Since Boris Johnson announced his resignation, growth expectations have fallen, annual inflation has risen above 10% and fuel and food prices have jumped, there has been considerable frustration over the rising cost of living and the strike of hundreds of thousands of port, train and postal workers.

With members of the Conservative Party, which has some 160 thousand members for Foreign Minister Liz Terrace to take over the party's leadership seat, it is paved the way for her to be the head of government in Britain.

The selection of a terrace as the successor to Boris Johnson, who stepped down from the Tory leadership after a rebellion within his government team, is in protest against the scandals that have plagued him as well as the country's economic situation.

Forecasts and surveys had suggested that Terrace would become the new leader of the Conservative Party, after a weeks-long contest with former finance minister Rishi Sunak.

This comes as Britain faces many crises, and is probably now on track for what is likely to be a long recession resulting from a high inflation rate of 10.1 percent in July.

Terrace pledged to act quickly to tackle Britain's cost-of-living crisis, saying it would develop a plan from the first week to address rising energy bills and secure future fuel supplies.

Johnson is awaiting his resignation to Queen Elizabeth II, at her summer residence in Balmoral, Scotland, and then receives Queen Liz Terrace after him as Prime Minister No. 15 during the Queen's 70-year reign.

A terrace would return to London to deliver its first speech to the Government House in Downing Street, before forming its government and confronting opposition leader Keir Starmer for the first time in Parliament.