Liz Truss Resigns: Just 45 days, erroneous economic decisions and the resignations of important warlords ended Liz Truss’s innings in the British Prime Minister’s chair. Truss will remain the caretaker PM for the time being until the new Prime Minister takes office, but his announcement has deepened the political crisis for Britain, which is battling the rapidly rising winter and skyrocketing gas prices.
Announcing her resignation, Liz Truss admitted that she is not capable of fulfilling her mandate and that is why she is resigning. At the same time, he also announced that, in the next one week, the Conservative Party will elect a new leader. However, in the meantime, the opposition Labor Party has demanded immediate elections, calling it a shameful situation.
close to boris johnson
From the strong claim of Rishi Sunak, who finished second to Liz Truss in the Conservative Party, to the return of former Prime Minister Boris Johnson to the post of PM once again, every possibility is being talked about. Anyway, Truss is considered close to former Prime Minister Boris Johnson. The internal election exercise by October 28 will clear the picture on the election of the leader, but it is certain that the UK government and its treasury appear to be standing in a more vulnerable position after two months.
Why did you say I am a warrior?
Truss, returning with the title of resigning after fulfilling the responsibility of Britain’s shortest PM, had said in Parliament just a day earlier that she was a warrior and would not resign, but the picture changed in just 24 hours. He had to announce his resignation in front of media cameras outside the official residence of 10 Downing Street.
Why did Liz Truss resign?
In such a situation, the question is bound to arise that after all what happened that Truss had to resign? There are some old reasons and some new reasons at its root. He got this chair with the resignation of Boris Johnson, who was surrounded by cases like Partygate and Chris Pincher controversy between June and July 2022. At the same time, rising inflation in Britain and growing resentment over economic policies blocked the way for Johnson’s tenure. In such a situation, after a long internal election exercise, on September 5, Liz Truss defeated Indian-origin Rishi Sunak and won the post of head of the Conservative Party and became PM.
Within two days of Liz Truss becoming PM, Britain suffered a major setback and Queen Elizabeth, who appointed her, died. In such a situation, the first major responsibility of Truss as PM was the funeral of Queen Elizabeth, for which the heads of many countries of the world reached Britain.
What was in the mini budget?
After recovering from the mourning period, the Liz Truss government presented its first mini budget on 23 September. But as soon as it came to the fore, instead of a relief ointment, it was called a bomb of inflation. In this, it announced an energy scheme of 60 billion pounds during the next 6 months to deal with the energy crisis, but did not make it clear from where it would raise funds for this.
His government promised to give relief to the economy by announcing tax cuts, but also announced to resort to large-scale debt for this. In such a situation, obviously the benefit of tax deduction was more for the wealthy class only. Due to this, while the pound weakened against the dollar in the market, the displeasure of the people also increased.
The result of this pressure was that on October 3, PM Liz Truss and his Finance Minister Kwasi Quarteng had to withdraw the tax cut rates for the wealthy introduced in the mini budget. To handle the situation, though she talked about increasing the agenda of “Vikas..Vikas..and Vikas” in her speech on October 5, but failed to win the trust of the people.
Meanwhile, on October 14, Truss discharged his Finance Minister Quasi. Jeremy Hunt was handed the keys to the treasury in his place, but he also resigned on 19 October before the Truss government could recover from this setback. Indian-origin Suella tendered her resignation, acknowledging the omission of sending a ministerial statement on migration through a personal email to a parliamentary colleague, but this was followed by Suella’s controversial statements about FTA negotiations with India and within the Conservative Party. It was also seen to be associated with increasing resentment. This is perhaps the first time in British history that the top positions of both the monarchy and the government have changed in such a short time.
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