Liz Truss believes in ‘hope over fear’ and urges the public not to give up as she pledges to have a “clear plan” to address the cost-of-living crisis.
Liz Truss has urged the people not to be fearful of rising energy costs.
Ofgem said that the annual price ceiling would increase from £1,971 to £3,549
Companies have requested that the ceiling be maintained at its current level.
Liz Truss has urged the general population not to succumb to panic over rising energy costs as she formulates a plan to combat the cost-of-living crisis.
The frontrunner for the Tory leadership vowed to adopt an upbeat stance if, as expected, she formed the new government within a week.
The Foreign Secretary told The Mail on Sunday, “I have a clear plan to lead Britain through this storm and out the other side, and the commitment to carry it out.” “A recession is not inevitable, but we must avoid talking ourselves into one.” I am opposed to managed decline and will not accept it. I believe in hope over fear.’
The words of Ms. Truss are in response to apocalyptic predictions that the combined effect of the bills, double-digit inflation, and increasing interest rates will wipe out the savings of millions of people in the absence of considerable government involvement.
The frontrunner for the Tory leadership vowed to adopt an optimistic tone if, as expected, she formed the next government within a week.
The energy industry has urged the government to freeze the cap at its current level for two years, at a cost to the public of over £100 billion.
The energy regulator Ofgem stated on Friday that the annual price maximum would increase from £1,971 to £3,549 on October 1, with analysts predicting further increases to as much as £7,000 by April of next year.
As a result of Vladimir Putin limiting gas supply to Europe following the invasion of Ukraine, wholesale gas and energy prices have reached all-time highs.
The energy industry has urged the government to freeze the ceiling at its current level for two years, a move that would cost taxpayers almost £100 billion.
In addition to her commitments to reverse increases in National Insurance contributions and eliminate green levies on energy bills, the Foreign Secretary is working on proposals to deliver billions of pounds in targeted support to seniors and the poorest households.
The Foreign Secretary is developing proposals to deliver billions in tailored support to seniors and the poorest households.
Ms. Truss, who is developing the support package with Business Secretary Kwasi Kwarteng, who is generally likely to become her Chancellor, stated, ‘I am ultimately an optimist and I believe that things can and will improve, but only if we take bold and immediate action.
“I am aware that circumstances are tough and that people are under tremendous financial duress. If elected Prime Minister, I will offer immediate assistance to make life easier. I will focus on developing the economy and addressing the underlying causes of the current issues we confront – I will take steps to ensure that Britain never finds itself in this position again.
She continued, “To achieve a brighter future, we must do things differently and be willing to take risks. As Prime Minister, I will unleash the post-Brexit potential of the United Kingdom. I will liberate our enterprises to promote our expansion.
“I will reduce the tax burden from its 70-year high, so that businesses are not penalized for generating jobs or delivering the goods and services we use every day, and so that individuals can retain more of their money.
“I would repeal the National Insurance increase so that businesses do not have to pay more to employ workers. A pessimistic outlook and a management approach to government are ineffective.
My strategy will unleash the full potential of our wonderful nation and get our economy thriving again; it is the only way to get us through the upcoming difficult times.
In spite of economists’ forecasts that inflation could reach 18 percent, which would force interest rates considerably above the present 1.75 percent, the leading candidate for the presidency made optimistic statements.
A senior member of Ms. Truss’s campaign stated, ‘Liz understands that this fall and winter will be difficult, but she is fundamentally optimistic and confident about the country’s future. She has a clear plan to bring us through difficult times and out the other side, as well as a clear plan to get the country operating at full capacity in the long run.
It is highly anticipated that Business Secretary Kwasi Kwarteng will become her Chancellor.
She will stand up to those who disparage our nation, to trade union barons, to vested interests holding the economy behind, and to tyrants like as Putin.
She will provide the rough love the nation requires.
Yesterday, the Foreign Secretary also pledged to ensure the safety of the United Kingdom in the face of growing threats from authoritarian governments.
She stated, “My top priority as prime minister will be to safeguard the nation.” We believed that peace and stability were inevitable, but this is not the case. The era of apathy has ended. Our security is under greater jeopardy than it has been in decades due to the increasing perilousness of our world.
We must ensure that the United Kingdom has the deterrents it needs to lead global efforts to combat aggression from authoritarian countries such as Russia.
FACT BOX HEADING
If Liz Truss wins the leadership battle, she intends to hire her own economics guru, echoing Margaret Thatcher’s method.
The Foreign Secretary is seeking advice from leading people in the City and academics on how to address the cost-of-living crisis and maximize prospects post-Brexit.
While Mrs. Thatcher was in office, her economics adviser Sir Alan Walters argued with then-Chancellor Nigel Lawson over his plan to join the European Monetary System, resulting in the resignations of both men.
During the reign of Margaret Thatcher, her economics adviser Sir Alan Walters (shown) battled with then-Chancellor Nigel Lawson over his intention to join the European Monetary System, resulting in both resignations.
However, Miss Truss is believed to believe that her connection with Business Secretary Kwasi Kwarteng, who is poised to become Chancellor, is strong enough to withstand the appointment, which is part of her ambition to give Downing Street more authority over the United Kingdom’s economic policies.
Ms. Truss is rumored to believe that the Treasury has grown too dominant, allowing succeeding chancellors, such as Rishi Sunak, to thwart changes.
She plans to reassess the parameters of the Bank of England’s independence, privately believing that Governor Andrew Bailey has been “asleep at the wheel” as inflation rises to double digits and interest rates are expected to increase.
The Minister of State is also aware that, if elected, Miss Truss intends to’rehabilitate’ supporters of her challenger for the leadership, Mr Sunak, when making appointments to her government, as part of her ‘best players on the field’ attitude.