LONDON — British Prime Minister Liz Truss was propelled into high office by her bold promises to supercharge the country’s flagging economy with big tax cuts for corporations, investors and high earners.It is not going well. Her premiership and government are reeling, as markets — and members of her own party — wonder how she can simultaneously slash taxes and maintain social programs without deep borrowing.
, Kwarteng wrote that Truss had asked him to quit. “You have asked me to stand aside as your Chancellor. I have accepted,” he wrote. “It is important now as we move forward to emphasise your government’s commitment to fiscal discipline.”Kwarteng, a free-marketeer and zealous Brexiteer, lasted just a month in the top economic job. He flew home to London from Washington earlier on Friday, as British newspapers tracked his flight.
It was just three weeks ago, accompanied by bold headlines, that the chancellor announced the government’s new “Growth Plan,” which would be propelled by the “biggest package of tax cuts in generations.”Last week, Kwarteng said the government would ax its plan to lower the top income-tax rates paid by high-earning Britons.
Asked if he and his boss, the prime minister, would have their jobs in a month’s time, the chancellor replied, “Absolutely, 100 percent.”Truss was creamed in the weekly prime minister’s questions on Wednesday, and then gave a disastrous performance later in the day with a private meeting of lawmakers serving on backbenches, some of whom gave briefings to journalists after that made it sound pretty dire.
“Although some MPs say the plan to remove Truss would make the Conservatives look even more ridiculous than they are at the moment, a growing number believe it may be the only way to prevent a Labour landslide in 2024,” he wrote.
Of course none of this was anything to do with loopy Liz!
josephzeballos “resigns”
'it wasn't me, it was the black guy!' works every time
they picked him to roil the market and he was aware of it and agreed to be the scapegoat in return for a few bones.
Good.
That was quick.
And the newly installed finance minister just announced 5 mins ago they are sticking with the same policies they were pursuing yesterday.
He was sacked!!
Incoming Nobel Prize...
The factionalism, backstabbing and incompetence in the British government is something to behold.
He was sacked
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