Liz Truss is preparing to hit the ground running immediately after the Queen’s funeral, with a speech at the United Nations and a tax-slashing ‘mini-budget’ next week.
Parliament could also resume as early as Tuesday – the day after world leaders gather at Westminster Abbey – as official business returns “more to normal”, Downing Street said.
No 10 says it does not need to pass legislation to enact the energy price freeze that will hold down average annual household bills to £2,500 until 2024.
But the new prime minister won the Tory leadership race on a promise to slash taxes by around £30bn, reversing the National Insurance rise and scrapping the planned Corporation Tax hike.
Ms Truss downgraded her planned emergency budget to a “fiscal event” – to avoid scrutiny by the Office for Budget Responsibility – which was pencilled in for next week.
She is expected to fly to New York for the UN leader’s meeting as early as Monday evening, within hours of the funeral, returning to the UK late on Wednesday or early Thursday.
That would allow the mini-budget to be held on Thursday next week, before parliament breaks up again for the Labour and Conservative party conferences.
“We are still planning to deliver a fiscal event this month,” the prime minister’s spokesman told reporters. It would not be unveiled during the Labour conference week.