February 1, 2023

Liz Truss becomes new UK Prime Minister

LIz Truss
LIz Truss

Liz Truss became the Prime Minister of the United Kingdom on Tuesday following a transfer of power from Boris Johnson.

Truss, 47, became the third female Prime Minister in British history after winning the most votes in the Conservative Party leadership contest to replace Johnson who announced his resignation in July.

She comes into power at a time the United Kingdom faces its worse economic crisis in decades, including a deepening cost-of-living, a crumbling Healthcare and endless labor strikes.

More importantly, is the rising energy cost, with the Bank of England anticipating that inflation in the UK will jump to 13 percent as the energy crisis worsens and the country enters a recession before the end of the year.

Goldman Sachs has warned that inflation could reach up to 22 percent if natural gas prices remain elevated at current levels.

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