British Chancellor Liz Truss said this Sunday, in an interview with the tabloid Sunthat the prospect of an economic recession was “not inevitable” and that it was possible to “seize the opportunities” in the UK.
Liz Truss, in a very good position to win according to the polls, opposes former Finance Minister Rishi Sunak on how to react to a particularly tense economic and social context, with inflation above 10% and strikes in many sectors against the erosion of power acquisitive.
According to her, the United Kingdom must create the economic conditions to produce “the next Google or the next Facebook”. “It’s about that level of ambition,” she said, vowing she would lead a “small business and self-employment revolution” if she came to power.
“Out of step with reality”
Boris Johnson’s successor will be announced on September 5 and the match is likely to be between Liz Truss and Rishi Sunak, whose economic policies clash. The winner, who will officially take power the following day, will face a daunting challenge as the Bank of England predicts a recession later this year and a continued rise in prices, which will fuel inflation.
Liz Truss promises massive tax cuts while her rival first wants to reduce the inflation that is causing a historic drop in the purchasing power of British households. Conservative Party figure Michael Gove announced his support for Rishi Sunak on Saturday, saying he was “deeply concerned that the turn of the debate was for many out of step with reality.”
“The answer to the cost-of-living crisis cannot simply be to refuse more ‘financial aid’ and cut taxes,” the newspaper wrote. The times Michael Gove, who served eleven years in government, under three prime ministers. He argues that the proposed cuts “would favor the rich” and “big businessmen”, to the detriment of small businessmen and the most precarious.
Conservative activists – some 200,000 – have until September 2 to elect their new leader in a mail-in ballot. Since the party has a majority in parliament, the winner will become prime minister, replacing Boris Johnson, who resigned in early July after multiple scandals.
Source: BFM TV
