British Prime Minister Liz Truss remains in office, for now, largely because her Conservative Party is divided over how to replace her.
Powerless, humiliated, labeled a"ghost" prime minister and compared unfavorably to a head of lettuce — this is not a good week for Liz Truss. Britain's prime minister was scrambling to recover her grasp on power Tuesday after her economic plans were ripped up and repudiated by a Treasury chief whom she was forced to appoint to avoid meltdown on the financial markets.Truss remains in office, for now, largely because her Conservative Party is divided over how to replace her.
Britain's Prime Minister Liz Truss looks down during a press conference in the Downing Street Briefing Room in central London, October 14, 2022, following the sacking of the finance minister in response to a budget that sparked chaos in the financial markets.Few believe that. Britain's lively, partisan press is unusually united in the opinion that Truss is doomed.
The left-leaning Guardian compared the Conservatives to a mutinous ship's crew, saying"Truss has not left her party. But it appears to have left her.
An image from the YouTube page set up by the British tabloid the Daily Star, which is asking readers whether Liz Truss' tenure as British prime minister will"outlast" a head of lettuce. Truss initially tried to stay the course after her government's package of 45 billion pounds in unfunded tax cuts spooked the markets, pushing up government borrowing costs, raising home mortgage costs and sending the pound plummeting to an all-time low against the dollar.
U.K. Chancellor of the Exchequer Jeremy Hunt speaks on the floor of the House of Commons in London as his boss, Prime Minister Liz Truss , listens, October 17, 2022.The market for British government bonds and the pound weakened Tuesday as relief over the government's decision to ditch the unfunded tax cuts was tempered by the recognition that the new policies are likely to mean slower economic growth.The pound fell 0.75% against the U.S. dollar to $1.
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