U.K, Oct 20: Liz Truss resigned as the Prime Minister of Britain on Thursday as the political crisis worsened in the country.
Six weeks into the job, Truss has been buffeted by a bond market rout, suffered the lowest approval ratings of a British leader in decades, abandoned almost all of her policy programme and has now lost her interior minister who quit on Wednesday, less than a week after she fired her finance minister.
Truss has been fighting for her political survival since Sept. 23 when her finance minister at the time, Kwasi Kwarteng, announced a “mini-budget” of vast, unfunded tax cuts that sent shockwaves through financial markets.
British borrowing costs have soared, threatening to hit the housing market and aggravate a cost-of-living crisis. The government’s subsequent reversal of those measures has added to the challenge for Truss to stay in Downing Street an impression deepened by the chaotic scenes in parliament on Wednesday.
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