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Liz Truss becomes the new Prime Minister

Liz Truss has beaten Rishi Sunak to become the new Conservative Party leader and prime minister, seeing businesses and organizations respond.

David Findlay, Principal Nottingham Manager at JLL, said: “Businesses in the East Midlands will be hoping confirmation of Liz Truss as the Prime Minister signals a return to the priorities set by this government in 2019. Ensuring the £1.14bn devolution deal signed the week last will be implemented will be high on the wish list for many as a means of leveling up the region, but it is not the only request they will have.

“Businesses in the East Midlands also need the confidence to invest to grow in the years to come. Only by seeing a significant increase in spending on infrastructure, transport links, education and Net Zero programs in the region will companies feel empowered to recruit and engage in the East Midlands. as a basis for long-term business. A new government means a new start, but action must be taken as soon as possible. »

Ben Dorks, CEO of global software company Ideagen, headquartered in Ruddington, said: “The immediate priority for the new Prime Minister must be the cost of living crisis, which affects every inch of society. In the longer term, I would like to see policies that allow UK businesses to remain globally competitive, leading to jobs and growth, as well as a commitment to initiatives that promote greater social mobility and aspirations for young people, especially those in low-income communities.

East Midlands Chamber chief executive Scott Knowles said: “We would like to congratulate Liz Truss on winning the Conservative Party leadership vote to become Prime Minister and wish her every success in her role as she seeks to move our country forward.

“She will be well aware that there is a mountain of pressing issues awaiting her when she arrives at 10 Downing Street, but we urge Ms Truss to prioritize the escalating energy prices which are the factor most important in the twin crises of the cost of doing business and the cost of living.

“While we understand that there is no easy remedy, the deterioration in economic projections published daily means that we cannot afford to wait any longer without practical support measures being put in place. Without them, we risk forcing businesses to scale down or close completely, resulting in the loss of their jobs and livelihoods.

“We hope to see an immediate announcement that energy bills will be frozen at an affordable level for households and businesses. Tackling residential energy bills exclusively would only solve half the problem, as businesses are forced to increase their prices in response to the rising costs they face in energy, fuel, personnel and raw materials.

“There is currently no cap on energy prices for businesses and this needs to be resolved urgently if our economy is to thrive, while in the long term we hope that the administration of Mrs Trust, in collaboration, will work with businesses to create a long-term solution to the various challenges we face.

“Going forward, we hope to see a real commitment to leveling up by investing in areas like the East Midlands, which have been left behind by the rest of the UK when it comes to public investment for far too long. There is tremendous untapped potential in our region and we would love to host the Prime Minister to show her what we can offer our country.

Jennifer Thomas of the Federation of Small Businesses (FSB) said:Congratulations to Liz Truss, whose campaign included small businesses, the self-employed, and corporate rampages.

“The challenge now is to take action big enough and bold enough to match the scale of the crisis that threatens the existence of many small businesses, and the jobs, livelihoods and communities that depend on them.

“Small businesses, unprotected by an energy price cap, are seeing their bills skyrocket. This is happening at a time of exorbitant taxes, runaway inflation and supply chain disruption, creating a toxic mix that needs to be tackled urgently.

“Small businesses are calling for a holistic response that lowers taxes, limits spiraling bills and provides direct cash support to smaller businesses.

“During the leadership campaign, we were delighted that Liz Truss listened to our calls to reverse the recent National Insurance hike and consider taking more small businesses off commercial rates.

“As she prepares her full set of contingency plans, we are ready and willing to work with the new Prime Minister and his team to protect the UK’s 5.5 million small businesses and 16 million jobs they contain, in communities across the UK. .”

CBI Chief Executive Tony Danker said: Congratulations to the new prime minister. This is an extraordinarily difficult time to lead the country, and she has the full support of business to tackle common challenges together, head-on.

“In the immediate term, support for households in difficulty and businesses in danger is at the top of the list. It may not be the pandemic, but the exceptional circumstances we are currently facing mean that the government must play a central role in supporting our economy.

“And if we are serious about kick-starting UK growth, ensuring that any downturn is short and superficial, we need a serious growth plan. It must be bold, unconventional and rooted in the very real opportunities that still exist for the UK to thrive.

Stephen Phipson, CEO of Make UK, the manufacturers’ organisation, said: “We congratulate Liz Truss on her appointment and look forward to discussing the critical importance of manufacturing, a sector that provides millions of well-paid, highly skilled jobs across the UK. UK manufacturers are an excellent example of a growing success story, contributing billions of pounds to GDP each year and essential to delivering the government’s upgrading agenda, creating jobs where they are needed most.

“But the industry right now needs decisive action from the new government to help it weather a prolonged period of unprecedented energy bill hikes, rising raw material costs and supply shortages. critical workforce to maintain Britain’s place as the world’s innovation leader.