Britain’s Prime Minister Liz Truss might not remain in the position for long. The sacking of chancellor Kwasi Kwarteng and controversial tax cut plans have led to anger among people.
The country’s new finance minister Jeremy Hunt stated various reasons behind the speculations going on. He cited the government’s mistakes around its controversial tax cut plans fueled troubles in financial markets that led to removal of Kwarteng.
“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,” Hunt told a media company on Saturday.
“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. The prime minister has recognized that, that’s why I’m here,” he further said.
There are betting agencies that have started bets on who will replace truss. There are reports of Rishi Sunak replacing her. The Liz Truss administration’s poor handling of the nation’s economy has resulted in a considerable increase in support for the former chancellor of the exchequer in recent weeks. Rishi Sunak has also been referred to as “prescient” since he foresaw the market repercussions that Liz Truss’s ideas may cause throughout the competition and foresaw it.
James Cleverly, the foreign secretary, and Kemi Badenoch, the secretary of international trade, are just a couple of the cabinet members that could replace Liz Truss. Ben Wallace, the secretary of defense, and House leader Penny Mordaunt are also included.
