After only six weeks in office |
Will British Prime Minister Truss fall this week?
After only six weeks in office, she is already fighting for her political survival…
Government chaos in London. British Prime Minister Liz Truss (47) may face a vote of no confidence later this week. More than 100 MPs from the ruling Conservative Party are ready to overthrow Truss, reports the „Daily Mail“ on Sunday, citing people familiar with the matter.
MPs want to urge Conservative Party committee chair Graham Brady to tell Truss “their time is up” or change party rules to allow for an immediate vote of confidence.
Graham is expected to resist, arguing that Truss and newly appointed Treasury Secretary Jeremy Hunt deserve a chance to outline economic strategy in the Oct. 31 budget debate, the report said.
Only last Friday did Truss attempt a liberation and fired Finance Minister Kwasi Kwarteng. Surprisingly, he had flown back to the British capital prematurely from the annual meeting of the World Bank and the International Monetary Fund (IMF) in Washington. He couldn’t save his job. Ex-Secretary of State Jeremy Hunt (55) took office as his successor.
Former Foreign Secretary Liz Truss succeeded Boris Johnson (58) as Tory leader in September. After numerous scandals, he had to vacate his post as prime minister. Russ had prevailed in the Conservative Party with 57.4 percent of the vote with promises of tax cuts and much stronger economic growth.
However, the government’s debt-financed tax plans have led to turbulence on the capital markets. The false start of Johnson’s successor also caused interest rates on government bonds to skyrocket and the Bank of England had to intervene in the bond markets. Inflation is high (last 9.9 percent), and the pension funds also got into trouble. (Archyde.com, shü)