In her leadership victory speech new Prime Minister Liz Truss repeated ‘we will deliver’ three times, but delivery firm ParcelHero says business and retail bosses will be holding their breath.
The new PM takes office against a background of economic turmoil following Brexit, the pandemic and soaring energy and food costs, the delivery service said.
ParcelHero’s head of consumer research, David Jinks, explained: “As delivery experts ourselves, we know that successful delivery is about consistency and careful planning.
“Liz Truss was previously Foreign Secretary and – perhaps significantly for UK businesses – International Trade Secretary. The new Prime Minister has given mixed signals to business during her Conservative Party leadership campaign.
“Liz Truss is well-known to be a free-marketeer at heart and clearly wants to introduce tax cuts as soon as possible. However, with the economy under severe stress, it’s believed her team has been working on a support package for energy bills for some weeks. Indeed, her likely new Chancellor, Kwasi Kwarteng, has told the Financial Times that a government led by Ms Truss will borrow more to help people this winter.
“The concern for many British business leaders is that tax cuts at a time of increased government spending sounds like an exercise in squaring the circle that could put further strains on the economy.”
ParcelHero stressed that the challenges facing UK businesses, particularly its retailers, are severe. It added that while we learned from the former Culture Secretary, Nadine Dorries, that Truss is a canny shopper – allegedly spending just £4.50 on Claire’s Accessories earrings – there is little known about Truss’ true plans for retail.
Furthermore, the company said the logistics industry may welcome the new PM’s plans to halt the introduction of new smart motorways, maybe even scraping existing ones where there is no hard shoulder. ParcelHero also suggested transport and delivery firms may approve of her reported consideration of raising the blanket 70mph speed limit on some sections of motorway. But it stressed leaders in the greening of Britain’s businesses, including many transport and delivery companies, will be concerned about the environmental impact of some of these proposed changes.