Trussonomics? What to watch as the new UK prime minister battles multiple crises
New British Prime Minister Liz Truss delivers a speech outside Downing Street, in London, Britain September 6, 2022. Toby Melville | Reuters LONDON — New British Prime Minister Liz Truss faces a confluence of economic challenges, but will need to balance her own ideals with the immediate needs of the country. Last week, Truss announced an emergency fiscal package involving the capping of annual household energy bills at £2,500 (£2,891) for the next two years, with an equivalent guarantee for businesses over the next six months and further support in the pipeline for vulnerable sectors. The plan is expected to cost the public purse more than £130 billion, with new Finance Minister Kwasi Kwarteng expected to outline how it will be funded later this month, but is broadly seen by economists as a positive step to limit inflation and reduce the immediate risk of recession. Former Finance Minister Rishi Sunak's energy rebate package for households will remain in force, while the Bank of ...