Home Inverness colorado business A busy week for Liz Truss as the premiership is about to kick in

A busy week for Liz Truss as the premiership is about to kick in

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Liz Truss’ premiership will kick into action this week after a political break to mark the Queen’s death, with a busy schedule of politics and diplomacy to follow the state funeral.

Normal activity in Parliament has been frozen since the death of the late monarch, with business in both houses halted for a period of mourning.

All eyes will be on Westminster Abbey for Monday’s service as the Prime Minister joins hundreds of dignitaries from around the world to say a final farewell to the Queen.

Ms Truss is expected to fly to New York for the United Nations General Assembly after the funeral, where she has a key bilateral meeting with US President Joe Biden.

Liz Truss will hold a full bilateral meeting with Joe Biden on Wednesday (Jonathan Hordle Media Assignments/PA)

Back in the UK, MPs will return to Westminster on Wednesday, where those who wish can take a new oath or affirmation to the king.

The PA news agency understands that Business Secretary Jacob Rees-Mogg will also present further details of the Government’s plans to help businesses through the energy crisis.

Health Secretary and Deputy First Minister Therese Coffey is due to outline her vision on Thursday for seeing the NHS through the winter months.

Mr Kwarteng’s mini-budget, focused on tackling the cost of living crisis and reviving growth, will then be presented on Friday.

He is expected to confirm Ms Truss’ plans to reverse the National Insurance hike and cancel a planned corporation tax hike.

It also plans to drastically reduce personal taxes in addition to business levies in its proposed “investment zones”, dubbed “full fat freeports”.

Kwasi Kwarteng will present his mini-budget on Friday (Kirsty O'Connor/PA)
Kwasi Kwarteng will present his mini-budget on Friday (Kirsty O’Connor/PA)

It has been suggested that the Chancellor will pursue an initiative to remove the cap on bankers’ bonuses, although the Palestinian Authority understands that no final decision has been made.

With the so-called ‘fiscal event’ dominating the political agenda on Friday, there will be little breathing room before it is Labour’s turn in the spotlight as the party travels to Liverpool for its annual conference.

MPs were due to take a break on Thursday but will now be asked to sit an extra day to spend time on the Chancellor’s mini-budget.

Ms Truss’s tax cut proposals were the cornerstone of her campaign for the Conservative leadership which saw her rival ousting Rishi Sunak with 57% of the vote.

But the plan to roll back the National Insurance increase has been criticized by some for directly benefiting high earners.

Economic analysis suggests the country’s three million poorest households will earn just 63p a month from the move, while the wealthiest will keep an additional £150, according to the Times.

When MPs returned to the Commons this week, having taken time off from political business following the Queen’s death, Speaker Sir Lindsay Hoyle said he hoped ‘we can be slightly better for each other’.

“When the House needs it, it comes together, and it’s by far at its best,” he told Westminster Hour on BBC Radio 4.

“And I think it was wonderful to be a Speaker where the House is united. I don’t think I will ever see the House as good and as great again. I would like to believe it.

“I hope from now on we can be a little bit better towards each other, we can show a little more tolerance and certainly a lot more respect towards each other.

“And I would like to think that will be the way we move forward. It will be a wonderful legacy for the late Queen and for the new King in the future.