With former British Prime Minister Liz Truss’ free-market reforms having severely wounded the British economy, a chorus of pundits have claimed that the end of free-market thought is upon us. Who could at this point be so foolhardy as to claim that simply cutting taxes for the rich — and not doing …
Most recent stories in Liz Truss - Liberal Turned Tory, Jury’s In - Disaster For Britain!
The Chaos of British Politics ExplainedCurated byThe Features Desk
In seven weeks, Britain has lived under three prime ministers, of whom only one was elected. In June, Boris Johnson's handling of Conservative Party scandals led to his resignation, forced by a mass exodus of ministers, including his then-finance minister Rishi Sunak. Liz Truss took up the mantle and unveiled a mini-budget that resulted in economic turmoil. Now that Sunak is the new U.K. PM, read about the events that led to his political rise and the tradition involving the monarch.
The pound rose against the dollar and government borrowing costs dipped as the markets reacted to Prime Minister Liz Truss's resignation. Sterling hit $1.13 as Ms Truss made her announcement and rose higher in the afternoon before falling back to $1.12. One analyst said investors were "relieved" by …
What's Next After Truss?Curated byFlipboard UK
Britain's government once again finds itself facing a leadership contest after Liz Truss resigned today, becoming the shortest-serving prime minister in UK history. During her 45-day tenure, she announced the biggest tax cuts in 50 years which tanked the pound and left the economy in turmoil. Now, talk has quickly turned to a replacement, with former rival Rishi Sunak expected to be in the running and speculation rising over the return of scandal-hit ex-PM Boris Johnson. Here's what to expect.