Liz Truss quits; floundering economy plunges UK into political crisis

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By Manish Anand

New Delhi, October 20: The British Prime Minister Liz Truss on Thursday quit amid sinking economy after her ‘Mini Budget’ wrecked the bond and the equity market in the country. Her resignation came 45 days after he had become Prime Minister of the UK.

Exit of Truss became imminent as she could not face the British Parliament in the recent days after her ‘Mini Budget’ ruined the capital market, smashing her and the ruling party’s endorsements.

Truss told reporters at the 10, Downing Street that she could not deliver the mandate that she was elected for. The chain of events kicked off with her sacking of the chancellor of exchequer Kwasi Kwarteng. But the action failed to buy peace in Parliament, as the administrative experience of Prime Minister was exposed. The British MPs alleged in Parliament that she had been hiding under the desk.

“Given the situation, I cannot carry out the mandate for which I was elected,” said Truss. Before her announcement of the resignation, the British Prime Minister had even said that “she is a fighter and not a quitter”.

But Truss later became aware that she was caught in a chain of events that she had no control, as he ministerial colleague Suella Braverman quit, which reminded the way the ministers had started the reesignations from the Boris Johnson Cabinet, which led to his eventual exit. The Truss government was floundering on all fronts, as besides wrecking the economy, they also raised a question over the signing of the India-UK Free Trade Agreement by raising the question over the mobility of the migrants issue, which is of key interest for New Delhi.

Rishi Sunak who had lost to Truss will again be in the fray even while Tory MPs are of the views that Johnson was removed unjustifiably. Truss began her stint with 10-day mourning after the British Queen passed away. Now that she leaves the office, the UK is caught in the worst economic crisis, marked by record vacancies and also lowest unemployment. The energy crisis in the wake of the Russian invasion of Ukraine is wrecking the political stability of several European countries, and the UK may be the first to pay the overt political cost, while there is equally strong heat on the French and German streets.

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