LONDON: New UK Prime Minister Liz Truss’s early missteps have prompted turmoil in her personal poll ratings, as well as financial markets, with a survey on Friday finding half of Britons think...
LONDON: New UK Prime Minister Liz Truss’s early missteps have prompted turmoil in her personal poll ratings, as well as financial markets, with a survey on Friday finding half of Britons think she should resign.
Less than four weeks into the top job, and a week after the disastrous unveiling of a mini-budget that cut taxes for the wealthiest amid a cost-of-living crisis, 51 percent of people polled by YouGov said she should quit.
It represents a damning verdict on the latest Conservative leader, who succeeded Boris Johnson on September 6 after he resigned following a slew of scandals. Truss beat former finance minister Rishi Sunak in a summer-long leadership contest, promising immediate tax cuts and a focus on driving economic growth amid predictions of recession in Britain.
But when new Chancellor of the Exchequer Kwasi Kwarteng unveiled their tax-slashing plans last week, they went further than many were expecting, abolishing the top rate of income tax and lifting a cap on bankers’ bonuses.
The controversial economic package, which will dramatically increase government borrowing, also unusually lacked an accompanying cost analysis forecast from the country’s fiscal watchdog, the Office of Budget Responsibility.