THEY say a week is a long time in politics: 25 minutes seems an eternity these days. A journalist Tweeted on Monday morning that she hoped we were in for a no-news day. Her hopes were dashed immediately.

We have a new prime minister. Andrea Leadsom’s surprise stand down from the Conservative leadership contest has resulted in Theresa May being appointed without a ballot of Tory members. Theresa is a strong, determined and hard working individual who will serve this country incredibly well. She will drive the best outcome for the country from the impending negotiations with the EU over the UK’s exit, and subsequent trade deal with the EU and other countries. This in itself is a mighty challenge, but there are other challenges ahead as well.

Aside from delivering the Conservative manifesto, voted for just over a year ago, she has the challenge of tackling two major issues this country faces.

Inequality ballooned under Blair years and has not stopped since 2010. Even I, as a reasonably hardened free marketeer, find it utterly appalling that an individual can be paid many millions of pounds to act as a hired chief executive of a company where he or she takes no personal risk whatsoever. Entrepreneurs, mortgaging their homes and taking risks, receive rewards that can be huge, but the cost of failure is personal ruin. A hired senior executive of an established company is merely performing a paid function. Whilst they get paid millions, their ultimate risk is losing their entry in Who’s Who. The same applies to the public sector. This must stop. But the inequality runs deeper and quantitative easing, used to support the collapsed financial system, has helped make those who own houses far richer, whilst those who do not find themselves increasingly priced out of home ownership.

But we face huge divides in the country: north and south; rich and poor; urban and rural; young and old; leave and remain. These divides are down to a range of cultural and economic differences. The young are racking up huge debts to pay for things their elders got for free. They are having to pay huge prices to get on the housing ladder, whilst many people are living in homes, bought years ago, that they could never afford in today’s market.

Theresa May’s challenge is huge. But she is absolutely the person to tackle these issues head on. She will be an outstanding prime minster.