Tag: Liz Truss

International News & Politics

Liz Truss Said She Went Too Far Too Fast On Economic Reforms

HT News

Liz Truss choose to apologize for going “too far too fast” on reforms that triggered economic turmoil for Britain and led to over 100 Tory MPs expressing no confidence in the Truss government. But her apologies failed to calm the dissatisfaction.

HIGHLIGHTS

• Liz Truss withdrew the tax cuts unveiled last month
• Jeremy Hunt is made the new finance chief replacing Kwasi Kwarteng
• The opposition Labor Party held the ruling Tory Party for the chaos

What Did Liz Truss Say In Her Defense?

An embattled Truss appeared defensive while offering her apologies for the quick economic decisions her government took to contain the economic situation of the country.

She told the BBC that she wanted to accept responsibility and say sorry for the mistakes that had been made. She accepted that her government went too far and too fast on the economic reforms. She further maintained that she was committed to delivering for the country.

What Were Those Economic Reforms?

Liz Truss Said Economic Reforms

Jeremy Hunt was brought in to undo the economic reforms started by sacked finance chief Kwasi Kwarteng. And Hunt scrapped the plans to reduce the lowest income tax. He even curbed the government’s flagship energy price freeze till April after which the government will review the energy support package. Hunt also met the governor of the Bank of England, Andrew Bailey, and the head of the Debt Management Office for talks over tax reforms.

What Do Experts Call The New Economic Reforms?

The tax-slashing platform on which Liz Truss was elected Tory leader on Monday is called Trussonomics by analysts. Laura Suter, head of personal finance at stockbroker AJ Bell, said that Monday’s … Read the rest

International News & Politics

Liz Truss Is Facing A No Confidence Motion For This Reason

HT News

Conservative Party is facing discontent from hundreds of its members of parliament (MPs) who want to oust Liz Truss due to her failure on several fronts, especially economic. They have submitted letters of no confidence in Truss to Graham Brady, the head of the Conservative Party’s committee which organizes the leadership contest.

HIGHLIGHTS

• Liz Truss is facing no-confidence motion from her party’s MPs
• Conservative Party wants to allow Truss to present the budget on October 31
• Removing Truss could trigger general elections

What Is The No Confidence Motion Against Liz Truss?

No Confidence Motion Against Liz Truss

According to Daily Mail, Liz Truss has lost the confidence of Conservative Party lawmakers that have approached Graham Brady with their letters of no confidence in Truss. They want Brady to tell Truss that “her time is up” or to allow an immediate vote of no confidence in her leadership. And they aren’t averse to changing the political party rules to achieve the objective.

How Is Conservative Party Dealing With The Situation?

The situation is getting more problematic despite warnings that a change of guard at this moment could trigger a general election. Graham Brady is resisting the move by putting the argument that the Liz Truss government including the newly appointed Chancellor Jeremy Hunt should be given an opportunity to set out economic strategy in a budget on 31 October.

Britain is engulfed in a political crisis since it voted out of the European Union in 2016. The country has lost three prime ministers since then. Liz Truss who won the Conservative Party leadership on the promise of slashing taxes last month is alleged to have ditched key parts of the programme.

… Read the rest
International News & Politics

Liz Truss Becomes The Third Female Prime Minister Of the UK

HT News

Liz Truss is the new prime minister of the UK. She received 57.7% votes while her closest rival Rish Sunak got only 42.6% votes. The results for the closely fought battle for the top post were announced around 12:35 pm on Monday.

HIGHLIGHTS

• Rishi Sunak did better than expected in the Tory Party elections
• He congratulated Liz Truss and offered all support
• Liz Truss is unlikely to accommodate Rishi Sunak in her government

What Are The Results Of The Tory Party Elections?

The total number of eligible voters was 172,437 out of which 654 votes were rejected. The share of Liz Truss and Rish Sunak’s votes was 60,399 and 81,326 respectively. The turnout of the votes was 82.6%. Sir Graham Brady, returning officer for the Conservative and Unionist Party leadership election announced Liz Truss as the elected candidate.

How did Rishi Sunak Lose The Elections?

Rishi Sunak Lose The Elections

Rishi Sunak did fairly well throughout the seven weeks long campaigning but he couldn’t withstand the accusation of “backstabber” that followed him throughout the campaign. Boris Johnson blamed Rishi Sunak for the downfall of his government. He even started an “anyone but Rishi” movement to defeat Rishi. On the contrary, Liz Truss presented herself as a loyalist to Boris.

Rishi Sunak also face personal attacks on his wife like she wasn’t paying taxes while Rishi Sunak was putting them up for others. His non-dom status was also a reason for his defeat. The Tory members also rejected his proposal that the government shouldn’t cut taxes before it had tamed elections. But if Liz Truss fails to win the 2024 general elections, Rishi Sunak could try another attempt at leadership.

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International News & Politics

Liz Truss Could Be The Third Female Prime Minister Of The UK

HT News

Liz Truss is leading in the race to become the next prime minister of the UK after Boris Johnson resigned from the top post in July following a slew of scandals and resignations from his government.

Here’re 10 Points About Liz Truss’ Candidature

Liz Truss Could Be The Third Female Prime Minister Of The UK
  1. Liz Truss (47) will become the third female prime minister of England after Theresa May and Margaret Thatcher. She has consistently been ahead of her closest rival Rishi Sunak (42) in polling among the estimated 200,000 Tory members eligible to vote.
  2. But 52% said she would make a “poor” or “terrible” prime minister and 43% said they didn’t trust her “at all” to deal with burning issues. The UK is facing its worst cost-of-living crisis due to double-digit inflation and high energy prices due to the Ukraine war.
  3. Liz Truss had campaigned on a promise to slash taxes and prioritize economic growth. She said she would present a full plan on how they were going to reduce taxes within one month of taking the charge.
  4. Liz Truss started her political career as a teenage member of the Liberal Democrats before switching to the right-wing Conservatives. In 2016, she campaigned for the European Union but changed her stance when Britons backed Brexit.
  5. Truss became finance minister in the Boris Jonson government last year. She also held a series of ministerial posts in departments including education, international trade, and justice.
  6. A picture of Liz Truss posing in a tank in Estonia and wearing a fur hat in Moscow has earned her comparisons to Tory icon Thatcher.
  7. Allies have sought to soften her visibly stiff style by revealing her love of karaoke and socializing.
  8. Rishi Sunak attacked Truss’s tax-slashing plans as reckless and vowed further
… Read the rest