Jacob Rees-Mogg launches attack on treasury over UK economy
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The Brexit Opportunities Minister and leading Brexiteer is expected to get a major promotion and be named Business Secretary as if, as expected, Liz Truss wins the run-off against Rishi Sunak to be the new Tory leader and Prime Minister. The move would signal an end to the Net Zero policies of Boris Johnson with revelations this week that Mr Rees-Mogg and Kwasi Kwarteng, who is expected to be Chancellor, have been in discussions with the oil and gas industry about ending the embargo on fracking and new oil exploration.
Mr Rees-Mogg, a former chairman of the powerful European Research Group (ERGG) of Tory MPs, has been touted for a senior economic role in Ms Truss’ government after he became one of the first senior figures to endorse her bid to replace Boris Johnson.
Supporters believe he is ideal for the Business Secretary role, which also includes universities and energy, because of his business and investment background as the founder of Somerset Holdings.
The millionaire minister, who has long been a favourite of the party faithful, has led the push in Mr Johnson’s government to ensure that the country maximises its Brexit opportunities.
He also impressed others with his work on government efficiency with plans to slash the number of Whitehall civil servants and forcing the sale of £1billion of property.
One Team Truss source said: “‘Jacob Rees-Mogg continuing to serve in cabinet, is a boost for Brexit Britain.
“He is committed to slashing the red tape that had entrapped Britons and businesses for decades. He is focused on delivery and will bring experience to a crucial role, at this crucial time.”
However, his top job in the short-term will be to bring an end to the energy crisis which is also fuelling inflation.
With inflation expected to hit 18 percent next year, it is also feared that energy bills could hit £4,800 per household.
The crisis is also having an impact on businesses, schools and hospitals who will also face massive bills.
Former education secretaries have already appealed to the next Prime Minister, whether it is Ms Truss or former Chancellor Rishi Sunak, to take action to protect schools from being forced to close because they are unable to afford to heat their buildings.
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There are concerns in the Truss camp, though, that having a personally rich minister in charge of energy at a time when families are struggling to pay the bills may send the wrong message.
One Tory MP said: “There is a danger that it might look tone deaf because Jacob Rees-Mogg will not be facing the challenges of ordinary families.”
But another said: “He has had a strong record in government and will focus on sorting this crisis out.”
Ms Truss is considering ending green levy payments on bills and cutting VAT in a bid to tackle the cost of living crisis.
The speculation about Mr Rees-Mogg comes amid claims that Mr Kwarteng, the current Business Secretary, will be unveiled as Chancellor.
Therese Coffey, a close friend of Ms Truss was being considered as another candidate for Chancellor but now is more likely to take a beefed up Chief Whip role with her office in Downing Street.
James Cleverly is widely expected to be the new Foreign Secretary after serving as Ms Truss’ deputy in the same department.
Ranil Jayawardena, the MP for East Hampshire and currently a trade minister, is tipped to be the new Environment Secretary.
Northern Research Group chairman Jake Berry is being touted as the next party chairman.
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