As Liz Truss Resigns As UK PM Within 45 Days, Here Are 5 Reasons

As Liz Truss Resigns As UK PM Within 45 Days, Here Are 5 Reasons.

Liz Truss has resigned as UK Prime minister in what is described as a dramatic turn of events today after she was forced to take a humiliating U-turn on her planned income tax cut.

In a major turn of political events in Britain, Liz Truss resigned as the Prime Minister of the United Kingdom within 45 days of entering 10 Downing Street.

This is the shortest in Britain’s political history, as her tenure was marked with multiple exits and turns.

UK PM Truss Says She’s ‘Sorry’ For Economic ‘Mistakes’

Here are 5 things that led to Liz Truss’s resignation

[1]. Liz Truss’ first week was marked by unveiling a costly plan to cap the energy household bills, in response to soaring prices due to the Russia-Ukraine war. The plan was eclipsed for 10 days following the death of Queen Elizabeth II.

[2]. Kwasi Kwarteng, the Chancellor of Exchequer in the new UK cabinet, announced a “mini-budget” in September, which detailed the price of the energy scheme for $67 Billion in six months, the unveiling was done but with no measures to raise funds.

[3]. Instead of concrete measures, he announced massive borrowing and new tax cuts for top earners in the UK, leading to the Pound falling and the political fire the UK cabinet experienced. Two days later, Kwarteng vowed “more to come on tax cuts”

[4]. Following criticism and uproar, Liz Truss was forced to take a humiliating U-turn on her planned cut in the top rate of income tax following hurried late-night talks. Kwasi Kwarteng was later fired after 38 days in the office

[5]. The crisis didn’t end for Truss, her Home Minister Suella Baverman quits following a row with Truss and Jeremy Hunt, the finance minister, over immigration, saying that she had “serious concerns” about the government.

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