Liz Truss defeated Rishi Sunak by 57% to 43%, lower than Boris Johnson’s victory in 2019. While comfortable on paper, Truss’ margin of victory was not nearly as emphatic as forecast, or in line with many of the polls throughout the leadership contest, which put her in the mid 60% range. This may factor into Truss’ decisions on Cabinet appointments and handling of the Parliamentary Party, given she commanded the lowest support of MPs and of the membership since Iain Duncan Smith in 2001.
Truss takes on the mantle of leadership with an in-tray that few would envy. An inflation forecast to hit over double digits, a war in Europe and the predicted recession mean that Truss will have to hit the ground running if she is to make any headway and improve the Conservative Party’s prospects for the next election.
Read EGA London's latest briefing for a timeline of Truss's first 100 days in office, an overview of her team, and the implications of the new government for business.