Liz Truss will remain as Prime Minister until a successor has been chosen within a week.
prime minister just six weeks after she was appointed, brought down by her economic program that sent shockwaves through the markets and divided her Conservative Party.Following are latest events, comments and context:Truss said the Conservative party she heads would hold a leadership election to be completed within a week.
Investors reined in bets of a full percentage-point interest rate increase by the Bank of England next month, after a top official said it remained to be seen whether rates rise as sharply as the market has been expecting. The sell-off began after then-new finance minister Kwasi Kwarteng’s tax-cut announcement on September 23.
on Monday, October 17, then scrapped “nearly all” of Truss and Kwarteng’s economic plan and scaled back her vast energy support scheme, announced in September, in a historic U-turn to try restore investor confidence.
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