The experience of Liz Truss A Downing Street It only lasted six weeks: Today, the British Prime Minister announced her resignation, declaring that she could not “honor the mandate” for which she was elected by the Conservative Party.
The end of the Truss government was in the air: yesterday 17 British Conservative MPs chose to no-confidence in it; The resignations of two key ministers within a few days – Interior Minister Braverman and, above all, Economics Minister Kwasi Kwarting, who was the chief architect of the much-criticised tax reform – exacerbated an already obvious issue.
The gearing choices were unsuccessful from every point of view, from the reintroduction crushing – that is, the extraction of natural gas by drilling in shale deposits – which has been banned since 2019 after a series of seismic events, and its outlandish ideas to boost growth – the economic plan, presented in September, focused on huge tax cuts for the wealthiest sectors of the population, who will be Financing them with debt, it caused a dramatic collapse of the pound, which fell to historic lows in the exchange rate with the dollar.
Now the new prime minister is expected within a week. The deeply divided Conservative Party is likely to choose between former chancellor Rishi Sunak and Penny Mordaunt, while current Chancellor of the Exchequer Jeremy Hunt withdraws his candidacy and keeps Boris Johnson on the sidelines.
Whatever happens, this is not a good time for the UK: a mess best summed up in the cover chosen by the famous British liberal weekly The Economist satirically titled “Welcome to Britain”, proposes a caricature of Liz Truss holding a fork with spaghetti and pizza, and suggests a parallel to the traditional instability of our country. However, Truss is the owner of a statistic that is hard to forget: She was the 15th (and last) Prime Minister under Elizabeth II and the first under Charles III.
The comparison to Italy is inevitable. Britain suffers from political instability, low growth and dependence on bond markets. Welcome to Britain https://t.co/4uoOyvV5zx pic.twitter.com/48AYCr0yKW
– The Economist October 19, 2022
