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 oust Truss, The Guardian reports “daily Mail” Sunday, according to people familiar with the matter.
MPs want to urge Conservative Party Committee Chairman Graham Brady to tell Truss “their time is up” or to change the party’s rules to allow for an immediate vote of confidence.
The report said Graham is expected to resist, arguing that Truss and newly appointed Treasury Secretary Jeremy Hunt deserve an opportunity to put an economic strategy in place at the October 31 budget discussion.
Just last Friday, Truss attempted to liberate and fired Finance Minister Kwasi Koarting. Surprisingly, he returned to the British capital prematurely from the annual meeting of the World Bank and the International Monetary Fund in Washington. He could not save his job. Former Secretary of State Jeremy Hunt (55) took over as his successor.
Former Secretary of State Liz Truss succeeded Boris Johnson (58) as leader of the Conservative Party in September. After numerous scandals, he was forced to leave his post as prime minister. Ross won the Conservative Party with 57.4 percent of the vote with promises of tax cuts and much stronger economic growth.
However, debt-financed government tax plans led to turmoil in the capital markets. The false start of Johnson’s successor also caused interest rates on government bonds to rise dramatically and the Bank of England was forced to intervene in the bond markets. Inflation is high (another 9.9 percent), and pension funds have also run into problems. (Reuters, Shaw)