Liz Truss set to become next UK prime minister, inherits a challenging economic crisis

Read the Full Transcript

• William Brangham:

  As we reported, Liz Truss will take over the helm tomorrow as the United Kingdom's new prime minister after she won the support of her Conservative Party.

  As Laura Barrón-López reports, the shift in leadership comes as the country is bracing for an acute economic and cost of living crisis.

• Person:

  I give notice that Liz Truss is elected as the leader of the Conservative and Unionist Party.

  (APPLAUSE)

• Laura Barrón-López:

  Foreign Secretary Liz Truss has won the battle for Britain's prime minister seat, beating former Treasury Chief Rishi Sunak in the two-month leadership contest following the forced exit of Prime Minister Boris Johnson.

• Liz Truss, British Prime Minister-Elect:

  We have got two years until a likely next general election. And I want to deliver for people. I want to deliver lower taxes. I want to help struggling families.

• Laura Barrón-López:

  Truss secured more than 81,000 votes in an election that only allowed about 170,000 dues-paying members of the Conservative Party to participate.

  A front-runner for weeks, she was expected to win by a greater margin. She has worked for three former prime ministers, as the environment secretary under David Cameron, as justice secretary under Theresa May, and she was appointed foreign secretary under Johnson. Truss will become the U.K.'s third female prime minister, following in the footsteps of her political idol, Margaret Thatcher.

  Compared to Thatcher for her desire to cut back state intervention and reduce taxes, Truss will take office as Britain's fourth consecutive Conservative prime minister in six years at a crucial time for the nation. Truss inherits a challenging economic crisis, which she addressed in her victory speech.

• Liz Truss:

  I will deliver a bold plan to cut taxes and grow our economy. I will deliver on the energy crisis, dealing with people's energy bills, but also dealing with the long-term issues we have on energy supply.

• Laura Barrón-López:

  Britain faces record-high prices in energy, food and fuel as the war in Ukraine continues.

• Liz Truss:

  And we have to be ready for the long haul in supporting Ukraine, because we are committed to protecting freedom and democracy.

• Laura Barrón-López:

  The new prime minister also takes on the fallout of Brexit, which she originally opposed and later supported, drawing vast criticism for switching sides.

• Question:

  Chief Secretary, do you still back the prime minister's plan?

• Liz Truss:

  Yes.

• Question:

  What about a new referendum?

• Liz Truss:

  No.

• Laura Barrón-López:

  Britain's next general election is slated for December 2024. And Truss is confident that her Tory Party will deliver a victory

• Liz Truss:

  Because, my friends, I know that we will deliver, we will deliver, and we will deliver.

• Laura Barrón-López:

  Truss will begin her term as prime minister tomorrow, once Johnson formally resigns his post to Queen Elizabeth.

  For the "PBS NewsHour," I'm Laura Barrón-López.