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Recession 'inevitable' says Liz Truss, favorite to succeed Boris Johnson

Recession ‘inevitable’ says Liz Truss, favorite to succeed Boris Johnson

British Foreign Minister Liz Truss said in a tabloid interview on Sunday the sunThe prospect of an economic recession is “inevitable” and the UK is likely to “take chances”.

“We often hear that there will be a recession,” Ms Truss told the tabloid. the sun Sunday. “I don’t think it’s inevitable,” he said. “We can open up opportunities in the UK.”

Liz Truss, well-placed to win according to the polls, is up against former finance minister Rishi Sunak on how to react to a particularly tense economic and social environment, with inflation above 10% and strikes across multiple sectors against erosion of purchasing power. .

According to him, the UK needs to create the economic conditions to create “the next Google or the next Facebook”.

“It’s about that level of ambition,” he said, promising to lead a “small business and freelance revolution” if elected.

Boris Johnson’s successor will be announced on September 5 and the race will be between Ms Truss and Mr Sunak, whose economic policies clash.

The winner, who officially takes office next day, will face a tough challenge later this year, with the Bank of England predicting that recession and prices will continue to rise, fueling inflation.

Liz Truss is promising massive tax cuts, while her rival wants to cut inflation first, causing a historic drop in the purchasing power of British households.

Conservative Party leader Michael Gove announced his support for Rishi Sunak on Saturday, saying he was “deeply concerned that the turn of the debate is unrealistic for many”.

“The answer to the cost-of-living crisis cannot be to cut taxes and reject new ‘financial aid,'” the newspaper wrote. The Times Mr Gove served in government for eleven years under three Prime Ministers.

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He argues that the proposed cuts would favor “the rich” and “big business” to the detriment of small entrepreneurs and the most vulnerable.

“I don’t understand how FTSE 100 executives can save share options before supporting the poor in our society. […] That cannot be the right priority,” Mr Gove said.

Conservative activists – some 200,000 – have until September 2 to elect a new leader in a postal vote.

Because the party has a majority in parliament, the winner will succeed Boris Johnson, who resigned in early July after a string of scandals.

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