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Liz Truss warned of mass bankruptcies of firms left in uncertainty over energy bills | Liz Truss

Liz Truss facing political and economic baptism of fire This week with warnings of massive bankruptcies in economy – even how new prime minister preparing for lead nation in minute of silence on Sunday evening in honor of the Queen’s legacy.

Before the Queen’s funeral at Westminster Abbey on Monday and her funeral at St. George’s Chapel in Windsor Castle, Truss will appear on in steps of No. 10 on Sunday evening at 20:00 as part of of a final national “moment of reflection” on the life and legacy of the monarch.

Downing Street hopes that people will take part in them homes as well as on their rapids all over the UK. sailors, soldiers as well as air armed forces crews stationed overseas will also pause including on ships and in base, in what kind government officials think it could be global event.

But with Period of national the mourning ends after the funeral, when Truss will fly to New York to attend the UN general assembly and with MPs return to Westminster on Wednesday or Thursday, transition back to normal politics will be sudden and potentially bruising for a prime minister who was only in office for two days before the queen death.

On Saturday night, leading Great Britain business organizations renewed pressure on ministers for “absolute clarity” on what kind help government would offer them with your electricity bills and warning of dire consequences if they continue left in uncertainty over level of support in average term.

new business secretaryJacob Rees-Mogg, will do announcement on support for business on Wednesday will be followed by a mini-budget through new chancellor Kwasi Kwarteng, on Friday.

director general of British chambers of Commerce, Shevon Haviland, said previous announcement that businesses would benefit from the restriction on similar accounts for domestic users, for six months – made hours before news of queens death was made public 10 days ago – it was very helpful.

But she insisted more Details were now desperately needed if many companies couldn’t scale. back operations, and some even close because of en inability plan ahead.

This cap will good thing for businessHaviland said. “But now we need to know two things: first what size of this is? Then very quickly we will need to understand what happens after six months.”

She said many businesses are seeing their energy costs skyrocket by 300% or more. more compared with last year adding to list of problems this made many doubt their future.

Liz Truss leaves Westminster Hall after Dom of Houses of Commons and Lords met on Monday to express my condolences. Photo: Markus Schreiber/AP

“I have been told by several companies that this is worse than Covid. growth of raw materials materials, soaring costs, including labor, inflation at 10%, and now energy prices. They are not know where to turn. May 23% of our businesses have said they will have to scale down production or termination trading. it will pass up significantly since then. government should get on with It.”

Emma McClurkin, Executive Director of The British Beer and Pub Association said: “Pubs and brewers will not be able to wait days, let alone months, to get clarity. on their electricity bills. Companies do decisions Now about whether they can survive the winter. It would not be an exaggeration to say that the impact of this energy crisis could be worse than a pandemic in terms of permanent closures.

“We urgently need complete clarity from the government on will this cap help pubs and breweries out of crisis that was building for months. We urge the Chancellor to seriously consider what immediate assurances he can give. give for thousands of business owners who are currently in despair.”

Quarteng expected on Friday to present huge package which includes details of energy price cap and £30 billion in tax cuts, including the abolition of the April rise in national insurance – as promised during the election of the leadership of the conservatives.

Conservative MPs already concerned that Friday event also Expected that of cap on bankers’ bonuses will provide an “open goal for Labor, work in farms first weeks like prime minister.

Keir Starmer party determined to highlight the contrast between what he portrays as conservative tax cuts for rich and his policy of payment for freezing in energy price lid for those same in need by taxing excess profits of energy companies. £13bn year year decline in national insurance also helping richer families more than poor families.

Economists say key challenge for The farm will prevent international money markets from loss confidence like UK economy enters its worst period since the 1970s when price shocks forced the Treasury to join hands of International Monetary Fund.

With inflation reaching heights unnoticed for 30 years old and the pound dropped to 37-year low, there is a possibility that gambling on tax cuts and deregulation of The city will scare the markets and leave the Ministry of Finance struggling deal with wave of business closing and millions of households in fuel poverty.

Forecasts for in economy currently show he will contract in in second half of this is year and all of next year though degree of decline is unclear after injection of £150 billion in economy via in governments new £2500 Energy price lid

Gloomy outlook not expected to deter Bank of England from increasing its base interest rate rate from 1.75% this week.

Meanwhile, mourners today will be advised not to set off to join in queue for False in state as you approach full capacity. Dozens of thousands of people filed past queen’s coffin in Westminster Hall from Wednesday evening, with False in state set finish at 6:30 am on Monday ahead of the funeral.

Entrance to queue will need be closed hours in so much in advance people as possible who are already in in queue can pay tribute.

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Adrian Ovalle
Adrian Ovalle
Adrian is working as the Editor at World Weekly News. He tries to provide our readers with the fastest news from all around the world before anywhere else.

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