From Anti-Thatcher Protests to ‘Reaganomics': Meet the U.K.'S New Prime Minister
CNBC has a whirlwind guide to the U.K.'s new prime minister, with some of the more standout moments in her political career so far.While she's been elected the new leader of the ruling right-leaning Conservatives Truss cannot be said to have been born and bred into the Conservative Party tribe.
Truss married accountant Hugh O'Leary in the year 2000 and in the ensuing decade, she threw herself into politics, attempting to be elected as a Conservative Member of Parliament. Ahead of the 2016 referendum on EU membership, Truss campaigned on the"Remain" side but later said she regretted that stance and backed Brexit. In Boris Johnson's government she has held the position of international trade secretary and then, until now, foreign minister.There has been speculation that Truss is a fan of"Reaganomics" and could pursue similar policies in power. Reaganomics refers to the economic policies implemented by former U.S.
Nonetheless, Truss does appear to favor policies akin to those during the era of"Reaganomics." She pledged tax cuts on the campaign trail, including reversing a rise in the rate of National Insurance tax as well promising no new tax rises and no energy rationing. She has already announced that she would temporarily suspend green levies on energy bills but experts say she will have to dig far deeper to tackle a looming crisis with British energy bills expected to hit over $4,000 a year per household in 2023 if action is not taken.Just how far Truss will be able to realize her economic pledges remains to be seen, of course, with economists saying it's easy to make promises on the campaign trail.
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