Truss takes over as British PM

STORY: ''Well, this is it, folks.”

Boris Johnson bowed out as Britain’s Prime Minister on Tuesday (September 6), ending a tumultuous three years in office.

He is leaving his successor Liz Truss a daunting list of problems to tackle.

Including a looming lengthy recession and an energy crisis that threatens the finances of millions of households and businesses.

Johnson was forced out of office by his own Conservative Party over a series of scandals.

However he urged the country to come together and back his successor - in a typically bombastic speech where he compared himself to a Roman dictator.

“And like Cincinnatus, I am returning to my plough and I will be offering this government nothing but the most fervent support.”

Truss will be the fourth Conservative prime minister in six years.

On Tuesday morning she flew to northeastern Scotland to meet Queen Elizabeth to be formally appointed as the prime minister.

Truss has promised to take - quote - “bold action” to get the country through the tough times, including by cutting taxes.

That’s despite warnings that it will exacerbate Britain’s inflation rate - at 10.1% which is already the highest of any leading economy.

Looking ahead, Truss has said she will appoint a strong cabinet.

But she’ll have to work hard to win over backers of her rival, former finance minister Rishi Sunak.

She won 57% of votes in a bitterly fought leadership contest, compared to Sunak’s 43%.

A comfortable margin, but not as overwhelming as some polls had suggested.