An obvious fall guy. Rather shameful maneuver.
Do you think the pound would have plummeted regardless?
Regardless of what? No mini-budget? A different mini-budget? A different PM?
I think your question is too broad to answer.
Liz Truss resigns as UK prime minister
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Re: Liz Truss resigns as UK prime minister
#32Can anyone explain why??
She and her chancellor announced a series of tax cuts at a time when inflation is running at 10%. Even worse, they sidestepped the usual processes on fiscal responsibility and declined to explain how the tax cuts would be funded. The bonds market then panicked as a result, with the Bank of England having to step in and bail the market out to prevent gilts from entering a death spiral, which would have bankrupted pension funds.
Since then, she's been a dead woman walking.
Re: Liz Truss resigns as UK prime minister
#33An obvious fall guy. Rather shameful maneuver.
Perhaps for this ban on fracking vote, but the economic moves were her entire platform
Re: Liz Truss resigns as UK prime minister
#34Tories should have gone with Rishi.
Re: Liz Truss resigns as UK prime minister
#35Earlier quoted context omitted.
Can you elaborate for those of us not hip enough for this meme(??)?
Someone set up youtube stream with a picture of Liz Truss and a lettuce. People in the chat could discuss what was likely to last longer, the lettuce or Liz Truss.
"Someone" being the Daily Star, a British tabloid
Re: Liz Truss resigns as UK prime minister
#36Re: Liz Truss resigns as UK prime minister
#37Imagine rising to the ranks of prime minister of one of the most influential countries ever and for your legacy to be a head of lettuce out-survived your reign. That the Queen literally died the day after meeting you. Unbelievable.
Yep, she was so reprehensible the queen died! And then off that great distraction she did the job that baldy she almost tanked the world economy. Now falling on her sword and claiming the shortest tenure in British history.
I would feel very poorly about the tory gang in London if I were say from the North Irish area or Welsh, or Sottish at the moment.
This isn't good for European stability either. Hopefully the money and support continues to flow without issue to Ukraine.
Re: Liz Truss resigns as UK prime minister
#38Will the pound recover now?
Re: Liz Truss resigns as UK prime minister
#39Can anyone explain why??
A few things:
Her “mini budget” immediately crashed the economy, after she ignored all the advice saying it was a bad idea and would crash the economy.
Her party, the Conservatives, are in such a divided and shambolic state there is no one in the party who can command the confidence of the majority.
Re: Liz Truss resigns as UK prime minister
#40Imagine rising to the ranks of prime minister of one of the most influential countries ever and for your legacy to be a head of lettuce out-survived your reign. That the Queen literally died the day after meeting you. Unbelievable.
And the King was already fed up with her as well: https://www.theguardian.com/uk-news/2022/oct/13/king-charles...