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Liz Truss, a front-runner for the Tory leadership, downplayed the possibility of a UK recession on Sunday, while the man expected to be her finance minister promised “help is coming” in response to the skyrocketing cost of living. In an interview, Truss, who is currently leading the polls to defeat Rishi Sunak and become the next prime minister of Britain, promised to lead a “small business and self-employed revolution” if elected.
The Sun on Sunday tabloid quoted Truss as saying, “There is too much talk that there will be a recession.”
“I don’t think that’s a given. In Britain, we have the power to create opportunities.”
According to her, the UK ought to foster the economic environment necessary to develop “the next Google or the next Facebook.”
Truss continued, “It’s about that level of ambition.
Business Secretary Kwasi Kwarteng, who would likely lead the finance ministry in Truss’s administration, said he understood the “deep concern” gripping Britain as decades-high inflation began to bite in a separate interview with the Mail on Sunday.
However, he continued, “I want to reassure the British people that help is on the way. Work has already begun on ‘the best package of measures’ to enable the next prime minister to ‘strike the ground running.
After the outcome of the lengthy election is revealed on September 5, the outgoing leader Boris Johnson will be replaced by either Foreign Secretary Truss or the former finance minister Sunak.
The winner, who will officially assume office the next day, faces an uphill battle because the Bank of England has predicted a recession for later this year as well as ongoing price increases.
Sunak, his friends, and others have sharply criticised Truss for promising immediate tax cuts rather than direct financial handouts to assist individuals struggling to meet their mounting costs.
Gove supports Sunak
Of the tax-cutting proposals in the midst of the cost-of-living crisis, top UK Conservative legislator Michael Gove charged her with taking a “vacation from reality” on Saturday.
Gove, who has served in a number of cabinet positions and has previously run for Tory leader, supported Rishi Sunak instead.
The reduction in corporate tax would benefit “large corporations, not small entrepreneurs,” he continued, while Truss’ intentions to roll back a recent increase in national insurance levies designated for the health and social care sector “would favour the wealthy.”
The 54-year-old stated that he now backed Sunak after previously endorsing right-wing lesser-known MP Kemi Badenoch in the leadership race before it was down to the final two.
“I am aware of the duties involved. Rishi also has it “Added he.
Gove, who until July oversaw the government’s department for housing and communities, as well as the ministries of education and justice, said he was not expected to take on a new position.
