Truss promising too much? Says will scrap all EU laws by next year
UK foreign secretary Truss, in a statement, vowed a "red tape bonfire" if she became prime minister, including reform of the Mifid II trading rules. She also promised to unleash the "full potential" of Britain post-Brexit.
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London, Jul 23: Amid the ongoing contest for the Tory leadership, top contender Liz Truss has promised to review all EU laws retained in the British statute book by the end of next year, and to scrap measures deemed to be holding back the City of London.
UK foreign secretary Truss, in a statement, vowed a "red tape bonfire" if she became prime minister, including reform of the Mifid II trading rules. She also promised to unleash the "full potential" of Britain post-Brexit. This comes as Truss along with former British Chancellor of the Exchequer Rishi Sunak emerged as the final two candidates in the country's leadership race of the ruling Conservative party on Wednesday (Jul 20).
According to British media, Liz Truss said, "EU regulations hinder our businesses and this has to change. In Downing Street, I will seize the chance to diverge from outdated EU law and frameworks and capitalise on the opportunities we have ahead of us." Earlier this week, International Trade Minister Penny Mordaunt was knocked out in the final round of ballot among Conservative lawmakers. Sunak won 137 votes and Truss 113.
The contest to replace Boris Johnson as prime minister will now go before the Conservative Party's 200,000-odd dues-paying members, who will select the winner later this summer via mail-in ballot. The winner, to be announced on Sept. 5, will automatically become Johnson's successor.
