Britain's Liz Truss struggles to save premiership after tax U-turns

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Britain’s Prime Minister Liz Truss is insisting on her devotion to “sound” economics as she heads into crisis talks with her new finance minister, and a tense week of plotting by Conservative critics.

Markets tanked in response, driving up borrowing costs for millions of Britons, and the Conservatives’ poll ratings have similarly slumped, leading to open warfare in the governing party mere weeks after Truss succeeded Boris Johnson.

“It’s going to be very, very difficult, and I think we have to be honest with people about that,” Hunt said in a BBC television interview broadcast Sunday. Newspapers and several Conservative Party members questioned that verdict, arguing that Truss’s central policy platform now lies in ruins. Defence secretary Ben Wallace could be another compromise candidate for leader, the Sunday Mirror reported.

The coming week could be key for Truss, starting with the first reactions on bond and currency markets when trading resumes on Monday, and as her restive members of parliament reconvene in Westminster.

 

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