Liz Truss has been named as UK’s Prime Minister-designate after winning a leadership race for the governing Conservative Party at a time when the country faces a cost of living crisis, industrial unrest and a recession.

She will replace Boris Johnson in substantive capacity as Prime Minister on Tuesday.

She becomes British’s third female leader after Mrs Margaret Thatcher and Mrs Teresa May.

After weeks of an often bad-tempered and divisive leadership contest that saw the foreign minister face off against former finance minister Rishi Sunak, Truss came out on top in a vote of Conservative Party members.

The announcement triggers the start of a handover from Boris Johnson, who was forced to announce his resignation in July after months of scandal saw support for his administration drain away.

He 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.

Long front-runner in the race to replace Johnson, Truss will become the Conservatives’ fourth Prime Minister since a 2015 election. 

Over that period the country has been buffeted from crisis to crisis, and now faces what is forecast to be a long recession triggered by sky-rocketing inflation which hit 10.1 percent in July.(Reuters)