Liz Truss said in a recent interview she is prepared to be "unpopular". Lifting the ban on bankers' bonuses many will not like it. Cutting tax, she admitted will mostly benefit the better off. Ms. Truss in doing such moves claims it will fire up the economy. However, many critics including some Tories say it's a huge risk. The Prime Minister only has 2 years to make these policies work. She and new Chancellor Kwasi Kwarteng will soon be having a mini-budget. Obviously, to deal with the rising cost of living the UK is facing.
Ms. Truss has kept her promise to freeze energy bills for 2 years. Thus bills will be frozen at £2,500 for the next two years. How helpful this will be for energy consumers remains to be seen. £400 to help energy consumers will become available paid by the government to energy companies. How this money will be distributed to bill-payers is up to the energy companies. For example, British Gas will pay that money when bills are paid. The money will come online from 1 October in installments. The installments will start from £66 and rise to £67 monthly. This period will last from October 2022 and finish in March 2023. What happens after that is down to the government. Hopefully, the Truss administration will extend this help and even increase it. Liz Truss was the Foreign Secretary under Prime Minister Boris Johnson. However, what happens at home may decide Truss' future.
Truss controversially is looking at fracking as a means for the UK to be self-sufficient in energy. Also, nuclear energy and even fossil fuels like coal and oil. Without a doubt, the Ukraine war has affected gas supplies, especially in Europe as Germany has found out. However, the UK receives only 3% of its gas from Russia. So the question has to be asked are the government and energy companies using the Ukraine war as an excuse to fleece the public?
Liz Truss gave a talk at the United Nations. Truss rounded on Vladimir Putin. She accused the Russian President of "sabre rattling" as Putin said he would use all means to defend Russia. Ms. Truss continued that Russia's adventurism in Ukraine was a "catastrophic failure". She said Mr. Putin was increasingly desperate in sending Russian reservists to their deaths.
Ms. Truss labeled Putin a hypocrite in calling himself a democrat. Mr. Putin said he invaded Ukraine to liberate the country from Nazis. Clearly, as the Prime Minister stated Putin himself is behaving like a dictator. Look at his actions both at home, in Ukraine, and further afield. As things get more difficult for Vlad the Invader in Ukraine, he is making more and more bogus claims. Ms. Truss highlighted this fact in her speech at the United Nations security council.
Liz Truss while she was Foreign Secretary said Putin would ultimately fail in Ukraine. As Prime Minister, she repeated this mantra in her speech to the United Nations in New York.
In the US Ms. Truss met President Biden. Ms. Truss Indicated to him and to the UN that the UK would spend 3% of GDP on defence. This is in light of Russian aggression and other threats like China, Iran, and North Korea.
Ms. Trust mentioned that collective support for Ukraine had blunted the Russian war machine. Support for Ukraine in financial and military help must continue. If not Ukraine would be at a disadvantage in the conflict.
Liz Truss is the 4th Conservative Prime Minister in 12 years of rule. Let us hope as the general election draws near in 2024 she is the last.