After The Economist magazine quipped that U.K. Prime Minister Liz Truss “blew up her own government” so quickly that she had “roughly the shelf-life of a lettuce,” a newspaper set up a live stream to monitor if she could outlast a lettuce of their own.
October 19, 2022, 5:35 AMBritish Prime Minister Liz Truss attends a news conference in London, Britain, on Oct. 14, 2022.It was only six weeks ago that Liz Truss met Queen Elizabeth II and was appointed the new prime minister of the U.K. But six weeks is a long time in British politics and, after a major policy U-turn along with unconvincing attempts to reassure her Conservative party and the public, she is already under major pressure to resign.
Kwasi Kwarteng, the new Chancellor of the Exchequer, announced the government's first major policy plan to advance Truss's economic vision in the House of Commons on Sept. 23.
Economic chaos followed, as the budget triggered an immediate adverse reaction from the markets. The Bank of England, the U.K.’s central bank, was forced to buy government bonds to ease fears that the state pension fund could collapse. Interest rates were forecast to rise, meaning mortgages rates, as well as household bills, were set to increase against a backdrop of rising inflation.
People walk past a mural by artist Ciaran Gallagher, left, which has been updated to reflect Britain's Prime Minister Liz Truss' current political troubles, in Belfast, Northern Ireland, on Oct. 18, 2022.Amid mounting criticism the government attempted to calm the storm, but last week Kwarteng, a long-time supporter and personal friend of Truss, became the first ministerial casualty of the policy, as he was asked to resign as chancellor.
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