Liz Truss

Truss' announcement follows weeks of criticism from her opponents and members of own her Conservative Party, and the resignation of two of her top Cabinet ...

Braverman was replaced by another Conservative whom Truss had pushed out of her cabinet just six weeks earlier when she took office. Within days, Hunt had almost entirely canceled the remainder of Truss' economic program, and as opponents inside and outside her Conservative Party began calling for her to step down, another senior cabinet member, interior minister Suella Braverman, was herself forced to resign for sending a sensitive document from a personal email account. A series of significant missteps meant that much of the political vision she outlined during her campaign for leader was ditched after seriously adverse reactions from financial markets.

Earlier on Thursday, Truss acknowledged that she had "difficult day" after a key minister resigned and MPs rebelled, but showed no sign of quitting.

However, officials said Truss had initiated the meeting, and that it was not a sign her departure was imminent. On Thursday, Truss acknowledged that she had "difficult day" after a key minister resigned and MPs rebelled, but showed no sign of quitting. Just a day earlier Truss had vowed to stay in power, saying she was "a fighter and not a quitter."

(1st UPDATE) Speaking outside the door of her Number 10 Downing Street office, Truss accepts that she has lost the faith of her party and says she will step ...

Approval ratings for her and the Conservative Party collapsed. Party members and Conservative lawmakers are expected to be given a say in the vote. A new leadership election will be completed by next Friday, October 28.

British Prime Minister Liz Truss resigned Thursday — bowing to the inevitable after a tumultuous, short-lived term in which her policies triggered turmoil ...

[the value of the pound](https://apnews.com/article/british-pound-drop-impact-f7ad86f223babcf2748978b3b9ea44bd) and increasing the cost of U.K. [The Bank of England](https://apnews.com/article/business-financial-markets-government-and-politics-fe75ea6e85a0ed7c9c77677040b48ef1) was forced to intervene to prevent the crisis from spreading to the wider economy and putting pension funds at risk. [Hunt](https://apnews.com/article/business-economy-economic-stimulus-jeremy-hunt-9ab5f4e2bd0f278d087516b8127d10e3), scrapped almost all of Truss’ tax cuts, along with her flagship energy policy and her promise of no public spending cuts. He said the government will need to save billions of pounds and there are “many difficult decisions” to be made before he sets out a medium-term fiscal plan on Oct. Among potential replacements — if only Conservative lawmakers can agree — are Sunak, House of Commons leader Penny Mordaunt and newly appointed Treasury chief [Jeremy Hunt](https://apnews.com/article/business-economy-economic-stimulus-jeremy-hunt-9ab5f4e2bd0f278d087516b8127d10e3). Truss’ downfall was hastened by the resignation on Wednesday of Home Secretary Suella Braverman. [economic plan](https://apnews.com/article/inflation-economy-liz-truss-62a86ff2e88ee60b3e8773419fe7d4d2). “It’s time for the prime minister to go,” Conservative lawmaker Miriam Cates said earlier Thursday. Newspapers that usually support the Conservatives were vitriolic. With Conservatives holding a large parliamentary majority, an opposition call for a fracking ban was easily defeated. Truss, who said she will remain in office for a few more days while that process unfolds, has been prime minister for just 45 days. Truss quit after a meeting with Graham Brady, a senior Conservative lawmaker who oversees leadership challenges.

LONDON — The question was all over British social media. Who would survive longer: the U.K.'s prime minister Liz Truss, or a wilting head of lettuce with a ...

The Daily Star newspaper’s YouTube account even launched a live stream. After all, Truss’s government had sent the markets reeling after a misfired attempt by the Conservative Party leader to radically reorient the government’s economic agenda by slashing taxes without saying how the decision would be paid for. LONDON — The question was all over British social media.

LONDON — Liz Truss said on Thursday she would resign as British prime minister, brought down just six weeks into the job by an economic programme that ...

The new prime minister will be selected on Friday, Oct. He is due to deliver a new budget on Oct. Party members and Conservative lawmakers are expected to be given a say in the vote. 6, Truss was forced to sack her finance minister and closest political ally, Kwasi Kwarteng, and abandon almost all her economic programme after their plans for vast unfunded tax cuts crashed the pound and British bonds. Approval ratings for her and the Conservative Party collapsed. Those expected to run include former finance minister Rishi Sunak and Penny Mordaunt, a former defence minister.

Sterling climbs to $1.13 at one point before slipping back as markets digest the news of Liz Truss's exit.

In the meantime it pays interest on the loan. The government can raise money by selling bonds - also known as gilts - to investors. Mr French said the markets could rally "more aggressively" if a clear favourite emerged for PM. Some bonds halved in value. Her resignation came after a key minister quit and Tory MPs rebelled in a chaotic parliamentary vote on Wednesday. "But more needs to be done and the new prime minister and their chancellor have a big task to navigate the economy through the cost of living crisis, cost of borrowing crisis and the cost of credibility crisis."

It almost seemed foreordained from when we saw Prime Minister Liz Truss shake hands awkwardly with Her Majesty Queen Elizabeth in their first and only ...

She respected the will of her party and slipped away quietly. As others scramble in the wings to replace her, she may have been set up for failure. While she did win the votes of her party – not just in Parliament, but party members throughout Britain – she was never popular. Truss is not a hero, but she deserves credit for getting off the stage. Liz Truss will go down in history as the shortest-serving prime minister, but her manner of leave-taking should be remembered respectfully. And while it's easy, too easy perhaps, to mock Truss, her quitting was not a sign of personal weakness but rather governmental survival.

Our experts tell us what this political shuffling means for the United Kingdom—and whether there's truly a "unity candidate" in the running to take the ...

Europe, the United States, and the transatlantic relationship need the United Kingdom—a stable United Kingdom. It is possible that a new government would be faced with budget constraints for defense—but that will be the case for any government. This latest political crisis deals a blow to the United Kingdom’s international relationships, but it is also a blow to national self-confidence. Today is just the latest loop in a years-long political and economic roller coaster that has engulfed the United Kingdom. Ukraine will still be a priority and will receive support from the new government. But as the United Kingdom’s politics and economy have turned head over heels in the last few weeks, maybe this last taboo will be broken. It is now almost two years since the United Kingdom effectively left the European Union (EU), a decision which the respected Institute for Fiscal Studies has said resulted in a 4 percent hit to its GDP. Meanwhile, the United Kingdom is a source of amusement, disbelief, pity, and schadenfreude abroad. A politician who lost control of her message, then her budget, then her party to the point that the Labour opposition was breaking records in the opinion polls with hypothetical vote shares of 54 percent. Of the country’s fifty-six prime ministers since the office is usually said to have begun in 1721 under Lord Walpole (who also was the longest-serving, with a monarchical twenty years to his name), Truss will join Lord North, “who lost America,” and Anthony Eden, who saw then US President Dwight Eisenhower humiliate Britain over the Suez Crisis, as a byword for disaster. [Ben Judah: One Truss legacy—a Britain more nervous to borrow and more keen to tax ](#judah) [Peter Westmacott: Humiliation for the United Kingdom—and democracy](#westmacott-humiliation-for-democracy) [Frances Burwell: Disunity sends the UK spiraling toward irrelevance as a partner](#burwell-disunity-uk-spiraling) [John M. Trussenomics, however, as a phrase, an insult, or a warning in political life—that a British budget is dangerously uncosted and might spook the bond markets—will last a lot longer than her forty-four days in office.

A new leadership contest will take place within a week, Liz Truss said in her resignation speech outside Downing Street on Thursday.

May tried to bring together the warring wings of the Conservative party over Brexit, in move that ultimately saw her replaced by Boris Johnson. Having not served as a cabinet member before that contest, Tugendhat distanced himself from the moral mess of Johnson's government and promised a "clean start" for Britain. Some suspect that the new 100-vote threshold is an attempt by the Conservative Party to render another Johnson term impossible. There was even talk among MPs of the two forming a "dream team" ticket, although this is yet to materialize — and it is unclear if either would accept being chancellor over taking the top job. He was called back from his plough to return to Rome for a second term — this time as a dictator. With 105 votes from MPs in the last election, she too is expected to clear the newt threshold. Suella Braverman's resignation as home secretary on Wednesday night may have been a precursor to a possible leadership bid. He said he would "return to his plough" like the Roman statesman Cincinnatus — suggesting a quieter life on the backbenches. She is expected to perform well among the party membership, in part due to her military credentials. This will be the fifth Conservative prime minister in just over six years — and the third within this parliamentary term. Although Truss eventually won the decisive members' vote, Sunak only lost narrowly — with 43% of the vote. Perhaps even he would have been surprised by the pace with which he was proved right.

What she's saying: Truss said she recognized that she could not "deliver the mandate on which I was elected by the Conservative Party," and that the election to ...

- No election is due for two years, but many Conservatives are already expecting to lose power for the first time since 2010, possibly in a landslide. [disastrous weeks in office](https://www.axios.com/2022/10/19/truss-absolute-disgrace-conservatives-resign), during which her tax plan panicked the markets and her own party turned on her. People think she's not up to the job," says James Johnson, whose firm JL Partners has been conducting focus groups on Truss. In fact, she announced the tax cuts alongside massively expensive energy subsidies. - "There was anger toward Boris Johnson. - That's a remarkably short timetable for Conservative members of Parliament to pick their fifth prime minister since the 2016 Brexit referendum left the party deeply divided. That episode seemed to sum up Truss' short tenure. - "This whole affair is inexcusable. It's unclear if Johnson would be able to get enough parliamentary colleagues to support him. [finished second to Truss](https://www.axios.com/2022/09/05/liz-truss-wins-uk-next-prime-minister)in the leadership race but correctly warned of the economic dangers of her tax cut plans. [Times](https://www.thetimes.co.uk/article/liz-truss-latest-news-resign-tory-mp-westminster-follow-live-gf7g23fxm)of London and Daily [Telegraph](https://www.telegraph.co.uk/politics/2022/10/20/liz-truss-news-resign-pm-conservative-party-general-election/)both report that Truss' predecessor, Boris Johnson, is expected to throw his hat in the ring just three months after [resigning over a series of scandals](https://www.axios.com/2022/07/07/why-boris-johnson-resigned-prime-minister). She'll be the [shortest-serving prime minister in history](https://www.axios.com/2022/10/20/shortest-prime-ministers-term-uk).

Despite Liz Truss' record-setting brief tenure as prime minister of the U.K.—or because of it—there are several leadership lessons that corporate executives ...

“Leadership is not about you as a leader. “Listen to what your people have to say because their perspective is more valuable than you think. “The clarity of vision was ultimately her demise—she lacked a plan that could pass the laugh test in Parliament. “The thing about leaders is that they are always being watched and scrutinized. It's about the people who will be affected by your decision,” Kane commented. “Too great a change made too quickly, and your followers lose track of your core platform. And yet, if a leader changes too cautiously or too slow, your followers may deem you irrelevant,” he predicted. “She placed too much weight on the free-market ideology, which everybody else around her disapproves of. Moving too quickly without the input of experts or stakeholders demonstrates a lack of restraint and leads to unnecessary risk-taking. It shouldn't be about an experiment of a certain ideology. Leaders need a steady course, not a turnaround. Backtracking on decisions causes confusion and confusion creates panic in the markets,” Rosenberg observed,

In the end, the lettuce won the contest. Last week, as the British Prime Minister, Liz Truss, was surrounded by turmoil, a salacious Fleet Street tabloid ...

“The British public deserve a proper say on the country’s future.” Nicola Sturgeon, the leader of the Scottish National Party—the third-largest grouping at Westminster—also called for an early vote. [Brexit](https://www.newyorker.com/tag/brexit) vote, it has been through four years of political deadlock; then a deadly pandemic during which the Prime Minister and his aides repeatedly flouted social-distancing rules that applied to everyone else; and, in the past few months, an acute energy crisis. As long as it maintains a majority in the House of Commons, it can choose a new leader and govern until the next election. Right now, the Tories still have a comfortable majority in the House of Commons, and the next election doesn’t have to be held until January, 2025—more than two years away. On Thursday afternoon, the editors behind the stunt crowed, “Prime Minister Liz Truss has finally resigned, in a glorious victory for the Daily Star’s lettuce—which has so far refused to rule itself out of standing for leader of the Tory Party.” Her demise began late last month, with a slump in the value of the pound sterling—which she and her Chancellor of the Exchequer, Kwasi Kwarteng, precipitated by announcing a big package of tax cuts that was unfunded, unaudited, regressive, and ill timed.

The U.K. political drama will have ripple effects in the U.S.. Britain's Former Prime Minister Liz Truss addresses the media. ... Queen Elizabeth II lasted more ...

After falling to parity with the U.S. The plans, announced Sept. Given Johnson’s ability to dominate the media and charm his colleagues, his chances are likely to increase as the race wears on. The reign of Elizabeth Truss lasted less than seven weeks. Back then, Johnson was derided as an unethical liar by many of his colleagues, senior civil servants and the broader public. The so-called “special relationship” between the U.S. Unlike Truss, bank Governor Andrew Bailey still has his job. Getting there would require the request of more than 100 MPs. Queen Elizabeth II lasted more than seven decades in the job. If more than two candidates reach that threshold, then Conservative Party members would pick their preferred prime minister. You likely didn’t appreciate the balance you saw. Have you been checking your 401k balance lately?