Liz Truss Announced Her Resignation After 45 Days And The Pandora Box Is Now Open In The UK Parliament
Liz Truss announced her resignation after 45 tumultuous days as prime minister. This led to the second Tory leadership race in four months. After being forced to resign due to a mutiny by Tory MPs, Ms. Truss predicted that her replacement would be chosen by next week.
Author:Darren McphersonReviewer:Camilo WoodOct 21, 202232.4K Shares832.6K Views
Liz Truss announced her resignation after 45days as prime minister. This led to the second Tory leadership race in four months.
After being forced to resign due to a mutiny by Tory MPs, Ms. Truss predicted that her replacement would be chosen by next week.
Boris Johnson, an MP, is said to be thinking about running for office, but Chancellor Jeremy Hunt has ruled himself out.
Following a series of U-turns on her economic plan that diminished her authority, Tory MPs rose against Ms. Truss.
Ms. Truss said in a brief statement outside Downing Street that the Conservative Party had chosen her on a platform of tax reduction and economic growth stimulation.
“„I recognise that I cannot deliver the mandate on which I was elected by the Conservative Party.- Lizz Truss, Former Prime Minister of United Kingdom.
After Ms. Truss's speech, opposition parties and the leader of the Labour Party, Sir Keir Starmer, called for an immediate general election.
Ms. Truss said she would stay in her job until a legal replacement is chosen as the party leader and King Charles' prime minister.
While Mr. Hunt, who was named chancellor last week, will not run for the leadership, none of the opponents of Ms. Truss, who ran in the prior election, have declared their intentions to run.
What Is Happening Inside The Tories Party
According to Conservative sources who spoke to the BBC, Jacob Rees-Mogg, the business secretary, has reportedly been urging colleagues to support Mr. Johnson in the campaign.
Sir Graham Brady, the head of the backbench Conservative MPs' 1922 committee, said that a new leader might be picked by next Friday.
According to party rules, candidates for the leadership must have the support of 100 MPs to be considered. This means that only three people can run for the position.
If there are three candidates, a first ballot will be cast among the MPs, and the candidate with the fewest votes will be removed.
If a second vote is required, MPs will be allowed to indicate their preferences through an indicative vote.
And if both candidates decide to continue running, party members will cast their final vote online.
When Ms. Truss leaves office, she will hold the record for the shortest tenure as British prime minister.
After 12 years in power, Ms. Truss's resignation sparks a race to find a replacement to lead a party that is bitterly divided and trailing Labor in the polls.
Ms. Braverman, Kemi Badenoch, Penny Mordaunt, and Rishi Sunak, a former chancellor, were among the candidates who ran in the previous leadership election earlier this year.
Even though none of them have officially said they want to run, their supporters are talking them up as possible candidates to replace Ms. Truss.
Boris Johnson, a former prime minister, has also not denied rumors that he is thinking about running again for the Conservative leadership, and neither have his supporters.
According to a source close to Mr. Johnson, they are currently "not saying anything either way."
Another former prime minister, Theresa May, stated in a tweet that "MPs now need to be willing to compromise."
At this pivotal time for our nation, she wrote, "It is our responsibility to provide a sensible, capable government."
What Did The Opposing Parties Say?
Opposition parties derided the idea of a new prime minister taking office without a general election as the Tories calculated their chances of winning the leadership.
The British people "deserve so much better than this revolving door of chaos," said Sir Keir, adding that the Conservative Party "no longer has a mandate to govern."
Following Ms. Truss' resignation, Scotland's First Minister, Nicola Sturgeon, referred to a general election as a "democratic imperative."
Sir Ed Davey, the leader of the Liberal Democrats, declared that his party was willing to cooperate with Labour in order to "get the general election our country needs to give the British people their say."
The Conservatives won a landslide majority in the most recent general election in 2019, so the next one isn't scheduled to happen until at least 2024.
The Liberal Democrats have also asked Ms. Truss to turn down a £115,000-a-year allowance for former prime ministers.
The Public Duty Expenses Allowance is a sum of money that is meant to help with "essential office charges and secretarial costs that come with their specific position in public life."
“„Liz Truss will forever be known as the 50-day prime minister - there is no way that she should be permitted to access the same £115,000-a-year for life fund as her recent predecessors - all of whom served for well over two years.- Christine Jardine, Liberal Democrats' cabinet office spokesperson.
Darren Mcpherson
Author
Darren Mcpherson brings over 9 years of experience in politics, business, investing, and banking to his writing. He holds degrees in Economics from Harvard University and Political Science from Stanford University, with certifications in Financial Management.
Renowned for his insightful analyses and strategic awareness, Darren has contributed to reputable publications and served in advisory roles for influential entities.
Outside the boardroom, Darren enjoys playing chess, collecting rare books, attending technology conferences, and mentoring young professionals.
His dedication to excellence and understanding of global finance and governance make him a trusted and authoritative voice in his field.
Camilo Wood
Reviewer
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing.
Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers.
Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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