UNITED KINGDOM: After only 45 days as prime minister, Liz Truss announced her resignation. She claims she was never given a “realistic chance” to carry out her tax-cutting plan.
In her first in-depth comments since leaving the job in October, Truss said that she was forced out by a “strong economic establishment” and a lack of support from within the Conservative Party.
The minibudget in September, which at first included tax cuts of £45 billion, collapsed the markets and caused the value of the pound relative to the dollar to reach an all-time low.
After moving back to the Conservative bench, Truss now holds the record for being prime minister for the least amount of time.
The Conservative Growth Group was recently set up by her allies, including former cabinet member Simon Clarke, to help her push her plan to cut taxes.
Truss is going to give a “hawkish” speech about China after talking to the media several times over the next week. This could add to the pressure already on Rishi Sunak, who took over for Truss in October. In a speech that is expected to focus on Beijing’s threat to Taiwan, Truss will later this month attend a gathering of foreign politicians in Japan.
As many Tory MPs are eager than Sunak to swiftly slash taxes and have a more assertive view of China, her return could exacerbate divisions within the party.
The Inter-Parliamentary Alliance on China (IPAC), a group trying to put pressure on Beijing from all over the world, is putting on the event on February 17 where Truss will speak.
Along with Scott Morrison of Australia and Guy Verhofstadt of Belgium, two more former prime ministers are likely to join her.
After Truss’ resignation, former finance minister Rishi Sunak won the race to be Britain’s next prime minister. He also became the first British Asian to assume the role.
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