Liz Truss named as Next Prime Minister

Posted by Mesa Financial on 6th September 2022 -

The industry requires a level of certainty, especially as we head into a predicted recession (not that the media have made a thing of it).

Liz Truss is set to succeed Boris Johnson as the next UK prime minister following a 57.4% win against Rishi Sunak. Truss said it was an honour to be elected and promised to “deliver for our country” and deliver a “great victory” at the next general election in 2024.

”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. And I will deliver on the National Health Service. But we all will deliver for our country.”

There are number of key issues that will certainly be at the forefront of the governments agenda that require a sense of urgency:

• Energy crisis 
• Soaring inflation 
• Current war in Ukraine

However, when construction output in the UK is more than £110 billion per annum and contributes 7% of GDP, it’s fundamental the newly appointed housing minister starts to tackle the most fundamental issues, planning being a widely discussed topic at present which is delaying the construction of new housing.

There was speculation early in the Tory leadership campaign that Jacob Rees-Mogg would be the new Housing Secretary, but these rumours have subsided in recent weeks.

The current ministers at the Department of Levelling Up, Housing and Communities - all of which are ranked below the Housing Secretary position - are Paul Scully, Eddie Hughes, Lia Nici and Marcus Jones. Their successors are likely to be named this week.

Chris Treadwell – Senior Associate