Liz sacked Kwarteng from his position as Finance Minister
London: Britain and Prime Minister Liz Truss are once again embroiled in a political crisis. The dismissal of the finance minister and the reshuffling of economic policy have created new issues. With this, the Conservative Party became a riotous ground once more, as opponents began to take action against Liz Truss.
With the appointment of Jeremy Hunt as the new chancellor, Liz Truss has begun to dig her own grave, which has been harshly criticised by senior leaders. Liz’s supporters argue that changing the corporation tax policy will harm the country’s growth and contradicts what he said during the campaign. Economists warn that the latest moves will do nothing to restore the UK’s credibility.
The press conference on Friday
The Prime Minister’s Downing Street press conference altered the political landscape. On Friday, Truss fired her chancellor, Kwasi Kwarteng, and also announced her withdrawal from the proposal to increase corporation tax from 19% to 25%. The Truss announced earlier this month that she had abandoned plans to raise income taxes.
While she was in the United States for talks with the prime minister, Liz abruptly removed Kwarteng from his position as finance minister.
Scotland’s First Minister, Nicola Sturgeon, has called for a general election. Truss, according to Nicola, is ineligible to be Prime Minister. Senior party members point out that Liz Truss has appointed her successor as chancellor, Jeremy Hunt.
The Liberal Democrats and the Scottish National Party both called for a general election. In the meantime, Shadow Chancellor Rachel Reeves stated that the country required a new Labour-led government.
Is Liz Truss going the Boris route?
Truss stated that she would remain prime minister in order to achieve her economic growth goal. Because of her large majority in parliament, Truss said a general election could not be called until 2024. It is expected that removing Liz Truss will be difficult if the Prime Minister clings to power like Boris Johnson. Several ministers had to resign in order for Boris Johnson to resign. Meanwhile, Liz Truss has received support from former Chancellor Nadim Zahawi and Deputy Prime Minister Therese Coffey.
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