01 Dec 2022, 1:03 AM (GMT)

COVID-19 Global Stats

648,157,391 Total Cases
6,640,934 Death Cases
626,037,376 Recovered Cases
HeadlinesInternational PoliticsNews

UK Prime Minister,  Liz Truss Resigns

United Kingdom Prime Minister Liz Truss has resigned following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own Conservative Party.

Truss was appointed prime minister on Sept. 6, just two days before Queen Elizabeth II passed away after 70 years on the throne.

On Sept. 23, Truss’ finance minister, Kwasi Kwarteng, announced a so-called “mini-budget” which began a turbulent period for UK bond markets which balked at the debt-funded tax cuts he put forward.

Most of the policies were reversed three weeks later by the second finance minister, Jeremy Hunt.

Truss beat Rishi Sunak to become leader of the Conservative Party following the resignation of Boris Johnson on July 7. 

Sunak is now one of the favorites to replace Truss, along with Hunt, another leadership contender Penny Mordaunt, Defense Minister Ben Wallace and former Prime Minister Boris Johnson.

Nadula Tax Return Season Sale under $200 wigs, beginner friendly & quick install

Advertisements

Lagos Post Online

Publisher, Lagos Post Online, Lagos Post is an online publication that seeks to provide fair, unbiased, credible, balanced and useful information about Corporate Organisations, Governments and the General Public by breaking news in Business, Politics, Arts, Entertainment, Culture, and Sports in Nigeria, Africa and the World. As a global news portal, we continually stand for responsible journalism and sound media practice. Mobile: +238025837037 Email: lagospostng@gmail.com

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker