Liz Truss to be the new UK Prime Minister

Liz Truss will become the new Prime Minister of the United Kingdom, Truss will replace Boris Johnson as the head of the Conservative Party. The former UK foreign minister won in a vote amongst fellow Conservative ('Tory') members to beat former finance minister Rishi Sunak by more than 20,000 votes (81,326 v. 60,399).

By succeeding Boris Johnson at the head of the party following his resignation as British Premier, Truss will immediately go on to govern the country without the need to return to the polls in a general election. She will be the third woman to achieve this position, following in the footsteps of Margaret Thatcher and Theresa May. She will be sworn in by the queen and will take office as head of the British administration on Tuesday. Truss is expected to name the members of her new cabinet as the leader of the government on the same day.

Graham Brady, chairman of the Conservative parliamentary group, announced the name of the winner at the Queen Elizabeth II conference center. For her part, Lizz Truss delivered a speech that featured a promise to lower and eliminate taxes, as well as to implement a plan to lower energy costs.

With the economy leading her proposals, Truss' flagship measure is a package of £30,000 in tax cuts by the end of the month, arguing that the UK's tax burden is well behind sluggish growth in the country.