Guardian: UK Conservative Party MPs to discuss future of Prime Minister Liz Truss
High-ranking Conservative Party MPs in Britain will discuss the future of the country’s Prime Minister Liz Truss on Monday, the Guardian newspaper reported.
According to the newspaper, some of the Conservative MPs want Truss to resign within days.
“Some are threatening to publicly call on Truss to resign after the failure of her tax cut program,” the paper wrote.
According to the paper, the meeting is being organized by supporters of Rishi Sunak, who was Trass’ rival in the election for party head and prime minister. It is reported that 15 to 20 former ministers and several other senior members of the Conservative Party in Britain received invitations.
Earlier, former British Treasury chief Kwasi Kwarteng, the author of the scandalous plan to save the U.K. economy, said that he resigned at the request of Prime Minister Liz Truss. On Friday, the British government announced the appointment of Jeremy Hunt to the post.
The British government led by Truss faced a barrage of criticism over a new plan to bolster the economy and fears that the government would increase the size of the national debt to implement it. The plan was introduced in Parliament by Kwasi Kwarteng and involves massive tax cuts. After its announcement, the yield on five-year British government bonds rose to its highest level since 2008 at 4.6%, which means that the demand for debt securities decreased. In this regard, the pound exchange rate fell sharply and during the course of trading fell to a historic low of $1.054 per pound.
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