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Liz Truss to face wretched week at Tory Party conference after mini-budget turmoil | Politics News


Liz Truss will face a bad week at the Tory Party conference following the disastrous response to Kwasi Kwarteng’s small budget cuts.

The Prime Minister arrived in Birmingham on Saturday looking flustered just hours before Another injury poll has been released.

Hopes of being greeted by a host of adoring members may have been dashed as some Tory MPs have questioned whether she will still be Prime Minister at the end of the year.

Nearly two dozen seniors Conservative MPs have told Sky News they will not attend after a volatile week that saw the pound hit a record low against the dollar and the Bank of England stepped in to stem the fall. retirement fund collapse.

Ms Truss and her chancellor have doubled down on their defense of £45bn over unreimbursed tax cuts that have caused economic turmoil, insisting this is necessary for growth .

The Prime Minister on Saturday said “brutal decisions” were needed to spur growth and told the Sunday Telegraph she wanted to “take people with me on this journey”, stressing that the “status quo”. not an option”.

There are concerns that the situation could worsen if the Bank of England is forced to raise interest rates to strengthen the currency and keep inflation low.

A series of polls taken this week have shown a significant drop in popularity for the Tories and a record high for Labor following the small budget.

The latest poll from Opinium shows 55% of voters disapprove of both Ms Truss and Mr Kwarteng while Labor is up 19 points.

And 75% of voters say they have lost control of the economy. When it comes to Tory voters, 71% say they have no control over the economy compared to just 24% who believe they do.

Many of Ms Truss’s own MPs have voiced opposition to her economic plan and Mr Tory Michael Gove, a supporter of Rishi Sunak, is expected to demand that the party change course in eight official appearances at conference.

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Truss arrives at the Tory conference

Senior supporters told The Independent the Prime Minister has a few days’ problems fighting tax and welfare cuts or a riot that could get her kicked out of Downing Street by Christmas.

There are reports of letters to the chairman of the 1922 backbench Committee from MPs calling for a vote of no confidence.

Under current rules, she was safe from a leadership challenge for a year after the election but the 1922 executive could change the rules if demand from Tory MPs was too great.

Read more:

Liz Truss and Tories approval ratings take another hit in new poll
Developed countries request urgent meeting with prime minister

News on Saturday that Mr Kwarteng held a champagne party with hedge fund managers just hours after the small budget was met with skepticism.

A source close to the prime minister denied he had provided privileged information to guests and said: “The government’s ambitions to reduce the tax burden are hardly a state secret.”

Truss needs to be reset if she survives


Sam Coates

Sam Coates

Political Editor-in-Chief

@SamCoatesSky

Liz Truss started her first Conservative Party conference less than a month – 25 days – since becoming leader, all the more remarkable being that 11 days of which were set aside for official mourning for the Queen’s death.

Also notable during that time were the government spending as much as £160bn, Sterling collapsing to its lowest level since 1985, the UK now being threatened with a downgrade by credit rating agencies. A slew of cheaper mortgages have disappeared from the market, the Bank of England has implemented an emergency intervention to save for retirement and the Tories have recorded their worst poll ratings for with YouGov since the company was founded in the late 90s.

Everyone – Tory MPs, institutions, voters looking at the coming economic crisis – is worried.

Truss’ most important job is to let the county and her party know which side she stands on.

That’s why tonight’s story from the Sunday Times about her Prime Minister Kwasi Kwarteng is so damaging.

On the small budget day, where he cut taxes for the richest, he went to a hedge fund party hosted by Andrew Law, the Tory sponsor. 30 sponsors and sponsors were there when he made his way around the top.

I spoke to someone who attended events like this recently. They marvel at how the ordinary Kwarteng spews bold views, capable of moving markets around such events, on topics such as Bank of England governor Andrew Bailey.

Some in the City worry such talk undermines the credibility of the UK’s independent financial institutions, after the OBR watchdog and Treasury expertise have stepped in. Careless talk damages credibility.

Another difficult moment, one of many.

Many Tories think that Liz Truss now needs to reset with her team this week to survive.

‘The worst is yet to come’

Opposition parties have used the opening of the Conservative conference to attack in the Tories, with the SNP arguing that the worst is yet to come.

SNP’s Westminster leader, Ian Blackford, said: “It has been a disastrous first few weeks of her term as prime minister but if the rhetoric from the Tories is to be believed, the worst of this Truss government remains. not happen.”

His comments came after a key Ms Truss ally, Promotion Minister Simon Clarke, signaled that ministers were looking to downsize the state’s overall size along with tax cuts.

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Truss admits ‘some disruption’

And Sir Keir Starmer said it was “unacceptable” that voters nor MPs had any say in the newly announced economic measures.

“The economy is not a laboratory test for the Conservative Party’s craziest scientists,” the Labor leader wrote in the Sunday Telegraph.

“The pain that is about to befall the whole country is the result of a prime minister and a prime minister being married to a disastrous ideology.”

The conference will open today with a tribute to the Queen, but Mr Kwarteng’s speech on Monday and Ms Truss’ closing speech on Wednesday will draw political attention.

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