Truss Fights for Survival as Prime Minister After Her Economic Plan Ends in Ruins
UK Prime Minister Liz Truss is fighting for her political survival as MPs from her own party turn against her following the catastrophic consequences caused by her economic plan.
Truss became prime minister on Sept. 5, but her position has been seriously weakened after her “mini-budget,” which included £45 billion ($50 billion) of unfunded tax cuts, spooked the financial markets, causing the pound to fall and borrowing costs to soar.
On Oct. 17, new Chancellor Jeremy Hunt overturned almost the entire economic plan set out just three weeks ago by his predecessor Kwasi Kwarteng with the prime minister’s enthusiastic backing.
After issuing a public apology on the BBC on Monday, Truss was forced to apologise again in the House of Commons on Wednesday….