Lizz Truss announces as the new Prime Minister of UK

Lizz Truss wins as Britain's next prime minister on Monday, winning a leadership race for the governing Conservative party at a time when the country faces a cost of living crisis, industrial unrest, and a recession.

After weeks of an often bad-tempered and divisive leadership contest that saw the foreign minister face off against former finance minister Rishi Sunak, Truss came out on top in a vote of Conservative Party members.
Lizz Truss will fly to Scotland on Tuesday to see Queen Elizabeth, who will request that the new ruler form a government.

Truss has long been considered the favourite to succeed Johnson, and if chosen, he would be the party's fourth prime minister since the 2015 election. Over that time, the nation has been tossed from crisis to crisis, and now faces what is expected to be a protracted recession brought on by skyrocketing inflation that peaked in July at 10.1%.  

Foreign minister under Boris Johnson, Truss, 47, has promised to act quickly to tackle Britain's cost of living crisis, saying that within a week she will come up with a plan to tackle rising energy bills and secure future fuel supplies. 

She has signalled during her leadership campaign she would challenge convention by scrapping tax increases and cutting other levies that some economists say would fuel inflation.

This, together with a promise to examine the Bank of England's mandate while preserving its independence, has pushed some investors to sell government bonds and the pound.