Liz Truss

New chancellor vows to be 'completely honest with country' amid rumours PM has only weeks left in role.

But we are talking about very difficult decisions in budgets where there is already a great deal of pressure.” Hunt, twice a Tory leadership contender and a former foreign secretary, said: “We will have some very difficult decisions ahead. Some taxes will go up … It was a mistake, when we’re going to be asking for difficult decisions across the board on tax and spending, to cut the rate of tax paid by the very wealthiest. “It was a mistake to fly blind and to do these forecasts without giving people the confidence of the Office for [replacing Kwasi Kwarteng](https://www.theguardian.com/politics/2022/oct/14/jeremy-hunt-chancellor-surprising-return) on Friday, the former health secretary signalled he would have a “clean slate” when it came to the budget, and vowed to be “completely honest with the country” amid rumours that Truss has only weeks left as prime minister.

Mr Hunt confirmed that he has the permission to unpick the mini-budget as he sees fit. Hobbled by U-turns on her flagship policies, Liz Truss has reached for ...

Mr Hunt today wouldn't commit to the 2023 cut in the basic rate of income tax announced just three weeks ago. That is why many in the party are now convinced that Liz Truss will have to go, even if the manner of her exit is still unclear. But then again, there is an argument to be made that Jeremy Hunt - who backed Rishi Sunak - is now more powerful than Liz Truss. This will be compounded by a sense there is now an ideological vacuum at the heart of this government. Jeremy Hunt has confirmed that Prime Minister Liz Truss's economic vision is not only dead, but that the immediate actions of this administration will be to do almost exactly the opposite of what the prime minister promised during the summer leadership campaign. Politically, there is an argument to be made that Jeremy Hunt is now more powerful than the prime minister - and can push through unpopular policies.

UK finance minister Jeremy Hunt said, “It was a mistake to fly blind and to do these forecasts without giving people the confidence.” | World News.

The prime minister has recognised that, that's why I'm here." "It was a mistake to fly blind and to do these forecasts without giving people the confidence of the Office of Budget Responsibility saying that the sums add up. UK finance minister Jeremy Hunt said, “It was a mistake to fly blind and to do these forecasts without giving people the confidence.”

Mr Hunt was appointed yesterday evening after Ms Truss sacked Kwasi Kwarteng over the catastrophic reaction to the mini-budget the prime minister and former ...

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The new Chancellor has criticised the "mistakes" of the Liz Truss administration in his first interview since taking the job, as he warned of "difficult ...

The Prime Minister's recognised that, that's why I'm here." [Prime Minister](/topic/prime-minister) but I want to be honest with people: we have some very difficult decisions ahead," he told Sky News. No Chancellor can control the markets.

The situation for the UK prime minister is dire, but is it hopeless? Having Jeremy Hunt in No. 11 Downing Street could still save her.

Although he is a free-marketeer by conviction, a big plus point for Hunt is that he gets the importance of empathy. Contrast that with Truss’s failure to acknowledge the cost to homeowners of the soaring mortgage bills that followed the mini-budget. Previously, he was editor of the Sunday Times of London and its chief political commentator. The government has a maximum of two years before its allotted time is up, but the prime minister may struggle to survive her MPs’ displeasure until next month. The prime minister is now surrendering the major planks of her libertarian program. Although another leadership putsch would install the fifth Tory prime minister in six years, fear of electoral oblivion is driving the parliamentary party to contemplate desperate measures. Has the prime minister too become a figurehead? The markets had already baked in surrender. Unlike Wilson and Major, who had earlier triumphed at the polls, this prime minister has no electoral mandate for her libertarian prospectus. Harold Wilson, the UK’s most economically literate prime minister since World War II, for instance, wasted enormous political capital defending the value of the pound. On Friday, the prime minister duly performed her screeching U-turn but refused to resign. The situation is dire, but is it hopeless?

Truss technically cannot face a leadership challenge unless until 12 months unless the powerful 1922 Committee of backbench MPs vote to change their rules.

"Those absurdly called grandee MPs (men) agitating to remove Liz Truss are all Sunak supporters. However, former prime minister Boris Johnson loyalists have condemned such plotting and termed it as anti-democratic by disgruntled Rishi Sunak backers. Truss technically cannot face a leadership challenge unless until 12 months unless the powerful 1922 Committee of backbench MPs vote to change their rules.

Amid a growing backlash, UK PM Liz Truss is striving to hold on to her job. To allay the resentment, Truss has sacked her Finance Minister Kwasi Kwarteng ...

It is not fair to have a recession, it is not fair to have a town where you are not getting the investment, it is not fair if we don’t get high-paying jobs in the future because we have got the highest tax burden in 70 years. Follow us on [also read] [World](https://www.firstpost.com/category/world) [Weeks after unfunded tax cuts in UK, Kwasi Kwarteng sacked as British Chancellor](https://www.firstpost.com/world/weeks-after-unfunded-tax-cuts-in-uk-kwasi-kwarteng-sacked-as-british-chancellor-11451541.html) To allay the resentment, Truss has sacked her Finance Minister Kwasi Kwarteng and taken a major U-turn on her key economic policy The Indian High Commission responded by saying that action had been taken it’s a plot not to remove a PM but to overturn democracy.” Will Truss be able to save her post? “The reality is having lower taxes across the board helps everybody because it helps grow the economy and for too long the debate in this country has been about distribution, not how we grow our economy. What has happened since Liz Truss took over less than 40 days ago that has jeopardised her stay in power? Barely a couple of months ago, when Liz Truss was voted to power, it seemed clear that Truss and Kwarteng were the closest of political allies, but a few lopsided decisions and the turmoil in the financial markets of the United Kingdom led to the split . . There was an uptick in mortgage rates. On Thursday, Kwarteng had said he was ‘not going anywhere’.

Industrialist Anand Mahindra reacted to reports of a British tabloid challenging UK PM Liz Truss to outlast a head of iceberg lettuce.

"I want to deliver a low-tax, high-wage, high-growth economy," Truss added. "That mission remains." it asked in a Twitter post.

Britain's new finance minister Jeremy Hunt said that Britain needs stability and that Prime Minister Liz Truss needs time, saying the government's record ...

[Dailymotion ](https://www.dailymotion.com/DeccanHerald) [Twitter ](https://twitter.com/DeccanHerald) [Facebook ](https://www.facebook.com/deccanherald/)

The prime minister has hinted at a rethink of her predecessor's policy commitments. As parliament returns, which are most at risk?

“We need,” Clarke added, “a clear commitment to prioritise health inequalities and deliver the health disparities white paper as planned.” The Department of Health and Social Care, however, has since breathed life into the prospect of its publication, and described reports of its scrapping as “inaccurate”. The shadow chancellor Rachel Reeves also strongly condemned Truss and Kwarteng’s stalling: “The idea that the government can afford to give tax cuts to the wealthiest, but not uprate benefits in line with inflation… It added that “no decisions have been taken” on whether it will be published. The future of the government white paper on health inequalities looks uncertain too. A government pledge that looks less certain to survive is the raising of benefits in line with inflation. “What I want to make sure is we protect the under-18s from harm, but we also make sure free speech is allowed, so there may be some tweaks required,” she told parliament. It puts the onus on search engines and sites that host user-generated content to protect the public from material including child sexual abuse, terrorism and, most contentiously, “legal but harmful content”. The bill is currently at the report stage, the level before MPs debate and vote on its contents for the third and final reading – which is scheduled to take place this autumn. Asked to clarify whether she was “starting from scratch on everything”, the Prime Minister implied that this is exactly what she was doing. One of the most important pieces of legislation from the Johnson premiership that looks likely to survive is the Online Safety Bill, introduced by the Department for Culture, Media and Sport (DCMS) and Dorries, Truss’s ally-turned-critic. If we don’t want to deliver on the deal, [and] the promises [we made], we need a fresh mandate.” Dorries had also tweeted that “if Liz [Truss] wants a whole new mandate, she must take [it] to the country”, suggesting that the Prime Minister should call a general election.

The squabble has erupted at a time when Conservative lawmakers are growing increasingly concerned about the Prime Minister's mini-budget.

"Rishi’s people, Penny’s people, and the sensible Truss supporters who realise she’s a disaster just need to sit down together and work out who the unity candidate is." This development is being seen as a possibility as rebels of the UK's governing conservative party are joining hands to oust British Prime Minister Liz Truss and replace her with Penny Morduant and Rishi Sunak jointly, the Times reported. Senior Tories are debating electing a new leader and ousting Liz Truss after just six weeks in office because of the harsh criticism she has received.

After being appointed as the UK's new finance minister, Jeremy Hunt stated his predecessor had made "mistakes", referring to planned tax cuts announced by ...

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. The mention of tough decisions on spending raised questions about cuts to the NHS' budget. When he was asked by Sky news if this will mean a return to austerity, the new Chancellor replied, "I don't think we're talking about austerity in the way we had it in 2010. We deliver over 10 - 15 high quality articles with expert insights and views. "I want to be honest with people, we have some very difficult decisions ahead. "It was a mistake when we were going to be asking for difficult decisions across the board on tax and spending to cut the rate of tax paid by the very wealthiest," Hunt told Sky news.

Jeremy Hunt, the new UK Chancellor appointed by Prime Minister Liz Truss after she sacked her friend Kwasi Kwarteng in an attempt to calm the ongoing ...

According to party insiders, it is hard to find Tory MPs who do not believe that Truss' days at 10 Downing Street are numbered. This means the turbulence at the very top of the UK government is far from over, with disgruntled Tory rebels and Sunak loyalists defiantly against the new leader amid her various U-turns. I'm going to be asking all government departments to find additional efficiency savings," he said.

Her new chancellor is looking to reassure investors and reset public finances but some painful choices lie ahead.

One was: "We will do whatever is necessary to ensure debt is falling as a share of the economy in the medium term". With her authority in tatters, she is a prisoner of her cabinet, if they combine to stand up to her. She is a prisoner of her parliamentary party, in which MPs are reported to be deeply dismayed and unimpressed. They also want to see an economy that's geared for growth, and Liz Truss is not the only person who thinks that the UK needs to boost its growth rate. Thursday's expectations of a U-turn rallied bond prices and the pound. Those others are more likely to identify low productivity as the vital and malfunctioning cog in the British economic machine. Corporate investors are attracted to countries with a strong and reasonably predictable rule of law. Bond investors primary concern is with levels of borrowing, but do they care much about the balance of tax and spending? But their job is to safeguard money and earn from it, so they also make a judgement about how much that borrowing profile is likely to change with a new government. For those who invest in company shares rather than bonds, there is a recognition that firms do well in a country with strong public services. You might well find that financiers are more likely to be both conservative about public finance and Conservative with their votes. The experience of Greece, during the Eurozone crisis, showed how it can happen - a democratic mandate blown off course because the markets don't think the government can sustain its borrowing.

If UK Prime Minister Liz Truss is ousted from power, here are some of the possible candidates from the Conservative party who could replace her.

Wallance was also among the favourites to replace Boris Johnson but he decided not to contest in the Tory leadership race, the reasons for which remain unclear. Mordaunt was second to Rishi Sunak during the PM race until the fifth and final round, when Liz Truss overtook her. Boris Johnson, who famously led the Conservative party to a resounding win in 2019, was forced to step down after an ethics scandal and mass resignations from his cabinet. Mordaunt, 49, was the first woman appointed the UK’s defence secretary, a post she held for only 85 days. He gained popularity during the pandemic for his economic package to aid businesses and employees. He was one of the supporters of Boris Johnson during his 'leave EU' campaign.

The UK is mired in a political and economic mess of the Prime Minister's own doing.

Some of the descriptions being used by analysts and members of her own party alike likened this crisis to that of a circus, only the ringmaster has left and the lions were devouring the acrobats. Please tell me that there are adults in the room. I will be generous in offering that in three weeks, the cost to the British taxpayer has been close to £200 billion — and that’s after two screeching U-turns on key policy elements of that budget. I listened to the remarkable events unfold Friday as I drove from Manchester to Birmingham. This is the UK — the sixth or seventh — depending on how you read the data — largest economy globally. And certainly been the cause of cardiac stress if not outright cardiac failure.

Among those who apparently believe it wouldn't be too long is the British tabloid Daily Star, and it's running a livestream as a run up to her possible ...

The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). Great (Brutal) Britain. [Business News](/news), [Breaking News](/breakingnewslist.cms)Events and [Latest News](/news/latest-news)Updates on [The Economic Times](/).) She is now depending on Hunt to help salvage her premiership less than 40 days after taking office. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein. [lettuce](/topic/lettuce).

Anand Mahindra's reaction to the bizarre challenge between Liz Truss and a piece of lettuce sparked a conversation on Twitter.

BJP vs JD(U) BJP Hits Out While some cracked j0okes, others felt bad for the PM.

By Anuja Jha: On September 5, Conservative Party leader Liz Truss won the UK PM race, defeating her rival Rishi Sunak to win the Tory leadership contest.

The other option is for Penny Mordaunt to take the roles of party leader and prime minister with Rishi Sunak as Chancellor. It remains to be seen what final steps the Conservative leadership takes, but the winds do not seem to favour Liz Truss at the moment. However, the UK PM was soon forced into a humiliating U-turn, reversing a cut to the highest rate of income tax after it sparked turmoil in financial markets and a rebellion in her party. Liz Truss defended her government’s action and argued that the market turbulence following the announcement of planned was a result of global problems due to Ukraine war. Under fire over the economic turmoil, Liz Truss sacked Kwasi Kwarteng and appointed Jeremy Hunt as the new finance minister. With an aim to break the “cycle of stagnation” in the British economy, Kwarteng unveiled a mini-budget on September 23. However, the sweeping tax cuts and energy freeze, which was intended to boost the UK’s troubled economy, did not have the desired effect on the market. In UK's most diverse Cabinets unveiled, Liz Truss appointed Kwasi Kwarteng as finance minister -- the first first Black man at the post. And after a bitter Tory leadership contest with Rishi Sunak, Liz Truss was elected the prime minister of UK. Liz Truss inherited all these problems when she assumed the charge of prime minister. Liz Truss was also expected to quickly get a handle on rising inflation. [By Anuja Jha](/author/anuja-jha): On September 5, Conservative Party leader Liz Truss won the UK PM race, defeating her rival Rishi Sunak to win the Tory leadership contest.

Reports suggest rebels want Rishi Sunak to replace Liz Truss as the crisis in the UK grows. A poll suggests that around half of the Conservative Party ...

Reportedly, another option will be to make Penny the Prime Minister and party leader while Sunak becomes the Chancellor. Backbenchers are looking for Sunak to be the Prime Minister and Penny Mordaunt to be the Deputy. Reports suggest that backbenchers are suggesting Rishi Sunak to be the Prime Minister and Another option will be to make Penny the Prime Minister and party leader while Sunak becomes the Chancellor. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). More reversals are expected related to tax-cutting, and the Tory backbenchers might change their party leader.

London: UK Prime Minister Liz Truss has sacrificed her Finance Minister and closest political ally just weeks into her premiership in order to save her.

What Conservative MPs are most worried about is that Truss’s credibility is blown and her authority gone. Truss swiftly replaced Kwarteng with Jeremy Hunt, a former cabinet minister of multiple briefs who has stood for the leadership twice. Kwarteng and Truss were in lockstep in their vision for Britain; removing him from office is a tacit acceptance that her economic plan has failed, it said.

The new chancellor has junked the prime minister's economic strategy in 24 hours, writes Laura Kuenssberg.

One former minister said there had been a "total seepage of power and authority" and she is on her way out in either weeks or months. Believe the polls and Ms Truss' start in office has been an epic disaster from which it is hard to see a return. Boris Johnson and Theresa May survived far, far longer than many of their colleagues had hoped. But that arithmetic won't be pretty - public spending cuts are on the way and taxes could rise too. And yet, very often, it does. But has she killed off what political authority she had left and handed it to someone else?

Industrialist Anand Mahindra, who frequently shares interesting content with his Twitter followers, recently reacted to reports of a British tabloid pitting ...

[Jeremy Hunt](https://www.ndtv.com/world-news/difficult-decisions-ahead-uks-new-finance-minister-jeremy-hunt-warns-of-tax-hikes-3433817). "Great (Brutal) Britain," he quipped in the caption. He will drive our mission to go for growth, including taking forward the supply-side reforms that our country needs," she said on Friday. [trending news](https://www.ndtv.com/offbeat) Mr Mahindra shared the post on Saturday, and in just a few hours, the screenshot accumulated more than 6,500 likes. "Which wet lettuce will last longer?," the outlet asked in a Twitter post showing the feed.

LONDON — What do British Prime Minister Liz Truss's political tenure and a wilting head of lettuce have in common, you might ask?

[echoed](https://twitter.com/LibDems/status/1580897121435144192) a similar sentiment: “Enough is enough. before frantically flying back to the U.K.), with a former foreign minister Jeremy Hunt, who pledged Saturday to restore economic credibility. Hunt lost the Conservative Party leadership race to Johnson in 2019. “We need a change in government.” “Changing the Chancellor doesn’t undo the damage made in Downing Street. [predicting ](https://www.washingtonpost.com/world/2022/09/06/liz-truss-troubled-britain-leader/?itid=lk_inline_manual_36)a possible winter of discontent on the horizon. [plunging the pound](https://www.washingtonpost.com/world/2022/09/27/british-pound-drop-dollar-us-impact/?itid=lk_inline_manual_31) and forcing the [Bank of England to take unprecedented interventions](https://www.washingtonpost.com/world/2022/09/28/boe-uk-pound-intervention/?itid=lk_inline_manual_31) to quell the financial revolt. It started with Boris Johnson failing our country, and now Liz Truss has broken our economy. [decried ](https://twitter.com/PippaCrerar/status/1581016433420832769)“A day of chaos,” while the Mirror tabloid [simply ](https://www.bbc.co.uk/news/blogs-the-papers-63265862)said “Time’s up.” [dubbed ](https://www.economist.com/leaders/2022/10/11/liz-truss-has-made-britain-a-riskier-bet-for-bond-investors)Truss “The Iceberg Lady,” bluntly predicting her career has “the shelf-life of a lettuce.” [accused ](https://www.dailystar.co.uk/news/latest-news/liz-truss-lettuce-last-longer-28235047)Truss of being a “lame duck PM” following a “shambolic day,” on Friday as she [fired her finance minister](https://www.washingtonpost.com/world/2022/10/14/uk-truss-kwarteng-budget-tory/?itid=lk_inline_manual_13), Kwasi Kwarteng, after just 38 days in office and u-turned on tax policies, in a bid to steady the wobbling economy. [quipped](https://twitter.com/lockdownurlife/status/1580904686772637696): “In the US we measure such things in Scaramuccis,” referring to Anthony Scaramucci — the [short-serving](https://www.washingtonpost.com/news/post-politics/wp/2017/07/31/anthony-scaramucci-removed-as-white-house-communications-director/?itid=lk_inline_manual_20) White House communications director, who lasted less than a week in the Trump administration.

Britain's Liz Truss has sacrificed her finance minister and closest political ally just weeks into her premiership in order to save her own skin, ...

Under party rules, Truss is protected from a leadership challenge for the first year of her premiership. All of which means that for now, Truss and her party are stuck. Some Conservative MPs think that Hunt, who served as health secretary, foreign secretary and culture, media and sport secretary under previous governments, will bring unity to a party that is still recovering from the summer’s bruising leadership contest. Truss swiftly replaced Kwarteng with Jeremy Hunt, a former cabinet minister of multiple briefs who has stood for the leadership twice. Kwarteng and Truss were in lockstep in their vision for Britain; removing him from office is a tacit acceptance that her economic plan has failed. Kwarteng being gone, however, does not mean that Truss is out of the woods.

Amid economic turmoil, Britain's new finance minister, Jeremy Hunt, on Saturday warned of looming tax hikes as he admitted to "mistakes" made in a ...

According to British media reports, Liz Truss is desperately clinging to her chair. Some taxes will go up," he indicated. "There were mistakes," acknowledged Hunt, a former foreign secretary who is seen as a Tory centrist.

As new chancellor Jeremy Hunt rips up prime minister's economic plans, Conservatives plot route to replace her.

I think that she would probably be best advised to sit down with Sir Graham Brady and discuss how we can have a replacement in a day or two.” However, he warned that “inflationary pressure” would probably need a “stronger response” in terms of increasing interest rates. Hunt will be allowed to reexamine the case for a windfall tax on energy companies, and on Saturday night it emerged that he plans to delay the penny cut in income tax that was another key part of Truss’s package. “It is a case now of whether she takes part in the process and goes to some extent on her own terms, or whether she tries to resist and is forced out.” In a repudiation of the economic plans that won Truss the Tory leadership, he said that some taxes would rise while public spending would be held down. “When you’ve got both Philip Hammond and Nadine Dorries saying that if we change leader again there’s got to be a general election, that’s not light scaremongering. A group of senior MPs will meet on Monday to discuss the prime minister’s future, with some wanting her to resign within days and others saying she is now “in office but not in control”. Another involved in canvassing MPs said that, just as with the removal of Boris Johnson, the process of agreeing to move against Truss remained difficult. A source familiar with the conversations said: “They are just going to have to sit down and work things out. “She is in the departure lounge now and she knows that,” said a former minister. It now becomes a rescue mission for the Conservative party and the economy. On Saturday night, he said Truss’s mini-budget “went too far, too fast”.

US president makes unusual intervention, saying he is worried by 'lack of economic growth and sound policy in other countries'

Hunt is expected to announce that plans to reduce the basic rate of income tax next April will be pushed back by a year. I’m concerned about the rest of the world. “I wasn’t the only one that thought it was a mistake,” Biden said.