UK announces economic change course, but PM remains tightrope

Britain’s new finance minister, Jeremy Hunt, acknowledged on Saturday the government’s “mistakes” and warned that he would make “very difficult decisions” in the face of the country’s crisis, A change of course may not be enough for Prime Minister Liz Truss to save her job.

“Truss is fighting for his survival,” Saturday’s headline timeswho writes it “Even in Downing Street, senior officials believe it is only a matter of time before she is forced to leave.”

“Truss Holds Power”, posted on the cover Daily Telegraph. According to the “Conservative” newspaper, the “Conservative” deputies continue to plot to leave the head of the executive authority as soon as possible.

What else could she (and all of us) take? daily Mail, Which considers that on Friday, “chaos, turmoil and changes in attitudes have reached unprecedented levels.”

This Saturday, the new minister, Hunt, admitted to making “mistakes” by Prime Minister Liz Truss and her predecessor in the cabinet, Kwasi Quarting, who had been sacked the day before.

“The prime minister has recognized that and that’s why I’m here,” he added in his first public comments since his appointment the day before.

tax increase

Hunt, a former foreign and health secretary and confidant of Rishi Sunak – Truss’ opponent in the Reach Downing Street campaign – should take charge of the budget announced on September 23. by his predecessor and very poorly received by the markets, a large part of the Conservative Party and the population.

“What I can do is show that we can fund our projects in terms of taxation and spending and that will require very difficult decisions,” warned Hunt, who appears prepared to abandon many of the prime minister’s campaign promises.

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Hunt declared, “Some taxes will not be reduced as quickly as people want. Some will increase.”

The Conservative Party leader, who has been in power for just over a month, has finally agreed to raise the corporate tax, a measure by the previous government that was determined to abolish it.

Two weeks ago, he had already had to forgo tax cuts for the richest families in the face of anxiety caused by the measure, even among members of his party caucus.

trustless

Hunt’s appointment should reassure markets and the Conservative Party.

One of his first actions as a new minister was to meet with Andrew Bailey, the governor of the Bank of England, who had to act urgently to calm markets after the economic plan was presented.

Hunt is now emerging as the government’s strongman, according to British media, while Truss is greatly weakened by changes in his position. Nor was he convincing at his Friday press conference.

for him financial timesTruss sacrificed Quarting “in an effort to save” his head in Downing Street but “the only thing that unites the (conservative) party is the mistrust of Truss.”

On Friday, the prime minister dodged questions about her personal fate, insisting she remained “absolutely determined” to put forward her policy to support growth.

“I feel totally cheated and cheated,” Deputy Conservative Christopher Chubb told the BBC, estimating that the leader appeared on Friday “in complete opposition to everything she supported in her election”.

But in the Conservative Party the specter of a horrific defeat looms if they call a general election, with the Labor opposition leading in opinion polls.

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Labor leader Keir Starmer criticized the “appalling chaos” created by the Conservative government on Saturday.

He stressed that “all the difficulties facing our country today are its responsibility.”

With information from Agence France-Presse. *

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