The foreign secretary defeated Rishi Sunak in the race, winning 57.4 per cent of Tory members’ votes to former chancellor’s 42.6 per cent.
Truss is the third woman to hold the position of Prime Minister, following on from Margaret Thatcher and Theresa May. She takes over as Prime Minister from Boris Johnson, who resigned in July after a number of party scandals and with the looming cost of living crisis.
Thoughts are now turning to what policies Truss will implement and how it could affect the country. WeAreTheCity have taken a look at some of the predictions and how it could affect women.
It’s been reported that Truss is considering an energy price freeze to help tackle the cost of rising energy bills.
Households in the UK are facing a record 80 percent jump in energy bills – with many fearing the worst over the winter months. The energy price cap will rise from £1,971 to £3,549 in October and is predicted to jump again to £5,387 by January 2023.
During the leadership race, Truss promised an announcement on how to help people with bills within her first week if elected, but declined again to give any details.
Truss has spoken of her policy of cutting taxes, in the hope of boosting the economy and helping people through the energy crisis.
During her leadership campaign, she promised to reverse the recent increase in national insurance and to cancel a scheduled rise in corporation tax, at a combined cost of about £30billion a year.
Truss will enter Downing Street as more and more worker’s walk out on strike. Over recent weeks, railway staff, Royal Mail workers, and criminal barristers have taken industrial action over pay and rights.
Truss has been criticised during the leadership campaign after leaked audio revealed she had said British workers need to display “more graft.”
Liz Truss is expected to travel to Balmoral on Tuesday to meet Queen Elizabeth II, where she will be asked to form a Parliament. It is then expected for Truss to make an official announcement following this.