UK: Truss continues to fight to stay in Downing Street
In the storm for several weeks, the Prime Minister again defended her policy on Sunday.
Attacks and criticism are intensifying in the Conservative camp against British Prime Minister Liz Truss, who was still trying on Sunday to defend her new economic course to save her head in Downing Street.
In the storm for several weeks, Ms. Truss again justified her policy and her reversals of the last few days on Sunday, which have largely damaged the confidence of voters and her party.
J&# x27;I listened, I understood, writes the conservative leader in a column published in the popular daily TheSun.
“We cannot go down the path of a fast-growing, low-tax economy without maintaining market confidence in our commitment to sound money.
— Liz Truss, British Prime Minister
She also acknowledges the failure of her mini-budget announced on September 23.
Providing massive debt-financed spending and tax cuts, he had rattled markets, sending the pound plummeting and interest rates jumping.
The prime minister held a crisis meeting at her country residence on Sunday with her new finance minister, Jeremy Hunt, appointed on Friday after Kwasi Kwarteng was sacked, to prepare a new budget plan.
Close to Rishi Sunak, Boris Johnson's former finance minister and opponent of Liz Truss in recent months in the campaign for Downing Street, Hunt defended the new direction taken by the government on the BBC.
He reiterated that he should take tough action, with tax hikes and spending cuts across government departments.
A prospect that prompted various unions to threaten on Sunday to launch concerted strikes across the country, at a time when the government wants to limit the right to strike in the face of the resurgence of social movements.
The new budget plan that Jeremy Hunt is due to present on October 31 promises to be a complete change of course from the policy initially carried out by Liz Truss.
According to a source of his entourage quoted by the Sunday Telegraph, the new Minister of Finance now sees himself as the British Mario Draghi, an allusion to the head of the outgoing Italian government called to the rescue in early 2021 to manage his country in the midst of a pandemic.
The governor of the Bank of England, Andrew Bailey, on Saturday welcomed the immediate and clear convergence of views between the central bank and the new chancellor. A satisfaction that confirms the ascendancy that Jeremy Hunt seems to have over a weakened Liz Truss after only 40 days in power.
Hunt takes control as plotters encircle a weakened prime minister, headlined The Times on Sunday, recalling that the Tories are still looking for a way out. ; ousting from power.
Confidence will not be restored as long as she remains in her post, asserts the daily, which takes up the cause of Rishi Sunak.
The latter would act behind the scenes with Conservative parliamentarians to take the helm, according to the press, which also cites Defense Minister Ben Wallace as a potential recourse.
The experienced parliamentarian Conservative Crispin Blunt added to Channel 4: “I think the game is over and the question is now how to deal with his estate,” he said.
Alicia Kearns, new chair of the highly influential Foreign Affairs Committee in the House of Commons, found the question of whether or not Truss would stay in Downing Street to be a very difficult one.
“We were challenged on our moral credibility [under Johnson]. And now, we are questioning our budgetary credibility.
— Alicia Kearns, Chairman of the House of Commons Foreign Affairs Committee
The polls are feeling the pinch, with a considerable lead now given to the #x27;Labour opposition, two years from the next general election.
The Prime Minister is in power, assured Jeremy Hunt, in an attempt to defend Ms Truss.
She has changed the way we will [achieve our goals], but it has not changed the direction, which is to grow the country, he insisted.
The week that comes will be crucial for Liz Truss, with the market reaction to the latest political developments over the weekend starting Monday.