A Fox News employee reacts to King Charles III’s historic speech. before a grieving nation the day after his mother’s death in Cavuto: Coast to Coast.
King Charles III will inherit a rocky economy and must immediately offer the same kind of reassuring presence his mother had during her 70-year reign.
In his first address to the British public on Friday, Charles laid out his intentions and views on the role he assumed following the death of his mother Queen Elizabeth II on Thursday, stressing that “the role and duties of the monarchy” have to remain.
“I was raised to have a sense of duty to others and to have the greatest respect for the precious traditions, freedoms and responsibilities of our unique history and system of parliamentary government,” said King Charles III.
And he will have an opportunity to test that view in the coming months, when he begins attending weekly meetings with Prime Minister Liz Truss, who is taking responsibility for forming a government as the final act of Queen Elizabeth II’s rule of the UK Has.
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The king himself has little practical power, his meetings with the prime minister providing him with a valuable outlet to voice his views – something he will not have the freedom to do as king – and to advise the prime minister on current issues.
Britain’s Prince Charles and Camilla, Duchess of Cornwall walk in the background after attending the annual Commonwealth Day service at Westminster Abbey in London on Monday March 9, 2020. (` Photo/Kirsty Wigglesworth, File/Fox News)
The UK economy is struggling but has not yet turned into a full-blown crisis: Truss announced plans to cap energy bills at $172 billion while the Bank of England is delaying decisions on raising interest rates to fight inflation .
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Inflation hit double digits last month as the consumer price index hit 10.1% in July, the highest since February 1982. Citi economist Benjamin Nabarro said he expects inflation to peak above 15% early next year.
LONDON, UNITED KINGDOM – JULY 10: Prince Charles, Prince of Wales, Camilla, Duchess of Cornwall, Prince Andrew, Duke of York, Queen Elizabeth II, Meghan, Duchess of Sussex, Prince Harry, Duke of Sussex, Prince William, Duke of Cambridge and Catherine (Anwar Hussein/WireImage via Getty/Getty Images)
The British pound (GBP) is down 14.96% against the dollar (year-to-date) to hit a new 52-week low. Goldman Sachs recently warned that Britain could enter a recession in the fourth quarter of this year after experiencing the sharpest contraction in GDP since 1709, Reuters reported.
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Truss vowed to “tackle” Britain’s “very serious” energy crisis and ruled out imposing a windfall levy on oil companies to fund their plans to offset rising heating and electricity costs, but energy could prove to be an issue between them turn out to be King and his Prime Minister.
City workers walk past the Bank of England in London February 13, 2008. (Reuters/Toby Melville/Reuters)
Charles may try to persuade the prime minister to look for alternative energy sources: he remained an outspoken supporter of environmental issues and openly criticized man-made global warming.
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But whatever form his talks with Truss take, they will remain private as the king is constitutionally barred from speaking publicly on political issues and expressing an opinion, lest it come across as an attack on the government.
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