Watch live: Liz Truss first speech as Prime Minister

Truss is set to name her cabinet later today.

Highlights:

• I will cut taxes to reward hard work and boost business-led growth and investment
• I will take action this week on energy bills
• We will transform Britain into an aspiration nation
• I will secure our future energy supply

/GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth Read this Term is up 22 pips to 1.1535 today.

The energy plan has already leaked and it will cost at least £130 billion. That's crushing the long end of the UK bond market today with 30-years up 20 bps to 3.45%.