British Foreign Secretary Liz Truss said in a tabloid interview on Sunday The Sunthat the prospect of an economic recession was “not inevitable” and that it was possible to “seize opportunities” in the United Kingdom.
“We hear too often that there is going to be a recession,” Ms. Truss told the tabloid. The Sun sunday. “I don’t think it’s inevitable,” she said. “We can unlock opportunities here 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 exceeding 10% and strikes in many sectors against the erosion of purchasing power.
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, promising that she would lead a “small business and freelance revolution” if she came to power.
Boris Johnson’s successor will be announced on September 5, and the match is likely to be between Ms Truss and Mr Sunak, whose economic policies clash.
The winner, who will officially take power the next day, will face a daunting challenge, with the Bank of England predicting a recession later this year and a continued rise in prices, fueling inflation.
Liz Truss promises massive tax cuts, while her rival first wants to reduce inflation which is causing a historic drop in the purchasing power of British households.
Michael Gove, figure of the Conservative Party, announced Saturday to support Rishi Sunak, saying he was “deeply concerned that the turn of the debate was for many out of step with reality”.
“The response to the cost of living crisis cannot simply be to reject new ‘financial aid’ and cut taxes,” the newspaper wrote. The Times Mr Gove who served eleven years in government, under three prime ministers.
He argues that the proposed reductions “would favor the rich” and “big business”, to the detriment of small entrepreneurs and the most precarious.
“I don’t see how saving the FTSE 100 executives’ stock options should come before supporting the poorest in our society, […] it can’t be the right priority,” Mr Gove said.
Conservative activists – around 200,000 – have until September 2 to choose their new leader in a postal vote.
With the party having a majority in Parliament, the winner will become Prime Minister, succeeding Boris Johnson who resigned in early July after multiple scandals.