United Kingdom: 4 points to understand crisis that threatens the post of prime minister

Liz Truss speaking
photo caption,

Liz Truss has denied that she will resign

Just over a month after taking power, UK Prime Minister Liz Truss faces her first major government crisis.

The announcement, made three weeks ago, of a fiscal plan that provided for a series of rate and tax cuts provoked a broad negative response from the markets and led to the resignation on Friday (14/10) of Finance Minister Kwasi Kwarteng.

In a brief speech after a day of many uncertainties, during which the resignation of the prime minister herself was up for debate, Truss reaffirmed that the government would go back on implementing the plan, admitting that “parts of our mini-budget went further and faster” than the markets expected.

But she insisted she would remain prime minister to fulfill her “mission” of growing the economy.

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