Liz Truss is set to be chosen leader of the ruling Conservative Party and the next prime minister of the United Kingdom on Monday. She will take office when the nation faces a cost of the living problem, industrial discontent, and a recession.

After weeks of a frequently acrimonious and controversial party leadership election pitting Truss against former finance minister Rishi Sunak, Monday's statement at 11:30 GMT will mark the beginning of Boris Johnson's handover. Months of scandal forced him to announce his resignation in July.

The winner will fly to Scotland on Tuesday to meet Queen Elizabeth, who will request the formation of a new government.

Truss, if appointed, will be the Conservatives' fourth prime minister since the 2015 election. Truss has long been the frontrunner in the contest to replace Johnson. During this time, the nation has been buffeted by one crisis after another, and it now faces what is expected to be a protracted recession precipitated by skyrocketing inflation, which reached 10.1% in July.

The 47-year-old former foreign minister under Boris Johnson, Truss, has pledged to act swiftly to combat Britain's cost of living crisis, stating that she will devise a plan to combat rising energy costs and secure future fuel supply within a week.

In a Sunday television interview, she declined to elaborate on the measures she claims will comfort millions of people who fear they may be unable to pay their winter fuel bills.

During her campaign for the presidency, she indicated she would defy tradition by abandoning tax increases and slashing other levies that some economists fear would fuel inflation.

This, together with a promise to examine the Bank of England's mandate while preserving its independence, has pushed some investors to sell the pound and government bonds.

Last month, the Institute for Fiscal Studies cast doubt on the next British prime minister's ability to enact big, permanent tax cuts.

"Second most difficult post-war brief"

According to opposition lawmakers, Truss has a lengthy, expensive, and challenging to-do list, which is the outcome of 12 years of an ineffective Conservative government. Truss has stated that she will not permit an early election, even though many have asked for one.

David Davis, a veteran Conservative MP, called the issues she would face as prime minister "probably the second most difficult brief of post-war prime ministers" behind Margaret Thatcher's 1979 term.

Costs might reach tens of billions of pounds, he added. "I actually don't think any of the candidates, not one of them going through it, really knows quite how big this is going to be," he said.

According to a source close to her, Truss has stated that she will appoint a strong cabinet and abandon her "presidential-style" of government.

She will begin by addressing the pressing issue of soaring energy prices. In October, the average yearly utility bill for a household will increase by 80% to 3,549 pounds ($4,084), followed by a predicted climb to 6,000 pounds in 2023, devastating personal budgets.

Britain has fallen behind other major European nations in its support for consumer energy bills, which opposition MPs attribute to a "zombie" government unable to act during the Conservatives' leadership election.

As part of its 37-billion-pound cost-of-living support scheme, the government announced a 15-billion-pound aid package to assist people with their energy expenses in May.

Italy has spent nearly 52 billion euros ($51.75 billion) to assist its citizens this year. In France, electricity bill hikes are regulated at 4 percent, while on Sunday, Germany announced it would invest at least 65 billion euros to protect households and businesses from increasing inflation.