Liz Truss announced as new PM. SMEs respond

It will be impossible for Truss to keep all her commitments to cut taxes while at the same time announcing a government package at least as big as (if not bigger) than the one announced by Keir Starmer to help people deal with the rise in energy costs. The UK government bond market has recently been very concerned that Truss's government will be fiscally irresponsible and blow a hole in the public finances. The ten year government borrowing costs have soared to almost 3% from 1.6% in July. We need some immediate clarity on the support package but also a clear pledge that finances will not be derailed, otherwise borrowing costs will spiral out of control.

Liz Truss is now at the helm of a sinking ship and there's no getting off. We can only hope she's successful in the new job as she is facing an economic and political Everest.

Liz Truss has certainly got her work cut out. I think she's broadly got the right idea that taxes need to be cut. We can't tax our way out of our debt mountain, we need to aggressively grow the economy. That means raising personal tax allowances, lowering income tax and reversing increases to National Insurance and corporation tax. The elephant in the room is corporate offshore tax evasion. We could transform the economy and living standards if we were to finally get serious about confronting this issue, rather than enabling it. Short-term, Truss must address the cost of living crisis. An energy cap freeze appears the only way out, because we just don't know how expensive energy will become, or for how long.

What this country needs now is answers, and there is no time to waste. The first issue that needs to be dealt with is soaring energy prices. We need to stop dividing the country into richest and poorest, as nobody should have to cope with 80%+ energy price increases. Liz Truss needs to protect households and business. The rest of Europe have managed to put together packages to support their people and the UK has hidden behind this transition of power. Truss needs to take action now, without delay.

Ultimately, the outcome of this vote doesn't matter. The current political system simply does not work for the people. If it did, we'd forsake vanity projects like faster trains to Birmingham and more lanes on motorways and make sure that all people in the UK had a reasonable standard of living. We do not have this and whoever the leader is, they will mis-spend our capital and not solve any issues that really matter. I'm here to be proved wrong and they have a great place to start right now with winter coming. We need a leader to make tough decisions, but one that will also help with the cost of living currently, and work for the many and not the few. The people who are really hurting do not care about better roads or faster trains, as they cannot afford to use them.

The immediate objectives for the new PM are tackling the current energy and cost of living crisis for individuals, businesses and charities. This is what Liz Truss will be judged on. The bigger picture is that there have to be the foundations laid for a longer-term strategy of what we are as a nation and where we are heading, as things have looked reactive and clueless at times from the current administration. What I will say is that based on the campaigning so far I'm not feeling hopeful that we will see any benefits, as it will be bold decisions that make that happen, not buzzwords and catchy phrases. There is no time to get their feet under the table, they need to get straight to the frontline. We need actions, not words.

During this protracted leadership campaign, businesses have been struggling to survive day by day, with great businesses closing their doors and people losing their jobs. The fun is over Liz. You now need to crack on and deal quickly with the issues at hand, such as more than 300% increases in energy costs for hospitality businesses as energy companies make billions in profit.

Now that it's been confirmed that Liz Truss is taking over from Boris Johnson, there can be no time wasted in addressing the challenges facing businesses. Rumours of steps to help with rising costs need to turn into action, and quickly. Freezing energy costs will help families, but more support is needed for businesses - they aren’t protected by energy price caps. There will be a cabinet reshuffle as the PM chooses who sits alongside her on the front benches but regardless, the Government should be reminded of what was said in the Spring Statement. Rishi Sunak promised a ton of initiatives to boost economic growth and productivity, to support businesses with training investment, research and development, innovation and tax cuts on business investment. Whoever the Chancellor may be - either incumbent or new - they need to take this promise forward and commit to some real support for businesses.

We are going from a cost-of-living crisis to a cost of Lizzing crisis. The overlong party process to choose a leader has left the government paralysed over the summer. We need immediate action. The new PM needs to understand the challenges normal people and businesses face. Truss has been playing to the crowd at hustings, but now she needs to win over the country. Tax cuts won't cut it, they'll be too little, and will not address the actual issues. People will not fall for the trickle down trick again.

Liz Truss's victory will be great news for cheese manufacturers around the UK.

We need immediate action on the energy crisis. Hopefully it's better than suggest we all invest in a new, more energy-efficient kettle.

As expected, Liz Truss is the new PM and for many small businesses like mine this is in someway a relief. She has promised to scrap planned tax rises and has even hinted at VAT cuts and other measures to help with energy prices. Unfortunately, the sensible and cautious approach from Rishi, has lost to the populist approach by Liz Truss of tax cuts and handouts. Only time will which was the right approach but for the time being any short term help to SMEs will be very welcome as the economy is on the brink.

It's a disaster for anyone who isn't a higher rate tax payer, for all those on lower incomes and for all those who are unable to work due to health or disability and for their families. It's a disaster for the NHS with the cutting of the extra on National Insurance ring fenced for health and social care. It's a disaster for the environment with the removal of the green tariff and instead fracking and more exploration for North Sea Gas. It's a disaster for education if, as expected, she appoints Kemi Badenoch as minister as schools and SEND pupils wave goodbye to their TAs. It's a victory for the well off, for little englanders, and for comfortably off pensioners...until they need a carer and there aren't any.

OK Liz so you said you can deliver (3 times) and this has been the longest job interview ever, so let's see your grand plan, as we need you to hit the ground running like a cheetah and start with some concrete plans to help small businesses survive, such as an energy freeze and VAT reduction. Show us you have a grasp on industry and the world beyond Whitehall.

We are opening up The Art Room for free art sessions from the first Friday in Oct to April for pensioners and those that aren’t so old from 10am til 4pm so that they can meet new people and be warm. Liz Truss will be warm and she doesn’t pay for it like we do. Small businesses need help and the public in general need help. They should have cut short the summer break to sort this. I don’t believe anything the conservatives say or do anymore.

Talk about shutting the door after the horse has bolted. Let's face it we as the people and Liz as the new PM have been left with far too much mess to clean up and all that will happen is false promises. I hope I'm wrong but it reminds me of a football manager taking over a relegation-risk club, promising to keep them up only to realise that the damage has been done and there's no saving them.