LONDON (Reuters) – Liz Truss, the preferred candidate for Britain’s next prime minister, said on Friday she would fix the economy and keep taxes low while acknowledging that a “hard winter” is awaiting.
“The most important thing is to get the economy working to avoid a recession. The usual policies aren’t working. We need to do more and that’s why I’m determined to fix the economy and keep taxes low,” Truss told reporters. .
Foreign Minister Truss faces former finance minister Rishi Sunak to win the votes of 200,000 members of the Conservative Party who will choose by September 5 to replace Boris Johnson, who was forced to resign after a series of scandals.
Truss made the comments while trying to sway executives at a meeting in the City of London, promising to reform outdated banking legislation from the European Union.
“I’m here today talking about how we can change our investment rules, second solvency, an old EU rule – to replace that – so we can increase investment across the country,” she said.
(Reporting by William James)
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