Liz Truss promises Britain can 'ride out' energy crisis in first speech as prime minister

In her first speech in the role, the conservative party leader acknowledged the economic headwinds facing Britain

New British prime minister Liz Truss outside 10 Downing Street. Picture: James Manning/PA Wire

The new British prime minister Liz Truss said Britain would “ride out the storm” as she prepared a multibillion-pound package to help people cope with soaring energy costs.

In her first speech in the role, she acknowledged the economic headwinds facing the country but promised action this week to help with energy bills.

Speaking in Downing Street, she said: “I’m confident that together we can ride out the storm, we can rebuild our economy and we can become the modern brilliant Britain that I know we can be.

“This is our vital mission to ensure opportunity and prosperity for all people and future generations. I’m determined to deliver.” 

Ms Truss became prime minister in Balmoral after an audience with Queen Elizabeth, who had earlier received Boris Johnson’s resignation.

While Mr Johnson had delivered his farewell speech in sunshine, Ms Truss had to dodge torrential showers in Westminster for her address from a podium outside the black door of No 10.

She vowed to create an “aspiration nation”, promising to tackle the issues that have been holding Britain back for years by building “roads, homes and broadband faster”.

In an echo of Winston Churchill, she promised “action this day” to deliver her plans to transform the country.

But in an acknowledgement of the immediate problem facing households across the country, she said: “I will take action this week to deal with energy bills and to secure our future energy supply.” 

A British government source confirmed a report in The Times that the energy freeze will be around the £2,500 mark, although an insider in the Truss camp said “nothing is finalised yet”.

The plan is based on the current £1,971 energy price cap plus the £400 universal handout announced under Mr Johnson’s government.

Help is also expected for business customers struggling with soaring bills which are not covered by the existing energy price cap in England, Scotland and Wales.

 

“This is our vital mission to ensure opportunity and prosperity for all people and future generations. I’m determined to deliver.”

Ms Truss said she was honoured to take on the role at "such a vital time" for Britain. 

She also paid tribute to her predecessor Boris Johnson as a "hugely consequential" prime minister.