the premier of the United Kingdom.
1. Britain can ‘ride out the storm’, will get to ‘working, building and growing better
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In the face of the looming energy and costs crisis inherited from the former Boris Johnson administration, Liz Truss pledged that she will get Britain working, building and growing better and that the Brits will not have to foot “unacceptable” energy bills. She vowed to secure energy supplies and bring the costs associated with essential commodities due to inflation. Truss underscored that she would expand her focus on the NHS, and make healthcare affordable for families. The new Prime Minister of the UK swore to steer Britain towards the path of success by tackling the economy, energy and the NHS effectively with workable policies.
“I am determined to deliver,” said the British Prime Minister Liz Truss, adding “Our country was built by people who get things done.”
2. Determined to deal with energy crisis ’caused by Putin’s war’
Liz Truss in her first ever speech declared that she will “deal hands-on” with the energy crisis caused by Putin’s war. “I will take action this week to deal with energy bills and to secure our future energy supply,” she stressed. Shortly after she had won the Tory leadership contest to become the next Prime Minister, Truss promised to deliver on the surging energy costs and to cut taxes as well as cap the energy bills to alleviate the high costs for the Britons. The 47-year-old, formally appointed by the Queen at Balmoral Castle, said that she will roll in a “bold” policy of tax cuts to rescue the flagging UK economy in order to stop it from tipping into recession.
There are speculations that Truss is likely to swing in a £100 billion ($113 billion) energy stimulus package to shrink the cost-of-living crisis faced by the British domestic households.
3. Truss wants to turn Britain into an ‘aspiration nation’
The British Premier is determined to be a “hugely consequential PM” like her predecessor Boris Johnson. As Russia wages a war in Europe’s east, Truss emphasized that it was time to work on the immediate issues that have been holding Britain back. “We need to build roads, homes and broadband faster,” she maintained, adding that she will reduce the burdens on families as the new leader of the UK. “We have what it takes to transform Britain and turn it into ‘an aspiration nation,'” Truss stressed.
4. New UK PM warns Britain faces ‘global headwinds’
UK Prime Minister Liz Truss warned that Britain now faces “global headwinds” such as the novel Coronavirus pandemic, and Russia’s brutal invasion of Ukraine, the latter issue being the main focus of her predecessor, Boris Johnson. Truss, the former foreign secretary held a similar stance on her foreign policy priorities. She iterated that she aims to create more high-paying jobs, make the UK safe streets safer “where everyone everywhere has the opportunities they deserve.” She vowed to bring the country’s National Health Service “on a firm footing.”
5. Truss promises to boost business-led growth and investment
Liz Truss is invested in confronting the enormous economic challenges and has plans to introduce a “bold plan” to boost the economy via tax cuts and reforms that would “boost business-led growth and investment.” “We can become the modern brilliant Britain that I know we can be,” Truss concluded. It is speculated that Truss will make it her aim to get to 2.5% trend growth will be “fiscally responsible” and is on the road to reducing the debt-to-GDP ratio over time.
