Selected by Tory party members — not elected by UK voters — Liz Truss’ “bold plan to cut taxes and grow our economy (sic)” combined illusion, duplicity, arrogance and contempt for the vast majority of Brits she doesn’t give a damn about.
In office since September 6, her wrecking ball agenda has been all about serving Britain’s ruling class and monied interests at the expense of all others.
In early October, YouGov polling data showed her public approval near-rock-bottom at 14%, the pollster saying:
“Liz Truss is now less popular than (widely disliked and ousted) Boris Johnson ever was.”
Her “popularity plummeted following a tumultuous week in politics, leaving her less well-liked than other former party leaders at their lowest ebb.”
With her at the helm, public approval of Tories is “20%…down from 28% in September.”
In response to her announced “mini-budget” tax cuts for rich Brits last month, the pound sterling plunged to an all-time low — while interest rates on UK bonds rose sharply.
Bank of England intervention by large-scale Gilt purchases was undertaken to prevent the insolvency of UK pension funds.
In early October, Truss scrapped her disastrous tax cut plan, sacking her chancellor of the exchequer, Kwasi Kwarteng, days later.
Despite Tory rules in place to prevent a leadership challenge until after one year in office, Truss is widely despised enough by party MPs and the UK public that scrapping them may be approved to replace her as PM in the coming days.
According to the London Observer on Saturday:
Senior Tories intend to hold “rescue mission” talks this week.
They’ll discuss Truss’ “swift removal (from office) after new chancellor, Jeremy Hunt, dramatically (scrapped) her (disastrous) economic package and signaled a new era of austerity,” adding:
“A group of senior MPs will meet on Monday to discuss (Truss’) future…”
“(S)ome (want) her to resign within days…”
“(O)thers (say she’s) now in office but not in control.”
“Some are threatening to publicly call on Truss to stand down after the implosion of her tax-cutting program.”
Support for her “evaporat(ed)” among cabinet ministers.
According to a former Tory official:
“She is in the departure lounge now and she knows that.”
“It is a case now of whether she takes part in the process and goes to some extent on her own terms, or whether she tries to resist and is forced out.”
Another “veteran Tory” said the following last week:
“She has to find the courage to walk away from this, to do it in an orderly fashion – and be thanked for having done so,” adding:
“If I were her, I would just say, ‘Look, it’s not worked and it’s not right for me to continue.’ ”
“I think that she would probably be best advised to sit down with (Tory 1922 Committee chairman) Graham Brady and discuss how we can have a replacement in a day or two.”
According to another Tory MP:
“To be perfectly frank, I think that if there were a delegation to Liz Truss, then she would not put up much of a battle to stop it.”
And another Tory MP said it “would be grotesque” to let her appear at the next PM’s questions session on October 19 “after a series of humiliating U-turns, the sacking of ally Kwasi Kwarteng and abandonment of her economic prospectus.”
Former ministers and senior MPs called for replacing her with joint Rishi Sunak/Penny Mordaunt leadership.
Things are “moving” in this direction.
Repudiating Truss’ mini-budget, newly appointed chancellor Hunt said some taxes will rise while public spending is curtailed, adding:
“There are going to be no easy choices.”
“It’s going to be very difficult.”
“Lots of the things that people are hoping for won’t happen.”
At the same time, he called for being “very sensitive to the needs” of poor Brits (sic).
Separately on Friday, Bank of England governor, Andrew Bailey, warned that “inflationary pressure (requires a) stronger response, meaning more interest rate hikes.
Separately on Sunday, the Observer said the following:
“Never has failure been so self-inflicted, so absolute and so richly deserved.”
Truss’ neoliberal extremism proved disastrous for Britain’s economy and vast majority of its people.
Her days in office likely numbered, a new election may follow ahead — Labor most likely to end a dozen years of Tory leadership since May 2010.
Hold the cheers.
The choice between the party of Tony Blair and Gordon Brown v. Tories amounts to choosing between the devil and deep blue sea.
Democracy throughout the West exists in fantasy form alone, the real thing virtually banned.
And wherever hegemon USA goes, vassal state Britain is sure to follow — at the expense of peace, equity, justice and compliance with international law.
That’s the dismal state of things throughout the US-dominated West under whatever leadership is empowered.