Truss, the fourth Conservative prime minister in six years, flew to the royal family’s Scottish home to be asked by Queen Elizabeth to form a government.“We now face severe global headwinds caused by Russia’s appalling war in Ukraine and the aftermath of COVID,” the 47-year-old former foreign secretary said outside her Downing Street office.
However, she inherits an economy in crisis, with inflation at double digits, the cost of energy soaring and the Bank of England warning of a lengthy recession by the end of this year. Already, workers across the economy have gone on strike. British 30-year government bonds suffered their sharpest one-day fall since March 2020 when the COVID-19 pandemic caused turmoil in financial markets, as investors honed in on the extra borrowing Truss’s plans are likely to require.
“I will take action this day and action every day to make it happen. United with our allies, we will stand up for freedom and democracy around the world of recognising that we can’t have security at home without having security abroad.”“I look forward to deepening the special relationship between our countries and working in close cooperation on global challenges, including continued support for Ukraine as it defends itself against Russian aggression,” he said on Twitter.
“It’s time for politics to be over, folks,” he said in his farewell speech. “It’s time for us all to get behind Liz Truss and her team and her programme.” He also listed “delivering Brexit” as one of his main achievements, although polls now show that a majority of people think leaving the European Union was a mistake.
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