Liz Truss has just been announced the winner of the leadership race for the governing UK Conservative (Tory) party, which comes after weeks of a bad-tempered and divisive contest that saw the foreign minister face off against former finance minister Rishi Sunak - winning by 81,326 votes as opposed to Sunak's 60,399.

By replacing former PM Boris Johnson, who will resign officially on Tuesday, Truss will become the Tories' fourth prime minister since the 2015 election, at a time when the country faces a cost of living crisis, industrial unrest and a recession with sky-rocketing inflation which hit 10.1% in July.

#LizTruss is set to take office following the controversial #BorisJohnson, winning a leadership election for the ruling #Conservative party at a time when the #UK is suffering from an inflated cost of living, industrial unrest, and a recession. pic.twitter.com/dqtatN1zhj

— Al Mayadeen English (@MayadeenEnglish) September 5, 2022

Truss not only promised to act quickly to tackle Britain's cost of living crisis, but a campaign insider also confirmed Monday that upon winning the election, the Tory leader plans to freeze the energy bills to relieve British households from the economic burdens, even indicating during her campaign the plan to scrape tax increases and cut other levies in a move some economists say would fuel inflation.

The former FM faces a long, costly and tough to-do list, which opposition lawmakers say is the result of 12 years of poor Conservative governing. Veteran Conservative lawmaker David Davis described the challenges she would take on as prime minister as "probably the second most difficult brief of post-war prime ministers" after Conservative Margaret Thatcher in 1979.

Following her election victory, Truss took to Twitter to say: "I will take bold action to get all of us through these tough times, grow our economy, and unleash the United Kingdom’s potential".

I am honoured to be elected Leader of the Conservative Party.

Thank you for putting your trust in me to lead and deliver for our great country.

I will take bold action to get all of us through these tough times, grow our economy, and unleash the United Kingdom’s potential. pic.twitter.com/xCGGTJzjqb

— Liz for Leader (@trussliz) September 5, 2022

Truss has stated that she will appoint a strong cabinet, intending to work hard to bring over some lawmakers in her party who had backed Sunak in the race.

First, she will turn to the urgent issue of surging energy prices. Average annual household utility bills are set to jump by 80% in October to 3,549 pounds, before an expected rise to 6,000 pounds in 2023, decimating personal finances.