Liz Truss Pledges to Deal With Economy, Energy Crisis and NHS in First Speech as UK Prime Minister

Liz Truss has delivered her address to the nation after being appointed Britain's new prime minister by Queen Elizabeth II.

In her first speech as prime minister, Liz Truss pledged to "ride out the storm" and rebuild Britain, namely by "delivering" on the economy, energy, and the NHS.

Truss, who became the UK's third female prime minister, began her address to the nation by paying tribute to her predecessor Boris Johnson, whom she described as a "hugely consequential prime minister."

The Tory leader stated that she had a "bold plan" to "grow the economy," saying she would "cut taxes to reward hard work and boost business-led growth and investment."

"I will drive reform in my mission to get the United Kingdom working, building and growing," Truss said.

She outlined the energy crunch, which she blamed on Russia, as her second priority, and pledged to "secure our future energy supply," without specifying what she would do.

Truss' third priority would be healthcare: "I will make sure that people can get doctors appointments and the NHS services they need. We will put our health service on a firm footing by delivering on the economy, on energy and on the NHS."

The new British prime minister went on to say "as strong as the storm may be I know that the British people are stronger."

"Our country was built by people who get things done. We have huge reserves of talent, of energy and determination. I am confident that together we can ride out the storm, we can rebuild our economy and we can become the modern, brilliant Britain that I know we can be."

The UK is facing its worst cost-of-living crisis in decades, with inflation above 10 percent and skyrocketing energy bills. The Bank of England has forecast that inflation will hit 13.3 percent in October, while the country will plunge into a prolonged recession by the end of the year.

During her campaign, Truss promised to cut taxes, insisting that the move would reboot a stalled economy and help people deal with soaring energy bills. She pledged to overturn an increase in national insurance and scrap a scheduled rise in corporation tax, at a combined cost of about 30 billion pounds (over $34 billion) a year.

Truss refused to reveal her energy strategy during the summer campaign, but British media reported Tuesday that she plans to cap energy bills at a cost to taxpayers of as much as 100 billion pounds ($116 billion). Truss is expected to unveil her energy plan on Thursday.

As for healthcare, Truss said she would redirect billions of pounds from the National Health Service (NHS) to social care to vacate space in hospitals.

Liz Truss took office earlier in the day at Balmoral Castle in Scotland, when Queen Elizabeth II formally asked her to form a new government. Boris Johnson, who announced his decision to step down in July, formally resigned during his audience with the monarch earlier on Tuesday.

Truss was chosen as Conservative Party leader on Monday, where she received 81,000 votes, beating her rival, Rishi Sunak, who garnered 60,000 votes.