UK PM Liz Truss inherits an economic storm, pledges to rebuild economy

Britain's new prime minister has pledged to rebuild the economy and ride out the storm gathering over the country, but Liz Truss faces a daunting job.

She inherits an ailing economy on the brink of a potentially long recession, with record inflation that's forecast to worsen in coming months and millions crying out for government help to cope with soaring energy bills.

Here's a look at the scale of the economic challenges that Truss faces and how she is expected to tackle them:

HIGH ENERGY COSTS

At the top of Truss' agenda is a cost-of-living crisis driven by spiralling natural gas and electricity costs.

Starting in October, millions of households will see their average yearly energy bill jump to about 3,500 pounds (USD 4,000) almost triple what they paid a year ago. The bills are expected to continue to climb and could exceed 4,000 pounds in January.

The sharp increases began last year, as economies worldwide recovered from the coronavirus pandemic and global demand for natural