December 6, 2022

Lakeview Gazette

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Liz Truss has announced a radical overhaul of her economic plan after replacing her star minister amid calls for her to resign.

The British Prime Minister held a brief press conference after dismissing Kwasi Kwarteng

In a new 180-degree turn, the increasingly questioned British Prime Minister, Liz dressannounced on Friday Increase corporate taxAs predicted by the previous government “Commit to the Markets”.

“It’s clear that some parts of our mini-budget were too fast for the markets,” Truss admitted at a brief press conference in which he stressed the need. “Stability” for the British EconomyAfter sacking his finance minister, the ultra-liberal Kwasi Kwarteng;.

“I am determined to fulfill my promise to get one Stronger growth, a more prosperous England and we see ourselves riding out the stormTruss said.

The British Prime Minister held a brief press conference after dismissing Kwasi Kwarteng

Markets’ initial reaction appears to be positive with the London Stock Exchange and bond yields rising sharply.

Truss fired Quarteng, who had returned to London from Washington before he was scheduled to hold talks with members of the government over his controversial development plan. Jeremy Hunt He was announced as the new Economy Minister in his place.

You asked me (Liz Truss) to step down as your chancellor. I accepted. “When you asked me to be president, I did so knowing full well that the situation we face is incredibly difficult, with global interest rates and energy prices rising,” Kwarteng wrote in a letter posted on his Twitter account. Government.

British Prime Minister Liz Truss and former President Kwasi Kwarteng attend the Conservative Party Annual Conference in Birmingham, Britain on October 2, 2022. REUTERS/Hannah McKay/File

In the midst of the crisis, Conservative MPs have A to Liz dress 17 days to save UK Prime Ministership. First Minister of Scotland, Nicola SturgeonThe current head of government joined those calling for his resignation.

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“The best thing Liz Truss can do now for economic stability is to resign.”He wrote on his Twitter account.

Nicola Sturgeon, First Minister of Scotland and leader of the Scottish National Party (SNP), speaks during the annual national conference of the Scottish National Party (SNP) on October 10, 2022 in Aberdeen, Scotland, Britain.  REUTERS/Russell Cheyne
Nicola Sturgeon, First Minister of Scotland and leader of the Scottish National Party (SNP), speaks during the annual national conference of the Scottish National Party (SNP) on October 10, 2022 in Aberdeen, Scotland, Britain. REUTERS/Russell Cheyne

Former “Chancellor” Kwarteng had traveled to the US for the annual meeting of the International Monetary Fund (IMF). Tensions in the United Kingdom over its growth plan, which provided massive tax cuts, prompted him to return to London one day..

The funding plan was announced at the end of September The pound sterling fell against the US dollar and raised the cost of UK long-term debt.

That’s what the media speculated this week The government is considering backing out of some of its plans And repeal part of the corporate tax cuts planned for the next few years.

(With information from AFP and EFE)

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