After the Queen's Funeral, Budget on the Way - After Brexit/After Boris

Guardian: Reports " Liz Truss likely to visit US and hold mini-budget next week.....PM expected to attend UN meeting after Queen’s funeral, with ‘fiscal event’ likely to follow before end of next week  "

Lets Get Real:

The Truss Government has to follow through with TAX CUTS, the PM promised that in her leadership bid, the National Insurance hike will be dropped, also the PM should look at cutting business rates and individual taxes.  The UK PM has to jump start the economy, before the Conservative Party conference, that is open to question, the Conservative Party will show respect due the death of the Queen.  In other words politics comes back, the cost of living crisis has to be dealt with, also the PM needs to go to the Ukraine to support the Ukrainian people against Russia.  It is going to be a rough and hard winter, and one never knows that Putin will do, if he is running out of options he might used a low level nuclear device, Putin will feel like a caged animal and he is under critical review from his right, who want tough action. 

Truss Government to CAP Energy Costs = 150 Billion - Truss Era/After Boris/After Brexit

Sky News: Reports " Liz Truss to set out plan to help households and businesses with soaring energy costs....reported to cost up to £150bn.  "

Lets Get Real:

PM Truss is going BIG, she knows that this decision on a cap on energy prices will either lift her in the polls, ready for the 2024 general election or it will sink her.  The freeze of gas prices should go down well with the voters, and help for business will save jobs.  Also inflation will go down.  The cost of the scheme, will be paid by future generations, life is tough, but then in the decades ahead, most of us will be pushing up the daises, thus not our problem.  The Labour Party will find it hard to argue that the scheme is WRONG, the Truss Government is nicking their idea, that is the problem with Opposition, you might come up with a good idea, then the Government takes it on and their idea.  The Labour Party wants a windfall tax, Truss has said a CLEAR NO, this is against Conservative theory, the Chancellor Sunak has already taxed the companies with a windfall tax, this was opposed by Truss in her leadership contest with Sunak.  The polls will be interesting, one would think that the Conservatives would narrow the lead with Labour, also the tax cuts should also gain support.  Thus far so good for Truss. 

Trust Truss - First Full Day - After Boris/After Brexit

BBC News - Live Blog: Reports in its 1.44pm post the following, " No 10 rules out another windfall tax on oil and gas companies....Downing Street says the current windfall tax - introduced by then Chancellor Rishi Sunak - on the soaring profits of large oil and gas firms will not be scrapped. But it is ruling out further such measures. "

Lets Get Real:

It has been a hectic day for the new PM, she has appointed her Cabinet, they are nearly all friends of Truss or supported her in the leadership campaign, in fact many were contenders themselves for the top job.  It always wise to keep the opposition close, you can see when there are problems if they will be loyal.  The main rival, Rishi Sunak does not get a job and his supporters are also out at Cabinet level.  Will be interesting to see when it comes to Ministers of State.  Today was the first PMQs for Truss, she did well, none of the fun or bombast of Boris, sometimes you need a more steady hand after someone like Boris.  The PM has shown she is a FIRM Conservative, there will be no windfall tax on energy companies, that draws a clear line with LABOUR.  They want to tax everything in sight!  The big government statement on the energy freeze will come tomorrow and and will be presented by the PM.  One hopes that there will be a cap on energy prices that helps individuals and smaller companies, the cost has been trailed at one hundred billion, the PM has to be CLEAR, we are in STATE of Emergency, with coming out of Covid - 19 and the present WAR in Europe, this will rise the cost of gas and also push inflation up.  Thus the PM has to go BIG, the cost will be placed on the credit card of the UK.    This will take decades to pay off, but the cost of supporting people at home and support for the Ukraine, means the UK has no choice.  The PM was clear in her support for the Northern Ireland Protocol Bill if talks with the EU do not work out, and also the issue cannot be thrown in to the long grass, thus the UK might have to go in to a TRADE WAR with the EU.  A good first day for Truss. 

Liz Truss is the new PM - After Boris/After Brexit

BBC News - Live Blog: Reports in its 1.27pm post the following, " Queen asked Liz Truss to form a new government - Palace...Buckingham Palace said in a statement that the Queen had an audience with Ms Truss and "requested her to form a new administration".  "

Lets Get Real:

Thus the Liz Truss ERA starts, the reports from the news channels is that PM Liz Truss will go big on the cost of living crisis, gas prices will be frozen, this will cost the Country between one hundred billion and one hundred and thirty billion.  Also let's recall the PM stated that she would CUT TAXES, one is sure there will be other sweets for the PM to give out.  One can expect a emergency Budget within a few days, even if it is not called that.  Also the Russians might try something in the Ukraine, to see how much attention the new PM gives to it.  The Northern Ireland Protocol Bill is going through the House of Lords, that could cause problems.  The PM has a full tray of problems, the worse crisis since 1979, Truss has a few weeks to short them out. The next few hours we expect a speech from the new PM at 10 Downing Street, also the new Cabinet will be rolled out, the lower levels might take a few days.  Thus a interesting week ahead. 

PM Boris on Liz Truss winning the Conservative Party Leadership Contest - After Boris/After Brexit

Sky News - Live Blog: Reports in its 1.18pm post the the reaction on PM Boris to the election of Liz Truss as his successor , " Congratulations to Liz Truss on her decisive win. I know she has the right plan to tackle the cost of living crisis, unite our party and continue the great work of uniting and levelling up our country. Now is the time for all Conservatives to get behind her 100 per cent.  "

Lets Get Real:

Let really hopes that the PM Boris means the above, he had to face former PM May who is fast becoming the Ted Heath of the Conservative Party, a leader who cannot get over losing the leadership.  One does hope that Boris does not want to be a backseat driver, like Thatcher wanted with Sir John Major.  That was a disaster for the Major while he was PM.  The fact is that Boris, is a very charismatic leader and he is very young, thus he can come back later on if he wants too.  The Conservative  Party needs to look forward and not back, thus the UK needs tax cuts, we have the highest tax rate in 70 odd years.  The last time they were that high was in 1949 under a Labour Government.  Also PM Truss needs to go big on the cost of living, it has been suggested that the Government will freeze energy costs, that will cost one hundred billion, yes BILLION, at some point the British people must not expect the Government to bail them out, this is not this time, we have just come through the pandemic and supporting the Ukraine in its war against Russia.  Thus the energy hikes by Russia.  It is going to be a tough couple of months for new PM Liz. 

Drum Roll ..... Liz Truss is the new UK PM - After Boris/After Brexit

BBC News - Live Blog: Reports in its 1.40pm post the following, " So we now know Liz Truss will become the new UK prime minister after her victory in the Conservative Party leadership race.  "

Lets Get Real:

Thus the non breaking news that Liz Truss has won the Conservative Party leadership, that has been on the cards for WEEKS, this blog even got bored with it, Liz Truss is the deserved winner, she did not stab Boris in the back, unlike Rishi Sunak.  The newish Conservative Government can start with TAX CUTS, and getting rid of the Sunak TAX HIKES, also massive spending to help with the cost of living, in other words the high rate of inflation and the gas hikes due to the WAR in Russia.  PM Truss will have to stand up to the the EU and Russia, it has been reported that the new PM will invoke Article 16 with the EU, while pushing through the Northern Ireland Protocol Bill, while with Russia, the PM should make a visit to KYIV.  It is going to be a tough couple of months on the economic side, even if Conservative MPs become difficult they cannot throw out another PM, they are stuck with PM Truss, they are going to miss PM Boris.