Who is moving to Downing Street? Liz Truss is about to have her… & More Latest News Here


Anything but a victory for Foreign Secretary Truss in the election for the Tories leader and thus for the prime minister of Great Britain would be a surprise. The result will be announced at 1:30 p.m. There is a need for action, especially in the energy crisis.

Boris Johnson has started one of his last days as British Prime Minister. The British Tories want to announce on Monday (1.30 p.m. CEST) who will succeed him as head of the Conservative Party and thus also as Prime Minister. Foreign Minister is the favorite lic truss, which is well ahead of her rival and ex-Finance Minister Rishi Sunak in polls. The British bookmakers rate Sunak’s chance of winning at just two percent. Up to 200,000 party members have been able to vote by letter or online in the past few weeks on who should move into Downing Street and succeed Johnson.

The candidates will be informed a few minutes before the announcement. After the announcement of the results, things will go quickly. As early as 1 p.m. local time, the winner’s team should start “onboarding” in Downing Street, i.e. prepare for taking office. Favorite Truss could already move in on Tuesday. On Wednesday, the new prime minister will be answering questions in the British Parliament.

Johnson’s final hours in office

The 58-year-old Johnson is leaving office after numerous scandals under pressure from his cabinet. The 47 year old truss is assigned to the right wing of the party. In the inner-party election campaign, she was able to score points above all with the plan to immediately lower taxes.

After the winner was announced on Monday, the change at the top of the British government will take place on Tuesday. Both Boris Johnson and his likely successor travel to Scotland and are successively received by Queen Elizabeth II, who is spending her summer holiday there. The fact that the audiences take place there and not in London’s Buckingham Palace is extremely unusual, but the journey from Scotland to London would be too difficult for the now 96-year-old monarch. Back in London, an inaugural speech follows in Downing Street.

Truss will be “fiscally responsible”

UK Business Secretary Kwasi Kwarteng believes Liz Truss will target trend growth of 2.5 percent if she becomes prime minister, he wrote in Sunday’s Financial Times. Truss will be “fiscally responsible” and work to lower the debt ratio relative to GDP to decline over time, he added.

Truss is also considering freezing energy bills for millions of households this winter if she becomes prime minister, the Telegraph newspaper reported late Sunday, citing campaign sources and energy company insiders familiar with the talks.

Economic mood gloomy

Business sentiment in the UK deteriorated more than expected in August. The S&P Global Purchasing Managers’ Index fell 2.5 points to 49.6 points, market researchers said on Monday in London, according to a second estimate. The indicator has thus fallen below the growth threshold of 50 points.

It thus signals a contraction in economic output. It is the lowest level since February 2021. On average, economists had expected the initial estimate of 50.9 points to be confirmed.

What to expect from Truss?

From what she’s hinted, the Truss reign will largely be a continuation of the Johnson years. A former cabinet colleague said unflatteringly that the future head of government was “like Boris, but without the charm”. In any case, Truss is a staunch Brexit supporter.

However, the British are currently completely fixated on the black clouds that have gathered on the economic horizon: high inflation – it is already over ten percent – ​​and the dramatic increase in energy prices from October are signs that could trigger the worst crisis in decades . Even sober observers warn of social unrest unless the state steps in with a massive bailout package for households and businesses. Former Tory MP and journalist Paul Goodman recently said the new PM would soon “disappear in an economic blizzard”.

>> Read more about Liz Truss’ positioning in our correspondent Peter Stäuber’s analysis


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