Facing opposition: PM Truss gasps on economic front,
now people miss Sunak
In Britain, Prime Minister Liz Truss appears to be
gasping on the economic front just three weeks after taking office. The Truss
government's mini budget is proving to be a failure in curbing inflation. Truss
is facing opposition from MPs in his own party.
Some MPs have given an ultimatum that the prime
minister will face a coup if he does not remove finance minister Kwasi
Kwarteng. The session of the British Parliament will begin from October 11. Due to uncontrollable
inflation, people are sharing videos of former finance minister and Indian MP
Rishi Sunak on social media. Most people are upset that the fears expressed
about Truce's economic policies in the debate in the PM race are coming true.
Rishi Niti: Wait and see except for party meetings
Rishi Sunak, who lost the Conservative Party members'
vote in the election for the post of PM, is currently adopting a wait-and-see
policy. Sank has refused to attend the Conservative Party's annual meeting in
October. Sunak has stopped making public statements. He also last tweeted on
September 8. Sunak is believed to
be strategizing with supporters. Because Sunak has the support of more MPs than
Truss. In the final poll of MPs, Sunak received 137 votes from the
Conservative Party while Truss received 113 MP votes.
Sunak's fear which is now proving true
Truss policy of tax cuts and central bank borrowing is
a fairy tale of trusonomics.
Result: The Truss government cut taxes in the mini
budget but gave a 19% tax break to the middle class but up to 45% to the rich.
Strict measures have to be taken to get relief from
inflation. The government has to increase foreign exchange reserves. The
result: It didn't, now the British pound is at a 50-year low against the
dollar. The central bank has to pay the debt.
