liz truss‘ The first full week as British Prime Minister has not been easy. It began with the pound falling to its lowest level in decades following his government’s move. small budget last Friday. It ended with a meeting with Britain’s independent financial forecaster and explaining himself after a week of economic chaos.
Later this week, she will travel to Birmingham to attend her Conservative Party’s annual convention, a meeting that could become a defining moment in her premiership.
His party is badly divided. Since becoming leader, poll ratings have plummeted compared to the disgraced leadership of Boris Johnson. Conservative members of parliament fear combining tax cuts with heavy public spending to help people deal with energy bills, rising inflation, rising interest rates and a falling pound would make winning the next general election impossible.
Even her supporters say privately that they support the tax cut, but communication has been frightening and they fear she will never recover from her disastrous start. Many are comparing it to Black Wednesday in 1992, when sterling crashed enough that the UK had to exit the European exchange rate mechanism. Then-Prime Minister John Major never recovered from the crisis and, despite economic recovery, lost the next election in 1997.
For now, no one expects the government to reverse its policy. “They are stuck with it. The point of radical policy that shakes market confidence is that U-turning creates even more volatility and will not restore market confidence,” says a Conservative MP.
Aside from how it might seem like a U-turn to outsiders, the more important reason Truss sticks to her guns is that she honestly believes her economic plan is the right thing for Britain. His supporters argue that anemic has increased over the years in the UK. He believes that a more competitive tax system and new regulatory system is the best way to encourage investment, create jobs and grow the economy.
In itself, this is not a controversial idea. Some fear that the combination of tax cuts and borrowing for public spending is a disastrous combination of policies that have been poorly communicated at the worst possible times.
“We look like reckless gamblers who only care about people who can afford to lose gambling,” a former Conservative minister told CNN earlier this week. “My fear is that this is the final roll of the dice to win the next election that has already been turned.”
The idea that it is a gamble, the moment of Truss’s kitchen sinking, to do something drastic and win the next election, is shared by other conservatives.
However, they are concerned that these policies are framed by politicians who spend too much time in Westminster talking to people who agree with them but are concerned about the average electorate.
“Ordinary people are seeing their mortgages grow at a rate that exceeds any government support for money saved through cutting energy bills or taxes,” says another former minister. “The point of the madness is that Boris [Johnson] With the electoral alliance secured a majority of 80 seats which still exists today. It was not necessary to dismantle the policies of his government and reinvent the wheel. ,
The mood for going to the Conservative Party convention is undeniably bleak. Not everyone thinks that the next election is already lost, but most people think that the current situation is a mess that needs to be resolved very quickly.
“They need to explain their fiscal rules, cut spending on white elephant projects and don’t feel they are doing everything in such a hurry,” says a Conservative lawmaker who supported Truss’s leadership campaign.
Another Truss colleague says: “The problem with Liz and Quasi” [Kwarteng, the finance minister] Are they both very intelligent and think six steps ahead of everyone else. They need to take the time to explain their actions more clearly and give people the time to understand what they are trying to do.”
And his critics also believe there are ways to change that without losing face. “They could have kept the policies in place but implemented them more slowly. Kick some of the stuff in the tall grass to not have such an immediate effect.”
There is also a real possibility that his plans work. Sterling could recover, the economy could grow against the odds and it could have some real victories in the next election, which is still more than two years away.
The question that conservatives are asking is, does Truss have the political talent, both in himself and the team around him, to win over the masses?
His team is full of young people who are undeniably skilled, but in some cases lack the experience you would typically associate with people who work for the leader of a country, many conservatives believe. . There is also a feeling that the third change in leaders in six years has been burnt out by talent.
There’s still time for the truss to turn things around. But she is losing support on her side, and there is already speculation that Conservative MPs are thinking of ways to get rid of her, which is unbelievable just weeks after her premiership.
The official opposition Labor Party held its convention earlier this week, and the mood was one of cautious optimism. From corporate PR to party workers, almost everyone there felt it was on the verge of power.
In the coming week, Truss needs to address his party loyalists and give them something to be optimistic about. If she doesn’t, a sense of inevitability that power is shifting away from conservatives could become a self-fulfilling prophecy that drives the party into the woods after more than a decade at the helm of British politics.
Credit : www.cnn.com