Karin Smyth, MP for Bristol South, has called on the newly selected Prime Minister, Liz Truss MP, to act now on the cost of living crisis as time is already running out for businesses and families across south Bristol.
The election of Liz Truss MP to the position of Leader of the UK Conservative Party means that she now becomes Prime Minister. She secured the lowest share of the vote of the 172,437 Conservative Party members in the history of the Tory Party with circa 57% of the vote. This means Liz Truss MP went into the leadership election with fewer Conservative MP endorsing her and the fewest number of Tory members supporting her in the position of Prime Minister.
Liz Truss MP, marks the fourth Conservative Prime Minister of the country in the last 12 years. During this time wages have been at record lows and inequality has spiralled out of control alongside child poverty.
From 1 October the new energy price cap will come into force at £3,549 per year for dual fuel customers. Businesses do not have an energy price cap and some businesses are already declaring that they will have to cease trading.
Predictions, which have been accurate for every price cap since so far, estimate that the cap in January 2023 could reach in excess of £6,000.
During the Conservative leadership election Liz Truss MP’s only offer was tax cuts and a spending squeeze on the public sector workers. Neither of which help tackle the cost of living crisis.
Karin Smyth, MP for Bristol South, said:
“The Conservative Party has wasted the summer talking to themselves about unaffordable policies, niche pet projects and how much they can’t stand their own colleagues. This time could have been used to roll-out Labour’s energy price freeze to protect household budgets.
“I’m setting a challenge to the new Prime Minister to act now and follow Labour’s lead. She mustn’t stray away from our fully-costed plan as anything less would see our already fragile economy tipped over the edge.
“Speculation is rife that the new Prime Minister will seek to implement her own version of Labour’s policy. When you delve into the details it becomes clear she wants to secure a buy-now-pay-later scheme. This will just increase people’s bills in the future: putting the burden on households instead of the broad shoulders of the gas and oil producing giants. This will be unacceptable to everyone.”