Anyone who has seen debates in the House of Commons knows that the tone in British politics is a little harsher than in Norway. But the pressure on Liz Truss is very special even at the British level.
Now she can hold the record as the country’s shortest serving prime minister Long political history of the country.
The demands that Truss must resign do not only come from the opposition. They have come from several key politicians in her Conservative party who have more than enough after just six weeks.
Since she took over as Prime Minister from Boris Johnson, things have deteriorated.
- Two days after the capture, Queen Elizabeth died.
- When the period of mourning ended, then-Finance Minister Kwasi Kwarting put forward plans to implement sweeping tax cuts. Cuts that Truss promised in his campaign to become the new prime minister.
- Financial markets responded by sending the pound into the vault. The Bank of England had to step in with huge sums in an attempt to save people’s pensions.
- Ahead of the weekend, the British got their fourth chancellor in four months when Liz Truss fired Kwarteng to implement her tax policy.
- Jeremy Hunt took charge, effectively changing the entire economic policy under which she won the premiership.
- Many now believe that Liz Truss is no longer the president and that she should step down.
So it wasn’t a good start for Truss as prime minister. Her starting point wasn’t good either.
When she won the Conservative Party leadership battle this summer, she was by a smaller majority than rival Rishi Sunak than expected among party members. She was not a favorite among politicians in the House of Commons.
Now there are secret meetings and chatter in the hallways about her dismissal, just a few weeks into her career.
Three Conservative MPs have announced their demands for Liz Truss’ resignation. Many are plotting in the background to add their voice to the public pressure.
At the same time, the debate continues loudly about how the party can change the rules so that Truss is not protected from expulsion for an entire year from the time she takes office.
The return of Boris Johnson?
The blunders have increased the likelihood of Johnson’s return, according to British media. They also wrote that Rishi Sunak, Liz Truss’ rival in the battle for the position of Prime Minister, is a potential heir.
The economic policy that Liz Truss is now introducing through her new finance minister is more similar to the economic policy launched by Sunak than the one that Truss won.
Other potential future prime ministers include Ben Wallace, Benny Mordaunt, and new Treasury Secretary Jeremy Hunt.
On the other hand, former Culture Minister Nadine Doris believes that the party has only one choice:
– Either we support Liz, or we bring Boris back. The alternative is to hold new elections in a few weeks.
And that’s something the Conservatives don’t want right now.
The party slipped in the opinion polls after introducing the so-called mini-budget with big tax cuts.
– You simply cannot lead the country in this way, historian Anthony Seldon tells Sky News.
Among others, he has written the political biographies of former Prime Ministers Margaret Thatcher, John Major, Tony Blair, Gordon Brown, David Cameron and Theresa May.
– This is unparalleled. Never before have we seen such a rapid replacement of finance ministers and prime ministers at the same time within one party.
Seldon believes that the political chaos is exacerbated by the fact that there has also been a change of king and that the country is in an economic crisis.
– If there is another change of prime minister now, it is unprecedented. The historian says that you simply cannot lead a country in this way.
Cancellation of the Prime Minister’s tax cuts
Among the many who believe Liz Truss will be forced to resign in the next few months is former Conservative Chancellor of the Exchequer George Osborne.
– For now, she’s Chet, the Prime Minister in name only (PINO, Prime Minister in name only), Osborne tells Channel 4.
Truss is thought to be out before Christmas, and it is believed that Jeremy Hunt is now effectively leading the country.
This morning he broke Liz Truss’ economic policy.
- He has reversed nearly all of the tax cuts in his so-called mini-budget.
- The value-added tax has yet to be reduced from 20 to 19 percent.
- It does not reduce corporate tax.
- It shortens the period of time the family’s energy support must last.
It is not right to finance this by borrowing more money, said Hunt.
By this he says that his boss’s policy is not responsible. The new finance minister was forced to take measures to calm the financial market that has been chaotic in recent weeks.
Central bank support purchases ended before the weekend. They intended to secure pension payments to the people. Now the Bank of England is also announcing a sharp increase in interest rates. So we will see if this, along with the exchange rate change now announced, is enough to stabilize the British economy.
That probably won’t be enough to take the stress off Liz Truss.
“Coffee trailblazer. Certified pop culture lover. Infuriatingly humble gamer.”