Liz Truss announced as new leader of the Conservative party and Prime Minister

Liz Truss has been elected as the new leader of the Conservative Party and tomorrow will go to the Queen and be asked to become the new Prime Minster.

The former foreign secretary beat rival and former Chancellor Rishi Sunak to the position by a majority of  just over 21,000 votes from members of the Conservative Party.

She has pledged to unveil a vast support package to deal with surging energy costs, with her team discussing plans for a gas and electricity price freeze with industry leaders.

She has pledged to move rapidly to set out a new economic policy. and reveal her energy support package within the next week.

Responding to the announcement of Liz Truss as the new Prime Minster, Marco Forgione, Director General of the Institute of Export & International Trade, said : “On behalf of the Institute of Export & International Trade 7000 members and our wider community of over 30,000 businesses. I congratulate Liz Truss on her victory on becoming the British prime minister.

It is great to have an incoming Prime Minister with such a strong background in international trade. The progress made on Free Trade Agreements (FTAs) under her tenure as Secretary of State for International Trade was significant. That trade was also integral to the development policy she pursued as Foreign Secretary sent a strong message to the World that the UK is first and foremost a trading nation and a dedicated and committed ally.

She takes over during what is a particularly challenging and turbulent economic period. We want to see an export led recovery that ensures that UK businesses have the tools, the skills, the knowledge and the expertise to seize the opportunities that arise through international trade.

In particular we would like to see the government establish an MSME task force a micro small and medium enterprise which will look to provide immediate help and support on issues such as the rising cost of fuel and energy.

We stand ready to support her in any way that we can.”

Tony Danker, CBI Director-General, added his thoughts to the announcement saying:  “Congratulations to the new Prime Minister. This is an extraordinarily difficult time to be leading the country, and she has businesses’ full support in meeting shared challenges together, head on.

“Most immediately, support for struggling households and firms in jeopardy is top of the in-tray. This may not be the pandemic, but the exceptional circumstances we now face mean Government must play a central role in supporting our economy.

“And if we’re serious about getting the UK growing again, ensuring any slowdown is short and shallow, we need a serious plan for growth. It needs to be bold, unconventional and rooted in the very real opportunities that still exist for the UK to thrive.”

IPSE (the Association of Independent Professionals and the Self-Employed) has today responded to the election of Liz Truss as leader of the Conservative Party and Prime Minister by welcoming her leadership and reminding her of her pledge to launch a review into IR35.

Andy Chamberlain, Director of Policy at IPSE, said: “IPSE looks forward to working with the new Prime Minister and her cabinet. The country faces a number of problems, and we hope that she outlines her plans to tackle the cost-of-living crisis, as well as the many issues facing thousands of freelancers and small businesses such as IR35, employment status, and Managed Service Company legislation.

“We also look forward to working with Truss on the promised review of the dreaded off-payroll working rules: IR35. These rules are destroying businesses and holding back the economy – and they need to change now.

“During the leadership race Truss talked about ‘tackling orthodox Treasury thinking’. If this review is to deliver meaningful change – which previous reviews haven’t – she will need to do exactly that: challenge the thinking that has led to this wretched legislation being enacted. If she makes real progress on this issue, she will achieve something that the previous three Conservative Prime Ministers couldn’t, enabling one of the most dynamic and innovative parts of the UK economy to thrive.”

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Liz Truss announced as new leader of the Conservative party and Prime Minister