Liz Truss resigns as the United Kingdom's Prime Minister after six weeks in office. Rishi Sunak, Penny Mordaunt and even former Prime Minister Boris Johnson are among the likely frontrunners to replace Truss.

With Liz Truss quitting, here are the possible UK PM contenders

Liz Truss resigns as the United Kingdom's Prime Minister after 45 days in office. 'I cannot deliver the mandate on which I was elected by the Conservative Party' Truss said in a statement outside 10 Downing Street.

'Cannot deliver the mandate I was elected on', says Liz Truss

When the US&nbsp;succeeded in using Ukraine as the bait and battleground to provoke Russia and draw it into a war, the sole superpower and its allies, particularly the UK,&nbsp;sounded supremely confident about the success of Ukraine’s cause. There were dire pronouncements about how Russia would be bled in this war and President Vladimir Putin made to bite the dust.&nbsp;

There were claims of Russia being squeezed by sanctions and isolated; its economy being wrecked and the rouble rendered worthless; and, Putin being cornered to the point, perhaps, of even being forced out of Russia’s presidency.&nbsp;

The so-called “international community” launched a no-holds-barred campaign to punish Russia and hammer its economy. The US, after its debacle in Afghanistan, was in desperate need of a situation for military and economic muscle-flexing to show that it remains a superpower.&nbsp;

However, nothing has panned out as the US&nbsp;and the West expected. &nbsp;

Doubtless, the war has not gone Russia’s way either. Far from being a swift “special operation”, the war is dragging on with Ukraine’s fierce fight back, forcing Russia to retreat at times; and, regroup to rejoin battle in territories where it was worsted.&nbsp;

For all that, Russia is doing better than its US-led foes had foreseen. It is the leaders of the US and its western allies who are in trouble. Europe has taken an economic hit. To make matters worse, the US&nbsp;economy is gaining at the expense of Europe, which faces the grim prospect of a dark and cold winter with fuel scarce and food dear. Besides, Europe is forced to buy US&nbsp;gas at exorbitant prices. The worst of the economic crisis fuelled by inflation and food prices is yet to unravel.&nbsp;

Britain’s economic woes, too, are rooted in the West’s sanctions against Russia. “The shockwaves from the Russian invasion of Ukraine will cut UK living standards by £2,500 per household, lead to more persistent inflationary pressure and slow the economy to a standstill next year, economists fear,”&nbsp;The Guardian&nbsp;wrote as early as March. &nbsp;

In recent weeks, the pound’s value has plummeted, treasury bonds have crashed and the market is tanking even as Britain is reeling under a public debt burden of about £60 billion. &nbsp;

The political consequences of the war and sanctions have been even more unsettling. The first of the western powers to be plunged into a crisis that is still unfolding is Britain. Two prime ministers have had to resign in quick succession. First to fall was Boris Johnson, who championed sanctions and backed Ukraine. He was succeeded by Liz Truss, who resigned 45 days after taking charge as prime minister. Days before she resigned, two of her ministers, Kwasi Kwarteng (Finance) and Suella Braverman (Home), had quit. There might be worse to come.&nbsp;

Although the US economy&nbsp;its military-industrial complex and the dollar&nbsp;has benefited from the war in Ukraine, President Joe Biden appears to be in political trouble. The mid-term elections may see the Democrats losing seats, and their majority, in both the Senate and the House of Representatives. That would reduce Biden to a lame-duck president in the remaining two years of his term.&nbsp;

The situation in other G7 nations such as France, Germany and Italy is also worrying, and that has consequences for the cohesion and efficacy of the US-led alliance. As the war drags on, these economies may continue to be dragged down.&nbsp;

When the US succeeded in using Ukraine as the bait and battleground to provoke Russia and draw it into a war, the sole superpower and its allies, particularly the UK, sounded supremely confident about the success of Ukraine’s cause.

When the US succeeded in using Ukraine as the bait and battleground to provoke Russia and draw it into a war, the sole superpower and its allies, particularly the UK, sounded supremely confident about the success of Ukraine’s cause. There were dire pronouncements about how Russia would be bled in this war and President Vladimir Putin made to bite the dust. There were claims of Russia being squeezed by sanctions and isolated; its economy being wrecked and the rouble rendered worthless; and, Putin being cornered to the point, perhaps, of even being forced out of Russia’s presidency. The so-called “international community” launched a no-holds-barred campaign to punish Russia and hammer its economy. The US, after its debacle in Afghanistan, was in desperate need of a situation for military and economic muscle-flexing to show that it remains a superpower. However, nothing has panned out as the US and the West expected. Doubtless, the war has not gone Russia’s way either. Far from being a swift “special operation”, the war is dragging on with Ukraine’s fierce fight back, forcing Russia to retreat at times; and, regroup to rejoin battle in territories where it was worsted. For all that, Russia is doing better than its US-led foes had foreseen. It is the leaders of the US and its western allies who are in trouble. Europe has taken an economic hit. To make matters worse, the US economy is gaining at the expense of Europe, which faces the grim prospect of a dark and cold winter with fuel scarce and food dear. Besides, Europe is forced to buy US gas at exorbitant prices. The worst of the economic crisis fuelled by inflation and food prices is yet to unravel. Britain’s economic woes, too, are rooted in the West’s sanctions against Russia. “The shockwaves from the Russian invasion of Ukraine will cut UK living standards by £2,500 per household, lead to more persistent inflationary pressure and slow the economy to a standstill next year, economists fear,” The Guardian wrote as early as March. In recent weeks, the pound’s value has plummeted, treasury bonds have crashed and the market is tanking even as Britain is reeling under a public debt burden of about £60 billion. The political consequences of the war and sanctions have been even more unsettling. The first of the western powers to be plunged into a crisis that is still unfolding is Britain. Two prime ministers have had to resign in quick succession. First to fall was Boris Johnson, who championed sanctions and backed Ukraine. He was succeeded by Liz Truss, who resigned 45 days after taking charge as prime minister. Days before she resigned, two of her ministers, Kwasi Kwarteng (Finance) and Suella Braverman (Home), had quit. There might be worse to come. Although the US economy its military-industrial complex and the dollar has benefited from the war in Ukraine, President Joe Biden appears to be in political trouble. The mid-term elections may see the Democrats losing seats, and their majority, in both the Senate and the House of Representatives. That would reduce Biden to a lame-duck president in the remaining two years of his term. The situation in other G7 nations such as France, Germany and Italy is also worrying, and that has consequences for the cohesion and efficacy of the US-led alliance. As the war drags on, these economies may continue to be dragged down.

WION Spotlight | Sanctions blowback: For whom the bells toll  

Liz Truss resigns as the United Kingdom's Prime Minister after six weeks in office. Speaking outside the door of her Number 10 Downing Street office, Truss accepted that she could not deliver the promises she made when she was running for Conservative leader, having lost the faith of her party.

UK PM Liz Truss resigns after growing calls of an ouster

UK Prime Minister Liz Truss's Premiership is under renewed pressure after another chaotic day which saw the resignation of her Home Secretary Suella Braverman.

Liz Truss vows to stay, but is on brink as Home Secretary quits

UK PM Liz Truss vows to stay but is on brink after Braverman's resignation

UK’s home secretary Suella Braverman stepped down on Wednesday just six weeks after being appointed to the post, putting the Liz Truss government in further turmoil.&nbsp;

According to reports, Braverman offered to resign after admitting to accidentally leaking national security details.&nbsp;

She is the second Cabinet minister to leave the Liz Truss government after finance minister Kwasi Kwarteng quit over the mini-budget fiasco last week.

Soon after&nbsp;Braverman's resignation, Prime Minister Liz Truss's office named&nbsp;Grant Shapps, the former transport secretary and one of Truss’s most prominent critics, as the next home secretary.

Truss's office said former transport minister Shapps had been appointed interior minister, replacing Suella Braverman who resigned earlier on Wednesday.&nbsp; 
 
Shapps told the Telegraph, "It's a great honour to be appointed as Home Secretary today. I'm looking forward to getting stuck into the role, providing the sort of security the British people need, regardless of what else is happening in Westminster. The Home Office is at the heart of that in so many ways, it's a great office of state, I'm obviously honoured to do that role."&nbsp;

Earlier, Braverman took to Twitter to explain the reason behind her resignation.

“Earlier today, I sent an official document from my personal email to a trusted parliamentary colleague as part of policy engagement, and with the aim of garnering support for government policy on migration.”

“This constitutes a technical infringement of the rules. As you know, the document was a draft Written Ministerial Statement about migration, due for publication imminently. Much of it had already been briefed to MPs. Nevertheless, it is right for me to go.”

“As soon as I realised my mistake, I rapidly reported this on official channels, and informed the Cabinet Secretary. As Home Secretary, I hold myself to the highest standards and my resignation is the right thing to do. The business of government relies upon people accepting responsibility for their mistakes.”

“Pretending we haven't made mistakes, carrying on as if everyone can't see that we have made them, and hoping that things will magically come right is not serious politics. I have made a mistake; I accept responsibility; I resign.”&nbsp;

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My letter to the Prime Minister. <a href="https://t.co/TaWO1PMOF2">pic.twitter.com/TaWO1PMOF2</a>
— Suella Braverman MP (@SuellaBraverman) <a href="https://twitter.com/SuellaBraverman/status/1582762282626736128?ref_src=twsrc%5Etfw">October 19, 2022</a></blockquote>
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Suella's&nbsp;statement on taking responsibility for her mistakes comes at a time when Truss is facing criticism for her economic decisions that left the markets in panic and has shrugged off hints to demit office.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/liz-truss-says-i-am-not-a-quitter-as-calls-for-her-resignation-grow-in-uk-526823" hreflang="en">Liz Truss says 'I am not a quitter' as calls for her resignation grow in UK</a> 
 
Braverman’s departure would likely threaten the stability of the Conservative government, which has been striving to put up a brave face following mini-budget U-turns and economic turmoil.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-inflation-accelerates-to-40-year-high-amid-rising-food-prices-526733">UK inflation accelerates to 40-year high amid rising food prices</a>

Last week, Braverman, the Indian-origin former minister, stoked a controversy when she said that a trade deal with India would increase migration to the UK when Indians already represented the largest group of visa overstayers.

“I have concerns about having an open borders migration policy with India because I don’t think that’s what people voted for with Brexit,” Braverman had told The Spectator weekly news magazine.

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UK’s home secretary Suella Braverman stepped down on Wednesday just six weeks after being appointed to the post, putting the Liz Truss government in further turmoil.

UK’s home secretary Suella Braverman stepped down on Wednesday just six weeks after being appointed to the post, putting the Liz Truss government in further turmoil. According to reports, Braverman offered to resign after admitting to accidentally leaking national security details. She is the second Cabinet minister to leave the Liz Truss government after finance minister Kwasi Kwarteng quit over the mini-budget fiasco last week. Soon after Braverman's resignation, Prime Minister Liz Truss's office named Grant Shapps, the former transport secretary and one of Truss’s most prominent critics, as the next home secretary. Truss's office said former transport minister Shapps had been appointed interior minister, replacing Suella Braverman who resigned earlier on Wednesday. Shapps told the Telegraph, "It's a great honour to be appointed as Home Secretary today. I'm looking forward to getting stuck into the role, providing the sort of security the British people need, regardless of what else is happening in Westminster. The Home Office is at the heart of that in so many ways, it's a great office of state, I'm obviously honoured to do that role." Earlier, Braverman took to Twitter to explain the reason behind her resignation. “Earlier today, I sent an official document from my personal email to a trusted parliamentary colleague as part of policy engagement, and with the aim of garnering support for government policy on migration.” “This constitutes a technical infringement of the rules. As you know, the document was a draft Written Ministerial Statement about migration, due for publication imminently. Much of it had already been briefed to MPs. Nevertheless, it is right for me to go.” “As soon as I realised my mistake, I rapidly reported this on official channels, and informed the Cabinet Secretary. As Home Secretary, I hold myself to the highest standards and my resignation is the right thing to do. The business of government relies upon people accepting responsibility for their mistakes.” “Pretending we haven't made mistakes, carrying on as if everyone can't see that we have made them, and hoping that things will magically come right is not serious politics. I have made a mistake; I accept responsibility; I resign.” My letter to the Prime Minister. pic.twitter.com/TaWO1PMOF2 — Suella Braverman MP (@SuellaBraverman) October 19, 2022 × Suella's statement on taking responsibility for her mistakes comes at a time when Truss is facing criticism for her economic decisions that left the markets in panic and has shrugged off hints to demit office. Also read | Liz Truss says 'I am not a quitter' as calls for her resignation grow in UK Braverman’s departure would likely threaten the stability of the Conservative government, which has been striving to put up a brave face following mini-budget U-turns and economic turmoil. Also read | UK inflation accelerates to 40-year high amid rising food prices Last week, Braverman, the Indian-origin former minister, stoked a controversy when she said that a trade deal with India would increase migration to the UK when Indians already represented the largest group of visa overstayers. “I have concerns about having an open borders migration policy with India because I don’t think that’s what people voted for with Brexit,” Braverman had told The Spectator weekly news magazine. WATCH WION LIVE HERE:

UK’s home secretary Suella Braverman steps down, Grant Shapps replaces her

UK Prime Minister Liz Truss took responsibility and apologised for the mistakes made in the last one month that is after she took over as the prime minister of the country.

UK: Some Conservative MPs call for PM Liz Truss to step down

British Prime Minister Liz Truss told the parliament on Wednesday that she is “a fighter not a quitter” as calls for her resignation continue to grow. Truss’ popularity has taken a serious hit after the announcement of unfunded tax cuts resulted in damages to the UK economy.

During the Prime Minister's Questions sessions at the parliament, several Labour Party lawmakers called for her resignation and opposition leader Keir Starmer questioned her on the measures.

“I am a fighter and not a quitter. I have acted in the national interest to make sure that we have economic stability,” Truss responded as the opposition shouted “resign” during her speech.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-inflation-accelerates-to-40-year-high-amid-rising-food-prices-526733">UK inflation accelerates to 40-year high amid rising food prices</a>

The economic measures announced by the former finance minister Kwasi Kwarteng in the mini budget were&nbsp;met with criticism from various financial institutions. The International Monetary Fund also opposed the move as the pound dropped to its lowest against the United States dollar.

In the aftermath of the criticism, Kwarteng was removed as the finance minister and his successor – Jeremy Hunt – announced a complete U-turn. Truss also recognised the impact that the tax cuts had on the British economy and admitted that the measures were a “mistake” by the government.

According to a recent poll conducted by YouGov, Truss’ approval ratings were just 10 per cent while 55 per cent of the people involved in the study wanted her to resign from her position.

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However, foreign secretary James Cleverly asked the public to continue supporting Truss.

“What you’ve got to do is recognize when they’ve happened and have humility to make changes when you see things didn’t go right,” he said according to a report on Reuters.

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British Prime Minister Liz Truss told the parliament on Wednesday that she is “a fighter not a quitter” as calls for her resignation continue to grow. Truss’ popularity has taken a serious hit after the announcement of unfunded tax cuts resulted in damages to the UK economy.

British Prime Minister Liz Truss told the parliament on Wednesday that she is “a fighter not a quitter” as calls for her resignation continue to grow. Truss’ popularity has taken a serious hit after the announcement of unfunded tax cuts resulted in damages to the UK economy. During the Prime Minister's Questions sessions at the parliament, several Labour Party lawmakers called for her resignation and opposition leader Keir Starmer questioned her on the measures. “I am a fighter and not a quitter. I have acted in the national interest to make sure that we have economic stability,” Truss responded as the opposition shouted “resign” during her speech. Also read | UK inflation accelerates to 40-year high amid rising food prices The economic measures announced by the former finance minister Kwasi Kwarteng in the mini budget were met with criticism from various financial institutions. The International Monetary Fund also opposed the move as the pound dropped to its lowest against the United States dollar. In the aftermath of the criticism, Kwarteng was removed as the finance minister and his successor – Jeremy Hunt – announced a complete U-turn. Truss also recognised the impact that the tax cuts had on the British economy and admitted that the measures were a “mistake” by the government. According to a recent poll conducted by YouGov, Truss’ approval ratings were just 10 per cent while 55 per cent of the people involved in the study wanted her to resign from her position. Also read | Donald Trump expected to testify in defamation lawsuit involving rape accuser However, foreign secretary James Cleverly asked the public to continue supporting Truss. “What you’ve got to do is recognize when they’ve happened and have humility to make changes when you see things didn’t go right,” he said according to a report on Reuters.

Liz Truss says 'I am not a quitter' as clamour for her resignation mounts in UK

UK's Prime Minister Liz Truss answered questions during the first session of PMQs after embarrassing tax U-turns.

UK PM Liz Truss faces questions in parliament after embarrassing tax U-turns

Liz Truss is UK's Prime Minister but for how long? Truss is 'sorry' for market turmoil but will public forgive her?

UK PM Liz Truss apologizes for market turmoil, but will public forgive her?

UK: PM Liz Truss says 'sorry for mistakes', battles to stay in power

WION Dispatch: UK's troubled Prime Minister Liz Truss vows to stay on

Liz Truss is losing the confidence of her MPs. After just having become Prime Minister, there are already calls for her resignation. What has led to her precarious position? Molly Gambhir tells you more.

WION Fineprint | What led to the troubles for Liz Truss?

UK Prime Minister Liz Truss is fighting for her political survival, with Conservative MPs threatening to oust her and even allies warning she has just days to turn around her premiership.

UK Prime Minister Liz Truss fights for her political survival

UK Prime Minister Liz Truss on Monday (October 17) apologised in no uncertain terms for her economic reforms that triggered turmoil in UK. However, she vowed to remain prime minister in spite of humiliating climbdowns which have seen her struggling for political survival.

"I do want to accept responsibility and say sorry for the mistakes that have been made... we went too far and too fast," she told the BBC.&nbsp;

However, she said that she was "completely committed to delivering for this country" despite questions over who was now in control of government policy. 
Her government on Monday axed almost all of its debt-fuelled tax cuts unveiled last month to avert fresh market chaos.

The shock move by new finance minister Jeremy Hunt who succeeded sacked Kwasi Kwarteng, has left Truss in precarious position politically and voices from Truss' own Conservative Party said that Hunt was a "de facto prime minister"

Hunt estimated the tax changes would raise about £32 billion ($36 billion) per year, after economists estimated the government faced a £60-billion black hole. He also warned of tough spending cuts.

"The prime minister and I agreed yesterday to reverse almost all the tax measures announced in the growth plan three weeks ago," Hunt told parliament, flanked by a grim-faced Truss.

He also announced the formation of an economic advisory council, featuring four experts outside of government.&nbsp;

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Truss told the BBC that she still believed in a "high-growth, low-tax economy", but that economic stability was "my priority as prime minister".&nbsp;

Hunt scrapped plans to axe the lowest rate of income tax, and curbed the government's flagship energy price freeze -- pulling the plug in April instead of late 2024.

After April, his department will "review" its energy support package, he said.

A proposed reduction in shareholder dividend tax was also binned, along with planned tax-free shopping for tourists and a freeze on alcohol duty.

The announcement comes as Truss's governing Conservative party tanks in the opinion polls.

(With inputs from agencies)

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&nbsp;

UK Prime Minister Liz Truss on Monday (October 17) apologised in no uncertain terms for her economic reforms that triggered turmoil in UK. However, she vowed to remain prime minister in spite of humiliating climbdowns which have seen her struggling for political survival.

UK Prime Minister Liz Truss on Monday (October 17) apologised in no uncertain terms for her economic reforms that triggered turmoil in UK. However, she vowed to remain prime minister in spite of humiliating climbdowns which have seen her struggling for political survival. "I do want to accept responsibility and say sorry for the mistakes that have been made... we went too far and too fast," she told the BBC. However, she said that she was "completely committed to delivering for this country" despite questions over who was now in control of government policy. Her government on Monday axed almost all of its debt-fuelled tax cuts unveiled last month to avert fresh market chaos. The shock move by new finance minister Jeremy Hunt who succeeded sacked Kwasi Kwarteng, has left Truss in precarious position politically and voices from Truss' own Conservative Party said that Hunt was a "de facto prime minister" Hunt estimated the tax changes would raise about £32 billion ($36 billion) per year, after economists estimated the government faced a £60-billion black hole. He also warned of tough spending cuts. "The prime minister and I agreed yesterday to reverse almost all the tax measures announced in the growth plan three weeks ago," Hunt told parliament, flanked by a grim-faced Truss. He also announced the formation of an economic advisory council, featuring four experts outside of government. Also Read | UK PM's office 'concerned' over attack on Hong Kong pro-democracy protester Watch this report: × Truss told the BBC that she still believed in a "high-growth, low-tax economy", but that economic stability was "my priority as prime minister". Hunt scrapped plans to axe the lowest rate of income tax, and curbed the government's flagship energy price freeze -- pulling the plug in April instead of late 2024. After April, his department will "review" its energy support package, he said. A proposed reduction in shareholder dividend tax was also binned, along with planned tax-free shopping for tourists and a freeze on alcohol duty. The announcement comes as Truss's governing Conservative party tanks in the opinion polls. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

'Too far and too fast': UK PM Liz Truss says 'sorry' for her 'mistakes' 

A new poll by YouGov shows that one out of every 10 British people does not view newly elected prime minister Liz Truss in a positive light and around 55 per cent said that they would want Truss to resign from her position. Only 38 per cent of the people interviewed wanted Truss to continue as PM.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/rare-protests-featuring-slogans-against-xi-jinping-spread-across-china-526426" hreflang="en">Rare protests featuring slogans against Xi Jinping spread across China</a>

It has been a rocky start to the tenure for Truss who defeated Rishi Sunak in the leadership race to succeed Boris Johnson. However, the unfunded tax cuts announced in the mini-budget by former finance minister Kwasi Kwarteng attracted criticism from all corners including various institutions.&nbsp;

In the aftermath of the announcements, the pound dropped to its lowest against the United States dollar and although new finance minister Jeremy Hunt reversed most of the economic measures after his appointment, it looks like the damage to the image of Truss and the Tory Party is already done.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/nord-stream-1-first-images-of-ruptured-gas-pipeline-show-extent-of-damage-526402">Nord Stream 1: First images of ruptured gas pipeline show extent of damage</a>

The survey, which included a set of 1724 adults in the United Kingdom, also showed that just 18 per cent were happy with the Tories’ performance in office. The data was similar to a&nbsp;Portland Communications poll that showed that the Labour Party is currently enjoying a 36-point lead over the Tories.&nbsp;

When it comes to the choice regarding Truss’ potential successors, Rishi Sunak leads the line with 55 per cent of people favouring the former finance minister. Former PM Boris Johnson enjoyed just 32 per cent support but his popularity remained higher than Truss with Ben Wallace being a distant third.&nbsp;

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A new poll by YouGov shows that one out of every 10 British people does not view newly elected prime minister Liz Truss in a positive light and around 55 per cent said that they would want Truss to resign from her position.

A new poll by YouGov shows that one out of every 10 British people does not view newly elected prime minister Liz Truss in a positive light and around 55 per cent said that they would want Truss to resign from her position. Only 38 per cent of the people interviewed wanted Truss to continue as PM. Also read | Rare protests featuring slogans against Xi Jinping spread across China It has been a rocky start to the tenure for Truss who defeated Rishi Sunak in the leadership race to succeed Boris Johnson. However, the unfunded tax cuts announced in the mini-budget by former finance minister Kwasi Kwarteng attracted criticism from all corners including various institutions. In the aftermath of the announcements, the pound dropped to its lowest against the United States dollar and although new finance minister Jeremy Hunt reversed most of the economic measures after his appointment, it looks like the damage to the image of Truss and the Tory Party is already done. Also read | Nord Stream 1: First images of ruptured gas pipeline show extent of damage The survey, which included a set of 1724 adults in the United Kingdom, also showed that just 18 per cent were happy with the Tories’ performance in office. The data was similar to a Portland Communications poll that showed that the Labour Party is currently enjoying a 36-point lead over the Tories. When it comes to the choice regarding Truss’ potential successors, Rishi Sunak leads the line with 55 per cent of people favouring the former finance minister. Former PM Boris Johnson enjoyed just 32 per cent support but his popularity remained higher than Truss with Ben Wallace being a distant third.

Liz Truss approval rating at record low 10 per cent in UK, claims new poll

Liz Truss apologises for economic 'mistakes'

On September 6, Queen Elizabeth II appointed Liz Truss as the new Prime Minister of the UK and it's been just over a month that Truss could be the shortest serving UK Prime Minister. Some even doubt if she can last until Christmas. She's amidst a serious backlash from the tory MPs.

UK: Liz Truss faces backlash from conservative MPs; Tory MPs plan to rescue party

Liz Truss could lose her place as the UK's Prime Minister. Her chance of staying on look bleak. So who could become her successor?

WION Fineprint | Who are the contenders to replace Truss as the UK PM?

Less than 40 days after taking office, British Prime Minister Liz Truss sacked her finance minister Kwasi Kwarteng and dismissed&nbsp;some of her contentious economic reforms in an effort to stay in power.

An embittered Truss admitted on Friday that her government's plans for unfunded tax cuts had progressed "further and faster" than investors had anticipated, despite the turbulence in the financial markets.

Here is everything that has happened since Truss became the United Kingdom’s prime minister:

Truss becomes PM

Former foreign secretary <a href="https://www.wionews.com/world/liz-truss-declares-she-will-increase-corporation-tax-just-hours-after-sacking-her-finance-minister-525494">Liz Truss</a> was elected leader of the ruling Conservative Party on September 5 at a time when the UK is experiencing a cost of living crisis, industrial unrest, and a recession.

Truss, who had long been considered the favourite to succeed Boris Johnson, was elected as the fourth prime minister of the Conservative Party since the 2015 election.

Truss, 47, pledged to move swiftly to address the UK's cost-of-living crisis, announcing that she would develop a strategy to deal with growing energy costs and ensure future fuel supply within a week.

Truss made it clear throughout her run for the presidency that she would defy economic convention by repealing tax increases and eliminating other levies that some analysts said would contribute to higher inflation.

Truss appoints cabinet

Truss appointed a new cabinet on September 7 at the formal request of Queen Elizabeth II, just hours after taking office.

15 new people were appointed on key government roles as a result of the substantial reorganisation, while 16 members of the old cabinet continued to serve in the new one.

As chancellor of the exchequer, Kwasi Kwarteng was one of the most senior members. He took over from Nadhim Zahawi, who was hired in July.

Prior to becoming the first Black Conservative Party cabinet minister in January 2021, Kwarteng held the position of business secretary.

UK's Queen Elizabeth II dies

The monarch, 96, passed away on 8 September. The queen's funeral was held on19&nbsp;September after a 10-day period of national mourning.

Kwarteng introduces mini-budget

The British government introduced a new mini-budget on September 23 in the parliament with the goal of reducing household taxes and energy costs while promoting economic growth.

Kwarteng's comprehensive new budget would entail reductions to national insurance, stamp duty, and the top tax rate, marking the largest tax decrease budget since 1972.

According to Kwarteng, the budget would address three important issues: the assurance of the energy price, equal assistance for all businesses, and a financing plan for the energy markets.

A proposal was made to lower the highest rate from 45 to 40 per cent and lower the lowest rate from 20 to 19 per cent.

Chaos in UK's financial markets

The <a href="https://www.wionews.com/world/uks-royal-mail-seeks-to-slash-10000-jobs-attributes-losses-to-industrial-action-525400">UK's</a> recession-threatened economy was intended to be helped by Kwarteng's tax cuts and energy price freeze, but merchants warned of soaring debt to pay for the incentives, which appeared to have the opposite effect.

Following the budget, the market was rocked by the massive unfunded tax cuts, which caused UK government bond yields to skyrocket and caused the pound to drop to a record low of $1.0350 on September 26.&nbsp;

Bank of England intervenes

The International Monetary Fund (IMF) announced on September 27 that it was "closely monitoring" developments and encouraged the London administration to reverse course in an extremely unprecedented intervention.

After the IMF criticised the UK budget, claiming it "would likely raise inequality" and worsen inflation, the Bank of England (BoE) intervened the next day to restore market confidence in the UK.

The BoE declared that it was temporarily purchasing long-term UK government bonds worth 65 billion pounds ($73 billion) "to restore orderly market conditions."

Truss supports economic plan

On September 29, Truss defended her economic strategy and dismissed the disapproval of the financial markets, asserting that she is prepared to make "tough decisions" in order to stimulate economic growth.

Truss stated that the UK was experiencing "very, very challenging economic conditions" in her first public remarks following the commotion caused by the mini-budget.

However, she claimed that Russia's all-out invasion of Ukraine was the cause of the difficulties, which were widespread.

Truss pulls the plug on the&nbsp; economic plan; sacks Kwarteng

The government made a humiliating U-turn and abandoned its ambitions to lower the highest income tax rate in the nation.

Truss was still under pressure to abandon more of the disastrous mini-budget, so on October&nbsp; 14, she replaced Kwarteng as chancellor with Jeremy Hunt and scrapped the company tax cut proposal, abandoning a crucial element of the economic strategy that had caused market chaos.

Also read |&nbsp;<a href="https://www.wionews.com/sports/chijindu-ujah-will-be-considered-for-selection-after-doping-ban-says-uk-athletics-director-525387">Chijindu Ujah will be considered for selection after doping ban, says UK Athletics director</a>

(With inputs from agencies)

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Less than 40 days after taking office, British Prime Minister Liz Truss sacked her finance minister Kwasi Kwarteng and dismissed some of her contentious economic reforms in an effort to stay in power.

Less than 40 days after taking office, British Prime Minister Liz Truss sacked her finance minister Kwasi Kwarteng and dismissed some of her contentious economic reforms in an effort to stay in power. An embittered Truss admitted on Friday that her government's plans for unfunded tax cuts had progressed "further and faster" than investors had anticipated, despite the turbulence in the financial markets. Here is everything that has happened since Truss became the United Kingdom’s prime minister: Truss becomes PM Former foreign secretary Liz Truss was elected leader of the ruling Conservative Party on September 5 at a time when the UK is experiencing a cost of living crisis, industrial unrest, and a recession. Truss, who had long been considered the favourite to succeed Boris Johnson, was elected as the fourth prime minister of the Conservative Party since the 2015 election. Truss, 47, pledged to move swiftly to address the UK's cost-of-living crisis, announcing that she would develop a strategy to deal with growing energy costs and ensure future fuel supply within a week. Truss made it clear throughout her run for the presidency that she would defy economic convention by repealing tax increases and eliminating other levies that some analysts said would contribute to higher inflation. Truss appoints cabinet Truss appointed a new cabinet on September 7 at the formal request of Queen Elizabeth II, just hours after taking office. 15 new people were appointed on key government roles as a result of the substantial reorganisation, while 16 members of the old cabinet continued to serve in the new one. As chancellor of the exchequer, Kwasi Kwarteng was one of the most senior members. He took over from Nadhim Zahawi, who was hired in July. Prior to becoming the first Black Conservative Party cabinet minister in January 2021, Kwarteng held the position of business secretary. UK's Queen Elizabeth II dies The monarch, 96, passed away on 8 September. The queen's funeral was held on19 September after a 10-day period of national mourning. Kwarteng introduces mini-budget The British government introduced a new mini-budget on September 23 in the parliament with the goal of reducing household taxes and energy costs while promoting economic growth. Kwarteng's comprehensive new budget would entail reductions to national insurance, stamp duty, and the top tax rate, marking the largest tax decrease budget since 1972. According to Kwarteng, the budget would address three important issues: the assurance of the energy price, equal assistance for all businesses, and a financing plan for the energy markets. A proposal was made to lower the highest rate from 45 to 40 per cent and lower the lowest rate from 20 to 19 per cent. Chaos in UK's financial markets The UK's recession-threatened economy was intended to be helped by Kwarteng's tax cuts and energy price freeze, but merchants warned of soaring debt to pay for the incentives, which appeared to have the opposite effect. Following the budget, the market was rocked by the massive unfunded tax cuts, which caused UK government bond yields to skyrocket and caused the pound to drop to a record low of $1.0350 on September 26. Bank of England intervenes The International Monetary Fund (IMF) announced on September 27 that it was "closely monitoring" developments and encouraged the London administration to reverse course in an extremely unprecedented intervention. After the IMF criticised the UK budget, claiming it "would likely raise inequality" and worsen inflation, the Bank of England (BoE) intervened the next day to restore market confidence in the UK. The BoE declared that it was temporarily purchasing long-term UK government bonds worth 65 billion pounds ($73 billion) "to restore orderly market conditions." Truss supports economic plan On September 29, Truss defended her economic strategy and dismissed the disapproval of the financial markets, asserting that she is prepared to make "tough decisions" in order to stimulate economic growth. Truss stated that the UK was experiencing "very, very challenging economic conditions" in her first public remarks following the commotion caused by the mini-budget. However, she claimed that Russia's all-out invasion of Ukraine was the cause of the difficulties, which were widespread. Truss pulls the plug on the economic plan; sacks Kwarteng The government made a humiliating U-turn and abandoned its ambitions to lower the highest income tax rate in the nation. Truss was still under pressure to abandon more of the disastrous mini-budget, so on October 14, she replaced Kwarteng as chancellor with Jeremy Hunt and scrapped the company tax cut proposal, abandoning a crucial element of the economic strategy that had caused market chaos. Also read | Chijindu Ujah will be considered for selection after doping ban, says UK Athletics director (With inputs from agencies) WATCH WION LIVE HERE:

Timeline: Liz Truss's U-turn to stay in power; sacks finance minister Kwasi Kwarteng

The UK's newly appointed Chancellor of the Exchequer Jeremy Hunt admitted that 'tax cuts were a mistake'. He also signaled an increase in taxes in the coming days. The Chancellor's statement signals another policy U-turn by Prime Minister Liz Truss.

UK: Government brings forward fiscal measures after budget turmoil

The spokesperson for the office of British Prime Minister Liz Truss said on Monday that the alleged assault on a protestor inside the Chinese consulate in Manchester was “concerning”. &nbsp;

In videos that were posted on social media, a protestor was seen getting beaten up by a group of men on the grounds of the consulate. The incident reportedly took place during a Hong Kong pro-democracy protest against Chinese President Xi Jinping, and it left the protestor severely injured. &nbsp;

“These reports are obviously deeply concerning,” the spokesperson told reporters according to Reuters.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-finance-minister-jeremy-hunt-scraps-almost-all-government-tax-cut-plans-526127" hreflang="en">UK Finance Minister Jeremy Hunt scraps almost all government tax cut plans</a>

“I understand Greater Manchester Police responded immediately to the incident. I am conscious that their inquiries are ongoing so it would be inappropriate for me to comment beyond that.”&nbsp;

The protests took place as the 20th Congress of the Chinese Communist Party started&nbsp;in Beijing and things got out of control when the protestors were attacked outside the consulate. &nbsp;

The injured protestor, who identified himself as Bob, told BBC that he was attacked by people who came out of the Chinese consulate and started destroying the posters held by the protestors.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/china-faces-a-shotfall-of-1-trillion-to-fund-infrastructure-growth-projects-526152">China faces a shotfall of $1 trillion to fund infrastructure &amp; growth projects</a>

“As we tried to stop them, they dragged me inside, and they beat me up,” he said.&nbsp;

The Greater Manchester Police earlier said that an investigation was launched into the attacks and the force was deployed near the consulate to prevent any further escalation of the situation.&nbsp;

The consulate spokesperson did not respond to the assault allegations but said that the situation got worse as the protestors were carrying an “insulting” portrait of Jinping.&nbsp;

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The spokesperson for the office of British Prime Minister Liz Truss said on Monday that the alleged assault on a protestor inside the Chinese consulate in Manchester was “concerning”.

The spokesperson for the office of British Prime Minister Liz Truss said on Monday that the alleged assault on a protestor inside the Chinese consulate in Manchester was “concerning”. In videos that were posted on social media, a protestor was seen getting beaten up by a group of men on the grounds of the consulate. The incident reportedly took place during a Hong Kong pro-democracy protest against Chinese President Xi Jinping, and it left the protestor severely injured. “These reports are obviously deeply concerning,” the spokesperson told reporters according to Reuters. Also read | UK Finance Minister Jeremy Hunt scraps almost all government tax cut plans “I understand Greater Manchester Police responded immediately to the incident. I am conscious that their inquiries are ongoing so it would be inappropriate for me to comment beyond that.” The protests took place as the 20th Congress of the Chinese Communist Party started in Beijing and things got out of control when the protestors were attacked outside the consulate. The injured protestor, who identified himself as Bob, told BBC that he was attacked by people who came out of the Chinese consulate and started destroying the posters held by the protestors. Also read | China faces a shotfall of $1 trillion to fund infrastructure & growth projects “As we tried to stop them, they dragged me inside, and they beat me up,” he said. The Greater Manchester Police earlier said that an investigation was launched into the attacks and the force was deployed near the consulate to prevent any further escalation of the situation. The consulate spokesperson did not respond to the assault allegations but said that the situation got worse as the protestors were carrying an “insulting” portrait of Jinping.

UK PM's office 'concerned' over attack on Hong Kong pro-democracy protester

Experts at Goldman Sachs warned of a deeper and “more significant recession” in the UK, following the sacking of Kwasi <a name="_Hlk116857692">Kwarteng</a> as chancellor and Prime Minister Liz Truss’ reversal of corporate tax decision.

In its report, the investment bank downgraded UK’s economic outlook, saying, “Folding in weaker growth momentum, significantly tighter financial conditions, and the higher corporation tax from next April, we downgrade our UK growth outlook further and now expect a more significant recession."

The firm reduced UK’s 2023 economic output forecast to a 1 per cent contraction from an earlier forecast for a 0.4 per cent output drop, with core inflation at 3.1 per cent at the end of 2023, down from 3.3 per cent previously, Bloomberg reported citing the report.

The UK prime minister on Friday announced to raise the corporation tax rate to 25 per cent, making a U-turn on a pledge to freeze it at 19 per cent.

Truss has been under fire ever since their newly formed government announced a mini-budget in a bid to tide over the cost-of-living crisis and provide cushion to people, who have been battered by food inflation and rising gas prices.

The controversial mini-budget— which proposed unfunded tax cuts, huge government borrowing and let energy companies off from a windfall tax—announced by Kwarteng sent financial markets into meltdown, due to which the pound sank to its lowest level against the dollar in decades.

It was only after the Bank of England intervened that the market somewhat settled.

However, this led to the sacking of Kwarteng and renewed rumours of Tory MPs planning to oust Truss.

On Friday, Truss defended her economic plan, but declined to apologise to her party or the public over the turmoil.

“We recognize because of current market issues we have to deliver the mission in a different way. And that’s what we are absolutely committed to do,” she said.

(With inputs from agencies)

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Experts at Goldman Sachs warned of a deeper and “more significant recession” in the UK, following the sacking of Kwasi Kwarteng as chancellor and Prime Minister Liz Truss’ reversal of corporate tax decision.

Experts at Goldman Sachs warned of a deeper and “more significant recession” in the UK, following the sacking of Kwasi Kwarteng as chancellor and Prime Minister Liz Truss’ reversal of corporate tax decision. In its report, the investment bank downgraded UK’s economic outlook, saying, “Folding in weaker growth momentum, significantly tighter financial conditions, and the higher corporation tax from next April, we downgrade our UK growth outlook further and now expect a more significant recession." The firm reduced UK’s 2023 economic output forecast to a 1 per cent contraction from an earlier forecast for a 0.4 per cent output drop, with core inflation at 3.1 per cent at the end of 2023, down from 3.3 per cent previously, Bloomberg reported citing the report. The UK prime minister on Friday announced to raise the corporation tax rate to 25 per cent, making a U-turn on a pledge to freeze it at 19 per cent. Truss has been under fire ever since their newly formed government announced a mini-budget in a bid to tide over the cost-of-living crisis and provide cushion to people, who have been battered by food inflation and rising gas prices. The controversial mini-budget— which proposed unfunded tax cuts, huge government borrowing and let energy companies off from a windfall tax—announced by Kwarteng sent financial markets into meltdown, due to which the pound sank to its lowest level against the dollar in decades. It was only after the Bank of England intervened that the market somewhat settled. However, this led to the sacking of Kwarteng and renewed rumours of Tory MPs planning to oust Truss. On Friday, Truss defended her economic plan, but declined to apologise to her party or the public over the turmoil. “We recognize because of current market issues we have to deliver the mission in a different way. And that’s what we are absolutely committed to do,” she said. (With inputs from agencies) WATCH WION LIVE HERE:

Goldman Sachs forecasts ‘significant recession’ in UK after Liz Truss’ U-turns on tax cut

With just a month in office, United Kingdom PM Liz Truss might be on her way out of 10 Downing Street. Rumours are floating that the senior Tory leaders&nbsp;are reportedly planning to replace her with Rishi Sunak and Penny Mordaunt.&nbsp;

<h2>Can Liz Truss truly be replaced this soon?</h2>

Yes. One way is that Truss herself resigns. Another is that senior ministers force her out.&nbsp;

As per Reuters, for this to happen, her cabinet ministers could start resigning, forcing her hand or a vote of confidence among the conservatives can also do the job. However as per the rules, given the very short time she has been in office, this cannot happen right now.

The vote cannot happen till September 2023.

A vote by the opposition can also do the job but this will be subject to a majority vote.

Watch |&nbsp;UK: Liz Truss faces backlash from conservative MPs; Tory MPs plan to rescue party

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<h2>Who can replace Truss?</h2>

While reports indicate that Penny Mordaunt and Rishi Sunak are the candidates that have backing, Guardian puts the number at five. In addition to Sunak and Mordaunt, Boris Johnson, Michael Gove and defense secretary Ben Wallace reportedly also stand a chance at being 10 Downing Street's next resident. Sky News adds to the list the newly appointed Finance Minister Jeremy Hunt.

<h2>Rishi Sunak</h2>

The obvious choice. Sunak and Truss had a neck-to-neck competition for the Tory leadership just about a month back.&nbsp;

He has the added advantage of being proven right. During campaigning Sunak repeatedly warned that cutting too many taxes too soon would be dangerous for the economy. This was portrayed by Truss and her followers as "the over-cautious voice of a discredited Treasury orthodoxy". But now, Sunak's concerns have come true, which makes him appear like the safer choice for a leader.

Also read |&nbsp;<a href="https://www.wionews.com/world/senior-tory-leaders-making-moves-to-oust-truss-and-replace-her-with-unity-pairing-of-sunak-mordaunt-525855">Senior Tory leaders making moves to oust Truss, replace her with unity pairing of Sunak-Mordaunt</a>

<h2>Penny Mordaunt</h2>

Conservatives have reportedly been discussing replacing Truss with the joint forces of Sunak and Mordaunt.

Another of Truss's competitors in the leadership contest, Mordaunt was touted as the number two choice after Sunak, till Truss took over in the fifth and final round.

<h2>Boris Johnson</h2>

This is a name that not many would expect. While in office just a month or so back, Johnson faced a flurry of scandals, but he still has his share of supporters and a "resurrection" just might happen. As per a Guardian analysis, He had a core of supporters who felt Johnson's departure over the scandals was unfair and their numbers are sure to have grown "as Tory MPs and members grasp for anything that could rescue the party from electoral oblivion".

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-politics-live-updates-kwasi-kwarteng-sacked-as-uk-treasury-secy-525437">UK Politics | As it happened: Liz Truss sacks FM Kwasi Kwarteng in a desperate bid to placate chaos</a>

<h2>Michael Gove</h2>

He served in a key position in Truss's predecessor Boris Johnson's cabinet before being sacked.&nbsp;

The former Secretary of State for Levelling Up, Housing and Communities recently at a Conservative conference even voiced "suggestions" for Truss.&nbsp;

<h2>Ben Wallace</h2>

The defence secretary, much like Mordaunt is "getting on quietly with the day job as the chaos rages around him, with the same arguable increase in reputation, even by default," writes Peter Walker for Guardian.

Wallace was seen as a successor to Johnson and is a favourite among Tory members.

<h2>Jeremy Hunt</h2>

As Sky News puts it upon being called in to replace Kwasi Kwarteng, Hunt is currently widely seen as the most powerful figure in the government.

However, Hunt himself doesn't think Truss being replaced now is a good idea.&nbsp;

"The worst thing for that would be more political instability at the top - another protracted leadership campaign," he told BBC during an interview on Sunday. 
&nbsp; 
"The prime minister is in charge," he said.

(With inputs from agencies)

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With just a month in office, United Kingdom PM Liz Truss might be on her way out of 10 Downing Street. Rumours are floating that the senior Tory leaders are reportedly planning to replace her with Rishi Sunak and Penny Mordaunt.

With just a month in office, United Kingdom PM Liz Truss might be on her way out of 10 Downing Street. Rumours are floating that the senior Tory leaders are reportedly planning to replace her with Rishi Sunak and Penny Mordaunt. Can Liz Truss truly be replaced this soon? Yes. One way is that Truss herself resigns. Another is that senior ministers force her out. As per Reuters, for this to happen, her cabinet ministers could start resigning, forcing her hand or a vote of confidence among the conservatives can also do the job. However as per the rules, given the very short time she has been in office, this cannot happen right now. The vote cannot happen till September 2023. A vote by the opposition can also do the job but this will be subject to a majority vote. Watch | UK: Liz Truss faces backlash from conservative MPs; Tory MPs plan to rescue party Who can replace Truss? While reports indicate that Penny Mordaunt and Rishi Sunak are the candidates that have backing, Guardian puts the number at five. In addition to Sunak and Mordaunt, Boris Johnson, Michael Gove and defense secretary Ben Wallace reportedly also stand a chance at being 10 Downing Street's next resident. Sky News adds to the list the newly appointed Finance Minister Jeremy Hunt. Rishi Sunak The obvious choice. Sunak and Truss had a neck-to-neck competition for the Tory leadership just about a month back. He has the added advantage of being proven right. During campaigning Sunak repeatedly warned that cutting too many taxes too soon would be dangerous for the economy. This was portrayed by Truss and her followers as "the over-cautious voice of a discredited Treasury orthodoxy". But now, Sunak's concerns have come true, which makes him appear like the safer choice for a leader. Also read | Senior Tory leaders making moves to oust Truss, replace her with unity pairing of Sunak-Mordaunt Penny Mordaunt Conservatives have reportedly been discussing replacing Truss with the joint forces of Sunak and Mordaunt. Another of Truss's competitors in the leadership contest, Mordaunt was touted as the number two choice after Sunak, till Truss took over in the fifth and final round. Boris Johnson This is a name that not many would expect. While in office just a month or so back, Johnson faced a flurry of scandals, but he still has his share of supporters and a "resurrection" just might happen. As per a Guardian analysis, He had a core of supporters who felt Johnson's departure over the scandals was unfair and their numbers are sure to have grown "as Tory MPs and members grasp for anything that could rescue the party from electoral oblivion". Also read | UK Politics | As it happened: Liz Truss sacks FM Kwasi Kwarteng in a desperate bid to placate chaos Michael Gove He served in a key position in Truss's predecessor Boris Johnson's cabinet before being sacked. The former Secretary of State for Levelling Up, Housing and Communities recently at a Conservative conference even voiced "suggestions" for Truss. Ben Wallace The defence secretary, much like Mordaunt is "getting on quietly with the day job as the chaos rages around him, with the same arguable increase in reputation, even by default," writes Peter Walker for Guardian. Wallace was seen as a successor to Johnson and is a favourite among Tory members. Jeremy Hunt As Sky News puts it upon being called in to replace Kwasi Kwarteng, Hunt is currently widely seen as the most powerful figure in the government. However, Hunt himself doesn't think Truss being replaced now is a good idea. "The worst thing for that would be more political instability at the top - another protracted leadership campaign," he told BBC during an interview on Sunday. "The prime minister is in charge," he said. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Reports suggest Tories are looking to replace Liz Truss. Who could be the next UK PM?

'Tax cuts were a mistake,' says UK's new Chancellor Jeremy Hunt

Jeremy Hunt, the newly appointed finance minister of Britain has said that he doesn't want to succeed Prime Minister Liz Truss if she is ousted by the Conservative Party, Bloomberg reported.&nbsp;

Concerns for the prime minister have mounted some senior Conservatives are reportedly planning to swiftly remove Truss as the leader and replace her with the pair of Rishi Sunak and Penny Mordaunt.&nbsp;

During an interview with BBC, that broadcast on Sunday, Hunt was asked who was running the government. He replied, "The prime minister is in charge."&nbsp;

He was also asked about the growing calls to replace Truss, Hunt replied that constituents wanted stability. He said, "The worst thing for that would be more political instability at the top - another protracted leadership campaign."&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/senior-tory-leaders-making-moves-to-oust-truss-and-replace-her-with-unity-pairing-of-sunak-mordaunt-525855">Senior Tory leaders making moves to oust Truss, replace her with unity pairing of Sunak-Mordaunt</a>&nbsp;

Watch this report:&nbsp;

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When he was addressing the media after he was appointed chancellor of the exchequer, Hunt warned of tax hikes to come. He admitted to "mistakes" made by his short-lived predecessor Kwasi Kwarteng, which led to political turmoil amid the cost of living crisis.&nbsp;

"We will have some very difficult decisions ahead," Hunt told Sky News. he warned that "all government departments" face spending restraint. He added, "And some taxes will not be cut as quickly as people want. Some taxes will go up."&nbsp;

On Friday, Truss sacked Kwarteng and backed off further on the proposed tax cuts, but she is now under pressure from senior Conservative MPs outraged at the party's decline in polls since she took over for Boris Johnson on September 6.&nbsp;

(With inputs from agencies)&nbsp;

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Jeremy Hunt, the newly appointed finance minister of Britain has said that he doesn't want to succeed Prime Minister Liz Truss if she is ousted by the Conservative Party, Bloomberg reported.

Jeremy Hunt, the newly appointed finance minister of Britain has said that he doesn't want to succeed Prime Minister Liz Truss if she is ousted by the Conservative Party, Bloomberg reported. Concerns for the prime minister have mounted some senior Conservatives are reportedly planning to swiftly remove Truss as the leader and replace her with the pair of Rishi Sunak and Penny Mordaunt. During an interview with BBC, that broadcast on Sunday, Hunt was asked who was running the government. He replied, "The prime minister is in charge." He was also asked about the growing calls to replace Truss, Hunt replied that constituents wanted stability. He said, "The worst thing for that would be more political instability at the top - another protracted leadership campaign." ALSO READ | Senior Tory leaders making moves to oust Truss, replace her with unity pairing of Sunak-Mordaunt Watch this report: × When he was addressing the media after he was appointed chancellor of the exchequer, Hunt warned of tax hikes to come. He admitted to "mistakes" made by his short-lived predecessor Kwasi Kwarteng, which led to political turmoil amid the cost of living crisis. "We will have some very difficult decisions ahead," Hunt told Sky News. he warned that "all government departments" face spending restraint. He added, "And some taxes will not be cut as quickly as people want. Some taxes will go up." On Friday, Truss sacked Kwarteng and backed off further on the proposed tax cuts, but she is now under pressure from senior Conservative MPs outraged at the party's decline in polls since she took over for Boris Johnson on September 6. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

UK finance minister has no desire to succeed Truss, says more political instability would be 'worst thing'

US President Joe Biden has finally commented on the economic turmoil gripping the UK. He called the UK Prime Minister Liz Truss' original economic plan saying that it was a mistake.

Not concerned about dollar's strength but about rest of the world: Biden on Truss' economic plan

Senior Conservatives are hatching a plan to swiftly remove Truss as the leader and bring a unity pairing of Rishi Sunak and Penny Mordaunt, claimed a Guardian report.&nbsp;

Reportedly, a 'dinner of grown-ups' has&nbsp;been called by supporters of Rishi Sunak with invitations sent to 15-20 former ministers and senior Tory MPs to plan on how and when to remove Truss.

Sunak, during the election canvassing trail, had repeatedly called out Truss for her rather 'utopian' financial plans, citing them as untenable and not agreeing with the current economic climate.&nbsp;

"Firstly, I will never get taxes down in a way that just puts inflation up. Secondly, I will never make promises I can’t pay for. And thirdly, I will always be honest about the challenges we face," Sunak had said at the time.&nbsp;

<a href="https://www.wionews.com/videos/gravitas-can-liz-truss-stay-on-as-prime-minister-525529">WATCH |&nbsp;Gravitas: Can Liz Truss stay on as Prime Minister?</a>

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However, the Conservatives got swayed by the populist measure and voted in numbers for her. As predicted by Sunak, Truss' mini-budget started the domino effect and the situation quickly turned pear-shaped for her.&nbsp;

Consequently, Truss was forced to take a U-turn on most of her decisions and the latest straw came in the form of sacking chancellor Kwasi Kwarteng. Some other senior Tories, however, are hopeful that Truss will smell the coffee and walk&nbsp;out on her own.

"She [Truss] is in the departure lounge now, and she knows that. It is a case now of whether she takes part in the process and goes to some extent on her own terms, or whether she tries to resist and is forced out,” a senior former minister was quoted as saying by the publication.&nbsp;

“She has to find the courage to walk away from this, to do it in an orderly fashion – and be thanked for having done so.”

<a href="https://www.wionews.com/world/liz-truss-declares-she-will-increase-corporation-tax-just-hours-after-sacking-her-finance-minister-525494">Read more:&nbsp;After sacking her finance minister, UK PM Liz Truss declares she will hike corporation tax</a>

There's no denying the fact that Prime Minister Liz Truss and her cabinet are running on borrowed time after unloading a brain fade of an economic policy on Britons. However, another change in 10, Downing Street will dent the credibility of Conservatives who have already changed two PMs and have been trailing the Labour Party in surveys for quite some time.&nbsp;

(With inputs from agencies) 
 
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Senior Conservatives are hatching a plan to swiftly remove Truss as the leader and bring a unity pairing of Rishi Sunak and Penny Mordaunt, claimed a Guardian report.

Senior Conservatives are hatching a plan to swiftly remove Truss as the leader and bring a unity pairing of Rishi Sunak and Penny Mordaunt, claimed a Guardian report. Reportedly, a 'dinner of grown-ups' has been called by supporters of Rishi Sunak with invitations sent to 15-20 former ministers and senior Tory MPs to plan on how and when to remove Truss. Sunak, during the election canvassing trail, had repeatedly called out Truss for her rather 'utopian' financial plans, citing them as untenable and not agreeing with the current economic climate. "Firstly, I will never get taxes down in a way that just puts inflation up. Secondly, I will never make promises I can’t pay for. And thirdly, I will always be honest about the challenges we face," Sunak had said at the time. WATCH | Gravitas: Can Liz Truss stay on as Prime Minister? × However, the Conservatives got swayed by the populist measure and voted in numbers for her. As predicted by Sunak, Truss' mini-budget started the domino effect and the situation quickly turned pear-shaped for her. Consequently, Truss was forced to take a U-turn on most of her decisions and the latest straw came in the form of sacking chancellor Kwasi Kwarteng. Some other senior Tories, however, are hopeful that Truss will smell the coffee and walk out on her own. "She [Truss] is in the departure lounge now, and she knows that. It is a case now of whether she takes part in the process and goes to some extent on her own terms, or whether she tries to resist and is forced out,” a senior former minister was quoted as saying by the publication. “She has to find the courage to walk away from this, to do it in an orderly fashion – and be thanked for having done so.” Read more: After sacking her finance minister, UK PM Liz Truss declares she will hike corporation tax There's no denying the fact that Prime Minister Liz Truss and her cabinet are running on borrowed time after unloading a brain fade of an economic policy on Britons. However, another change in 10, Downing Street will dent the credibility of Conservatives who have already changed two PMs and have been trailing the Labour Party in surveys for quite some time. (With inputs from agencies) WATCH WION LIVE HERE:

Senior Tory leaders making moves to oust Truss, replace her with unity pairing of Sunak-Mordaunt

After Prime Minister Liz Truss' initial economic proposals precipitated a collapse in the bond market, Britain's new finance minister, Jeremy Hunt, promised to demonstrate to investors that he would restore the nation's public finances.

"No government can control the markets. No Chancellor should seek to do that," Hunt told BBC television in an interview broadcast on Sunday.

"There is one thing we can do and that's what I'm going to do, which is to show the markets, the world, indeed people watching at home, that we can properly account for every penny of our tax and spending plans."

Since September 23, when Hunt's predecessor as finance minister&nbsp;Kwasi Kwarteng&nbsp; promised a series of unfunded tax cuts, investors have sold a significant amount of British government bonds.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-pm-liz-truss-economic-plan-was-a-mistake-says-biden-525756">UK PM Liz Truss' economic plan was a 'mistake', says Joe Biden</a>

Truss, who gained the Conservative Party's leadership less than a month ago on the promise to cut taxes, sacked Kwarteng on Friday and abandoned a significant portion of the plan they had developed together.

<a href="https://www.wionews.com/videos/uk-who-is-jeremy-hunt-uks-new-chancellor-of-exchequer-525664">Hunt</a>, though, has stated that he will go farther, including tax rises and tighter controls on public expenditure.

Asked whether he thought financial markets would have confidence in his plans, Hunt told the BBC: "Well, I think, you know, for people trading the markets, actions speak louder than words."

On Monday morning, when trade in <a href="https://www.wionews.com/world/were-under-seige-180-hindu-groups-write-a-letter-to-truss-seek-action-for-leicester-attacks-525743">Britain</a>'s battered government bonds starts without the assistance of the Bank of England's emergency bond-buying programme, which concluded on Friday, a first test will take place.

(With inputs from agencies)

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After Prime Minister Liz Truss' initial economic proposals precipitated a collapse in the bond market, Britain's new finance minister, Jeremy Hunt, promised to demonstrate to investors that he would restore the nation's public finances.

After Prime Minister Liz Truss' initial economic proposals precipitated a collapse in the bond market, Britain's new finance minister, Jeremy Hunt, promised to demonstrate to investors that he would restore the nation's public finances. "No government can control the markets. No Chancellor should seek to do that," Hunt told BBC television in an interview broadcast on Sunday. "There is one thing we can do and that's what I'm going to do, which is to show the markets, the world, indeed people watching at home, that we can properly account for every penny of our tax and spending plans." Since September 23, when Hunt's predecessor as finance minister Kwasi Kwarteng promised a series of unfunded tax cuts, investors have sold a significant amount of British government bonds. Also read | UK PM Liz Truss' economic plan was a 'mistake', says Joe Biden Truss, who gained the Conservative Party's leadership less than a month ago on the promise to cut taxes, sacked Kwarteng on Friday and abandoned a significant portion of the plan they had developed together. Hunt, though, has stated that he will go farther, including tax rises and tighter controls on public expenditure. Asked whether he thought financial markets would have confidence in his plans, Hunt told the BBC: "Well, I think, you know, for people trading the markets, actions speak louder than words." On Monday morning, when trade in Britain's battered government bonds starts without the assistance of the Bank of England's emergency bond-buying programme, which concluded on Friday, a first test will take place. (With inputs from agencies) WATCH WION LIVE HERE:

UK: Newly appointed finance minister promises to restore the nation's public finances

US President Joe Biden on Saturday (October 15) said that UK Prime Minister Liz Truss' original economic plan was a 'mistake'. He was speaking with reporters in Oregon as he helped campaign for Tina Kotek, who is running for Governor of Oregon.&nbsp;

"I wasn't the only one that thought it was a mistake," he said. 
 
He also stated that the fiscal policies of other nations&nbsp;may hurt the US amid worldwide inflation.&nbsp;"So, the problem is the lack of economic growth and sound policy in other countries, not so much ours," Biden added.

Truss' original economic plan not only caused steep dive in the value of British Pound against dollar, but the political upheaval it triggered has caused Truss to lose her footing just weeks in the office. She fired her finance minister and it is widely being perceived that there is a danger of her being forced to step down. There have been dissenting voices from her own Conservative Party.

The White House has refrained from commenting on Truss' problems and when asked about the strength of the US&nbsp;Dollar, Biden said, "I'm not concerned about the strength of the dollar. I'm concerned about the rest of the world."

Earlier on Saturday, Britain's new finance minister Jeremy Hunt said some taxes would go up and tough spending decisions were needed, saying Prime Minister Liz Truss had made 'mistakes' as she battles to keep her job just over a month into her term.

During his interaction with reporters, Biden also spoke about the January 6 committee probe. The probe panel has voted to subpoena former US president Donald Trump in relation to Capitol Hill attack that took place on January 6, 2021.

"I think the testimony and the video are actually devastating and I've been going out of my way not to comment," Biden said.

Biden says he would not comment further on the Jan. 6 committee because he did not want to be perceived as influencing the attorney general, which he said he was not.

(With inputs from agencies)

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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&nbsp;

US President Joe Biden on Saturday (October 15) said that UK Prime Minister Liz Truss' original economic plan was a 'mistake'. He was speaking with reporters in Oregon as he helped campaign for Tina Kotek, who is running for Governor of Oregon.

US President Joe Biden on Saturday (October 15) said that UK Prime Minister Liz Truss' original economic plan was a 'mistake'. He was speaking with reporters in Oregon as he helped campaign for Tina Kotek, who is running for Governor of Oregon. "I wasn't the only one that thought it was a mistake," he said. He also stated that the fiscal policies of other nations may hurt the US amid worldwide inflation. "So, the problem is the lack of economic growth and sound policy in other countries, not so much ours," Biden added. Truss' original economic plan not only caused steep dive in the value of British Pound against dollar, but the political upheaval it triggered has caused Truss to lose her footing just weeks in the office. She fired her finance minister and it is widely being perceived that there is a danger of her being forced to step down. There have been dissenting voices from her own Conservative Party. The White House has refrained from commenting on Truss' problems and when asked about the strength of the US Dollar, Biden said, "I'm not concerned about the strength of the dollar. I'm concerned about the rest of the world." Earlier on Saturday, Britain's new finance minister Jeremy Hunt said some taxes would go up and tough spending decisions were needed, saying Prime Minister Liz Truss had made 'mistakes' as she battles to keep her job just over a month into her term. During his interaction with reporters, Biden also spoke about the January 6 committee probe. The probe panel has voted to subpoena former US president Donald Trump in relation to Capitol Hill attack that took place on January 6, 2021. "I think the testimony and the video are actually devastating and I've been going out of my way not to comment," Biden said. Biden says he would not comment further on the Jan. 6 committee because he did not want to be perceived as influencing the attorney general, which he said he was not. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

UK PM Liz Truss' economic plan was a 'mistake', says Joe Biden

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