May 28, 2023

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Lizz Truss is being pressured to resign as Prime Minister, including by members of the Conservative Party

Lizz Truss is being pressured to resign as Prime Minister, including by members of the Conservative Party, just six weeks after coming to Downing Street.

Truss and her former Finance Minister Kwasi Kwarteng announced a fiscal package, a so-called mini-budget, on September 23, according to CNBC, quoted by

The measures have sparked market turmoil, from a plunge in the pound, to panic at pension funds, and a rare public rebuke from the International Monetary Fund.

Piece by piece, the plans were tweaked and trashed, including scrapping plans to scrap the corporate tax hike, scrapping plans to scrap an income tax bracket and cutting the energy guarantee, designed to subsidize energy bills for consumers and businesses, from two years to just six months.

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The latest plans were announced on Monday by Jeremy Hunt, just three days after receiving the mandate as Minister of Finance. He is the fourth person to hold the post since July.

Truss sacked Hunt’s predecessor on Friday, and now MPs across the political spectrum are calling for her to succeed him.

Elected members of Truss’s Conservative Party are openly calling for him to resign, while up to 100 party members are believed to have sent letters of censure to the prime minister, according to the newspaper.

Angela Richardson, Tory MP for Guildford, told Times Radio that “is no longer sustainable” for Truss to remain Prime Minister, while Jamie Wallis, Tory MP for Bridgend, wrote to the Prime Minister telling him to resign.

I ask you to resign from the position of prime minister because I think you no longer have the confidence of the country or the parliamentary party. It is the right thing to do to ensure the stability, security and prosperity of the people to whom we owe everythingWallis’ letter said.

Opposition Labor Party leader Keir Starmer said on Twitter on Saturday: “The Tories no longer have a mandate from the British people“.

The Labor Party also called for Truss to face scrutiny from MPs after she answered just four questions from reporters at a press conference on Friday.

Liz Truss must at least answer [întrebărilor] from the parliamentarians who represent the families whose livelihoods it endangersStarmer said.

The survey conducted by Opinium Research for the Congress of Trade Unions shows that Labor is on course for a landslide victory in the next election, according to The Guardian.

It is not just current members of Parliament who are calling for Truss’ resignation. Former Conservative Finance Minister George Osborne said on Sunday, on the show “The Andrew Neil Show” from Channel 4, that “the most likely outcome is that it will fall before Christmas“.

Truss’s policies, and their reversals, have reverberated through the world of finance, leaving banks questioning the Prime Minister’s future.

It is not easy to see how Truss, whose tenure is now in tatters, can continue as Prime Minister for long. We would not be surprised if Tory MPs pressure Truss to resign in [următoarele] days. With more than two years until the general election (January 2024), the Conservative Party may decide that its best chance of staying in power is to move on quickly with a new leader”, said analysts from Berenberg Bank.

Citi went further and asked whether Truss’s party is capable of going through and surviving the current economic crisis.

The fundamental question here is whether any conservative leader can provide credible economic direction. We are increasingly insecure. The implication is that Prime Minister Truss is now facing pressure between his party on the one hand and the markets on the other. We believe further market volatility is likely to occur“, it is stated in a note of analysis of the bank.

The Cabinet Office did not immediately respond to a request for comment.

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