Tag: Truss

Another U-turn as PM Liz Truss fights for her job

Britain’s new finance minister Jeremy Hunt has signalled further reversals from Prime Minister Liz Truss and said the PM has made mistakes as she battles to keep her job.

Just over a month into her term, Ms Truss fired Kwasi Kwarteng as her chancellor of the exchequer on Friday (local time) and scrapped parts of their controversial economic package.

With opinion poll ratings dire for both the ruling Conservative Party and the prime minister personally, many of her own lawmakers are asking, not if, but how Ms Truss should be removed.

Ms Truss has turned to Mr Hunt to help salvage her premiership less than 40 days after taking office.

The move and Mr Hunt’s decisive statements have led political commentators to question ‘Who’s in charge?’ and whether the prime minister has killed her own authority.

 

Source: Another U-turn as PM Liz Truss fights for her job

UK Scraps Tax Cut For Wealthy That Sparked Market Turmoil | HuffPost Latest News

Chancellor of the Exchequer Kwasi Kwarteng, and Prime Minister Liz Truss during a tribute to the late Queen Elizabeth II at the start of the Conservative Party annual conference at the International Convention Centre in Birmingham on Oct. 2, 2022.

Truss is a YO-YO PM

Treasury chief Kwasi Kwarteng announced a U-turn over an unfunded tax cut unveiled just days ago that proved unpopular even with his Conservative Party.

Source: UK Scraps Tax Cut For Wealthy That Sparked Market Turmoil | HuffPost Latest News

Opinion | Britannia Unhinged: UK’s Return to Trickle Down Economy is Suicide | Gwynne Dyer

PM Liz Truss protested in Birmingham, UK

Liz Truss’s government will not last a year, and the Conservative Party may then split, leading to an early election (due anyway by 2024). The Labour party is already seventeen points ahead in the polls, and its lead may even widen. It will be a wild ride, but the next British government will be led by Labour, which will rapidly reverse everything that Truss aspires to do.

Source: Opinion | Britannia Unhinged: UK’s Return to Trickle Down Economy is Suicide | Gwynne Dyer

Britain’s Tory Meltdown Is a Case of Socially Determined Stupidity

The new Conservative prime minister Liz Truss has experienced a spectacular humiliation during her first weeks in office. Her self-defeating agenda reflects the mindset of a Thatcherite ideologue managing an economy already ravaged by decades of Thatcherism.

The new Conservative administration, a little over two weeks old, is already reeling. Its “mini-budget,” a cocktail of substantial tax cuts with high borrowing and state spending, has helped tank the pound sterling and discredit Britain in the eyes of traders.

 

Source: Britain’s Tory Meltdown Is a Case of Socially Determined Stupidity

Banks save UK economy as Liz Truss plays ideological games

Tory leadership candidate Liz Truss (Image: AAP/EPA/Neil Hall)

The near collapse of the UK financial system yesterday is one of the biggest economic stories of the year. It should be a hard lesson for politicians the world over about economic policymaking and the importance of independent central banks.

Source: Banks save UK economy as Liz Truss plays ideological games

Fox personalities laud UK prime minister Truss’ tax cuts for wealthy Britons, say GOP should replicate in the US | Media Matters for America

Liz Truss

Right-wing media figures are toasting United Kingdom prime minister Liz Truss’ massive tax cuts geared toward the wealthy as a potential model for the U.S. if Republicans return to power.

Source: Fox personalities laud UK prime minister Truss’ tax cuts for wealthy Britons, say GOP should replicate in the US | Media Matters for America

Casting Malevolent Shadows: Liz Truss Wins the Tory Leadership – » The Australian Independent Media Network

The Sunday Mirror has reported that 12 Tory MPs are willing to submit letters to the 1922 Committee to express no confidence in the incoming prime minister – and this, even before Truss sets foot in 10 Downing Street. For Jake Berry, MP for Rossendale and Darwen in Lancashire, such a move was “certainly suicidal”, while former Conservative chancellor Lord Hammond warned Johnson not to linger like a “malevolent shadow”.

The Truss factor has also given British Labour a boost of seven percentage points. Party strategists, as part of this bounce, have already readied a campaign in the so-called Red Wall seats, using previous, leaked remarks from Truss about how British workers produced “less per hour” than their foreign equivalents, “and that’s a combination of, kind of, skill and application.” But opinion polls do not deliver election victories. The Tory party machine, cunning, ruthless and mendacious, does at least know something about that.

 

Source: Casting Malevolent Shadows: Liz Truss Wins the Tory Leadership – » The Australian Independent Media Network

Who is Liz Truss, the new UK prime minister?

Members of the Conservative party – the approximately 180,000 people who elected the new leader – will be delighted that the continuity candidate got over the line. Similarly, strategists for the opposition parties – Labour, the Liberal Democrats and the Scottish National Party – will also be delighted that the continuity candidate got over the line. In electing Truss as leader, Conservative members have increased their party’s chances of losing the next general election.

Source: Who is Liz Truss, the new UK prime minister?

UK Prime Minister: Liz Truss wins Britain’s top job

Margaret Thatcher in 1986 and Liz Truss earlier this year.

Truss is noted for being against and then for Brexit, and then for and against Climate change. She’s nobody’s Truss. The UK is lost more than it realises.

Channelling Margaret Thatcher, her political idol, Truss donned a helmet and radio headset in images reminiscent of the former prime minister taking a spin in a tank while visiting British forces in West Germany in 1986.

In the months since, the 47-year-old has even been accused of deliberately dressing like Thatcher, the first woman to become British prime minister, whose decade-long reign in Downing Street remains divisive across the union decades on.

Source: UK Prime Minister: Liz Truss wins Britain’s top job