Liz Truss has promised to deal with surging energy costs and to cut taxes after winning the Tory leadership contest to become the next PM.
She will succeed Boris Johnson after being formally appointed by the Queen at Balmoral Castle on Tuesday.
The 47-year-old, the UK’s third woman PM, will then announce her cabinet with jobs expected for allies Kwasi Kwarteng and James Cleverly.
She beat rival Rishi Sunak with 57% of the vote, a narrower win than expected.
In her victory speech, she promised a “bold” programme of tax cuts to grow the flagging economy and prevent the UK tipping into recession.
She will take the reins of power on Tuesday, bringing Boris Johnson’s turbulent premiership to an end less than three years after the Conservatives’ resounding election victory in 2019.
Ms Truss’s most pressing decision as premier will be how best to shield households and businesses from the soaring price of energy internationally.
Her team is understood to have been working on a support package for weeks, with an announcement pencilled in for Thursday.
Industry sources told the BBC they expect the incoming government to back freezing bills, a move which would costs billions.
The move would not necessarily require upfront funding, however, with reports the government could cover loans to companies repaid by consumers over time in the form of higher fixed prices.
Speaking at the Queen Elizabeth II conference centre in London, she told party activists she would “deliver on the energy crisis” by dealing with bills and boosting the UK’s domestic energy sources.
SOURCE: BBC News