Connect with us

Entertainment

liz truss news government crisis warteng resignation car

Published

on

After only 40 days of work, the British government of Liz Truss is already in danger. The Prime Minister has sacked Chancellor of the Exchequer (Economy Minister) Kwasi Kwarteng and brought in Jeremy Hunt to replace him. The Conservative MPs are in revolt against their leader, whom many consider incapable.

The step back from the head of the Treasury comes after the political and financial storm which has upset the Truss executive’s mini budgetary maneuver in recent weeks. A hyperliberal plan which contained billionaire reductions in deficit taxes, that is to say to be financed by the increase in the public debt. And all this despite rising inflation, the global economic crisis caused by the war in Ukraine and rising interest rates. In such a context, the mini-maneuver would have caused, according to its detractors, an aggravation of the already difficult conditions of the state budget. In addition to a tax cut for the wealthy classes which upsets public opinion across the Channel.

Photo Ansa / Epa Tolga Akmen

A maneuver that has sparked a wave of controversy since its announcement in Parliament on September 23. Until the climax, represented by what is in fact a sacking in an attempt to find a scapegoat: the resignation of the Chancellor of the Exchequer, Kwasi Kwarteng. Due to uncertainty over the coverage of the Truss government’s tax cut plan, financial markets reacted very badly to the plan, forcing the Bank of England to intervene in favor of the pound sterling and government bonds . And giving rise to a dangerous showdown between political and monetary authorities.

The UK had 3 Chancellors of the Exchequer in 3 months. Nahdim Zahawi between July 5 and September 6, Kwasi Kwarteng for 38 days, starting today Jeremy Hunt. And maybe it doesn’t end there.

— ROBERTO ZICHITTELLA (@ROBZIK) October 14, 2022

Bad mood against Liz Truss

The Chancellor of the Exchequer will soon meet Prime Minister Liz Truss. Kwasi Kwarteng returned overnight from Washington, where he was for meetings of the International Monetary Fund, anticipating his return to London within a day. On October 13, The Times newspaper reported on growing discontent within the Conservative Party towards the Prime Minister, who appeared in September to be the most apt to replace the fallen star of Boris Johnson within the Tories.

Boris Johnson. Photo Ansa / Epa Salle Neil

Liz Truss therefore attended a committee meeting of Conservative supporters last week. Many called his speech at the summit “disastrous”. And the mood among some party colleagues called him “lead”. According to party rules, Liz Truss, as prime minister, has the “right” not to be questioned for at least 12 months. In short, a year to prove his worth at the head of the country. Normally, a replacement of Conservative leadership is triggered when 15% of Conservative MPs write to the chairman of the committee to express their distrust. An MP interviewed by The Times said that “if we vote, we will reach the threshold of a vote of no confidence in a few hours”.

Lzz Truss meets King Charles on October 13. Photo Ansa / Instagram The royal family

Continue Reading

Recent News

Exhibition Game Exhibition Game
How to2 days ago

How to Choose the Ideal Exhibition Game for Your Event

Hosting an event involves a multitude of decisions, from the venue to the catering, but one aspect that can make...

Boiler Boiler
Guide4 days ago

When Is the Best Time to Replace a Boiler?

A boiler is a workhorse that works around the clock. It provides heat and warm water whenever needed. While horses...

Grammar Grammar
Tech4 days ago

Grammar Checkers Unleashed: Enhancing Writing Precision and Efficiency

In the present computerized age, the ascent of simulated intelligence innovation has presented new difficulties in regards to the genuineness...

Crypto Staking Crypto Staking
Crypto1 week ago

Is it Possible To Make Money On Crypto Staking in 2024?

In the modern world, cryptocurrencies and blockchain technologies are becoming increasingly popular, attracting the attention of investors and users from...

Lake Como Lake Como
Wedding1 week ago

How to Choose the Right Location for a Marriage Proposal in Italy and Lake Como

Proposing marriage is a unique and memorable moment in a couple’s life. Choosing the right location is crucial to creating...

Personal Injury Lawyer Personal Injury Lawyer
Law2 weeks ago

Finding the Best Personal Injury Lawyer in Lumberton, NC

Personal injury law is designed to protect individuals who have been harmed due to the negligence or wrongful actions of...

WhatsApp Business WhatsApp Business
Business2 weeks ago

Running WhatsApp Business with Pro+VPS for Android Emulator

WhatsApp Business is one of the most powerful tool for Business to manage customers communication. Running it can enhance the...

Civil Partnership Visa Civil Partnership Visa
Finance2 weeks ago

Civil Partnership Visa vs Spouse Visa: Which One is Right for You

Choosing the right visa to join your partner in the UK can be confusing. Two common options are the Civil...

Crypto Crypto
Crypto2 weeks ago

Staked Crypto – A Step-by-Step Guide for Beginners

Ethereum staking has become an increasingly popular way for cryptocurrency holders to earn passive income through staking rewards. In this...

Ethereum Staking Ethereum Staking
Crypto2 weeks ago

Maximizing Ethereum Staking Rewards: Tips and Tricks

Are you looking to maximize the potential of your Ethereum holdings? Stake Ethereum using OkayCoin and take advantage of the...