Liz Truss promised economic reforms to help people hit by rising fuel and food prices.
Britain has a “A harsh winter“Amid rising fuel and food prices, prime ministerial candidate Liz Truss admitted on Friday, adding that”Business as usual policies are not working.And thus special measures should be taken to prevent recession.
In an interview with Sky News, the Tory leadership spoke of optimism over the escalating energy crisis, which has been exacerbated by anti-Russian sanctions and cuts to supplies of Russian natural gas to Europe. Although the UK is no longer directly dependent on Moscow for fuel, it is still struggling with rising energy prices and rising costs of living.
“I know it’s going to be a tough winter, I want to do everything I can to make sure we’re releasing North Sea gas reserves,“said Truss, who currently serves as secretary of state.
Britain’s energy and cost-of-living crisis is intensifying, with household bills expected to exceed £3,300 ($3,971) a year this winter, according to energy consultant Cornwall Insight. As many as six million British households could face power cuts this winter if Russian gas supplies to Europe are cut off, The Times reported on Sunday, citing a Whitehall document.
When it comes to helping Britons with fuel bills, Truss has promised a temporary ban on the Green Energy Levy.
“Business as usual policies are not working, we need to do more and that is why I am committed to reforming the economy and keeping taxes low.“The Truss, which previously promised £30 billion in taxes, explained.
Among other priorities, he discussed reducing the cost of national insurance which, in his opinion, “Put more money in people’s pockets.
Truss’ rival, former UK chancellor Rishi Singh, has been critical of his fiscal style. They claim that the proposed tax cuts could increase inflation, leading to “It will be incredibly damaging to millions of people across the UK.
The winner of the leadership race will be announced on September 5 following a postal vote by around 150,000 Tory party members.
Meanwhile, the coming winter is also a cause of deep concern for EU officials. Earlier this week, the bloc’s top diplomat, Josep Borrell, warned that the EU could run out of gas during the coming cold spell.
“Europe is facing a perfect storm: energy prices are rising, economic growth is slow and winter is coming.“They said.
Russian President Vladimir Putin has dismissed Western accusations that Moscow could cut off gas supplies to the European Union, saying Russian energy giant Gazprom “Ready to pump as much as needed.“But that the EU had”Everything closed itself.He previously called for the bloc’s sanctions on Russia. “Crazy and careless,“And accused EU leaders of economic culpability”suicide“Under the orders of the United States.
Even before the conflict between Russia and Ukraine, British consumers were seeing huge increases in energy prices. The price cap announced by regulator Ofgame in early February, which came into effect in April, represents a 54% increase from the previous rate.