Thursday’s development came after her new chancellor of the exchequer, Jeremy Hunt, rolled back virtually all of Truss economic agenda.

Hunt’s move was supposed to be an impetus for growth, but it became Truss’s declaration of political bankruptcy.

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Truss, who is currently the foreign minister and the favorite to win, beat former finance minister Rishi Sunak in a vote of Conservative Party members, winning by 81,326 votes to 60,399.

“I will deliver a bold plan to cut taxes and grow our economy,” Truss said after the result was announced.

“I will deliver on the energy crisis, dealing with people’s energy bills, but also dealing with the long-term issues we have on energy supply.”

Truss will succeed Boris Johnson, who was forced to announce his resignation in July after months of scandals saw support for his administration drain away and ministers quit to force him out.

Johnson will travel to Scotland to meet Queen Elizabeth on Tuesday to officially tender his resignation. Truss will follow him and be asked to form a government by the monarch.

Truss, 47, has promised to act quickly, saying within a week she will come up with a plan to tackle rising energy bills and secure future fuel supplies.

She signalled during her leadership campaign she would challenge convention by scrapping tax increases and cutting other levies in a move some economists say would further fuel inflation.

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