Liz Truss, the British prime minister, announced on Thursday that she will step down from her position after only six weeks in office due to an economic plan that angered many members of her own party and rattled financial markets.
By Oct. 28, a new leader of the Conservative Party will be chosen. The Conservatives have a sizable majority in parliament and do not need to schedule a general election for another two years.
Rishi Sunak, a former finance minister, is most likely to face Penny Mordaunt in that race, although former premier Boris Johnson, who was forced from office in July when his ministers all quit at once, could also run again.
Speaking to reporters outside her office at Number 10 Downing Street, Truss acknowledged that she had lost the support of her party and announced that she would leave next week, making history’s shortest-serving prime minister in the UK.
Thus, Truss announced, “I have spoken to His Majesty the King to advise him that I am retiring as leader of the Conservative Party.” Her husband was her only supporter; her aides and devoted ministers were conspicuously absent.
After being chosen in September to lead the Conservative Party by its members—not by the general public—and with backing from only about a third of the party’s parliamentarians, Truss became Britain’s fourth prime minister in six years.
Deregulation, tax cuts financed by borrowing, and a strong turn to the right on social and cultural matters were among her campaign pledges.
She was appointed on September 6, and last week, after their plans for significant unfunded tax cuts destroyed the pound and British bonds, she was obliged to fire her finance minister and closest political friend, Kwasi Kwarteng, and renounce nearly the entirety of her economic programme. Her and the Conservative Party’s popularity ratings plummeted.
The impression of turmoil in Westminster increased on Wednesday when she lost the second of the government’s four most senior ministers, was mocked when she attempted to defend her record before parliament and witnessed her lawmakers openly argue over policy.
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In an effort to reassure investors and repair Britain’s fiscal reputation, new finance minister Jeremy Hunt is currently scrambling to identify tens of billions of pounds in spending reductions.
Millions of Britons are facing a cost-of-living crisis as the economy is on the verge of recession and inflation is at a 40-year high.
On October 31, Hunt, who has ruled himself out of the leadership campaign, is scheduled to present a revised budget.
RACE FOR DOWNING STREET UPCOMING
The fact that yet another unpopular prime minister was forced from office highlights how tumultuous British politics have grown since the 2016 vote to leave the European Union sparked a fight over the country’s future.
Sunak, who continues to be extremely unpopular with certain Conservative Party members after he assisted in sparking the summer rebellion against Johnson, is one of those who is anticipated to seek the position.
Along with Suella Braverman, the interior minister who resigned on Wednesday, former defence minister Penny Mordaunt is another candidate.
Johnson, who is still being investigated to see if he deceived the legislature after he and his employees hosted a number of events during COVID-19 lockdowns, may also run.
Since he was elected mayor of London in 2008, the 2016 Brexit vote has loomed large over politics. In spite of leading his party to a resounding electoral win in 2019, he was forced from power in July by colleagues who disapproved of his behaviour.
“I hope your holiday was enjoyable, boss. James Duddridge, a Conservative lawmaker, tweeted that it was time to return. There are a few problems at work that need to be resolved. #bringbackboris”.
It is anticipated that party members and Conservative politicians will have a voice in the vote. The majority of members, according to a poll conducted earlier this week, wanted Johnson to come back, although Sunak was the betting favourite over Mordaunt, Ben Wallace, the defence minister, and Johnson.
Truss, on the other hand, will go down in history as the prime minister with the shortest time in office, succeeding George Canning, who had served in that capacity for 119 days when he passed away in 1827.
Many Conservative legislators have expressed open desperation about the status of Britain’s most successful political party as a result of the swift demise of Truss in only the most recent round of unrest to rock Westminster.
One politician answered when asked if they could bounce back from this, “Never in a million years.” A general election has been called by the main opposition Labour Party as well as many people.
Neither she nor the policy choices she made were approved by the British people, according to Kelly Rodgers, 50, who spoke to Reuters outside Downing Street. Therefore, it is right and suitable for her to leave.
However, she also serves as a metaphor for her party, which is in total disarray.
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