New UK PM Liz Truss outlines 'bold plan' for battered economy

Newly-elected UK Prime Minister Liz Truss in her maiden speech reiterated her promise of 'tax cuts' to revive country's battered economy.

She said her 'bold plan' for reforms will focus on bringing UK back to 'working, building and growing' mode.

The 47-year-old Conservative Party leader said her government will "transform Britain into an aspirational nation with high paying jobs, safe streets and opportunities."

Truss also promised to deal "hands-on" with the energy crisis prompted by Russia-Ukraine conflict saying that the country faces the global headwinds caused by the war in Ukraine and Covid."

Earlier in the day, Truss had travelled to Queen Elizabeth II's Balmoral Castle residence to meet the 96-year-old monarch who asked her to form a new government.

Boris Johnson formally resigned as the head of the UK government in an audience with the Queen.

Lauding her predecessor, Truss said Johnson delivered Brexit, the Covid vaccine and stood up to Russian aggression. "History will see him as a hugely consequential prime minister," she added.

Truss is the 15th Prime Minister to serve during Queen Elizabeth II’s reign, the first being Winston Churchill in 1952. She is also the third female premier of the country.

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