Liz Truss’s History of U-Turn as Prime Minister After a Series of Reversals

Prime Minister Liz Truss is not the first politician to back down and he will no doubt not be the last.

But it’s fair to say that his post as prime minister did not have an entirely pleasant start, with much criticism of Chancellor Quasi Quarteng’s so-called “mini-budget”, a backlash from the worlds of markets, which ultimately forced him to be removed from the Treasury. After just 40 days and being replaced by Jeremy Hunt.

A little over a month into the job, let’s look at some of the abrupt changes Ms. Truss, a former Liberal Democrat, had to make – and was forced to make before she even became prime minister.

Tax cuts for the rich

Ms. Truss made her first major U-turn as Prime Minister when it was announced that the government would not pursue its plan to eliminate the highest tax rate for the wealthy.

Mr. Quarteng risks facing the threat of a conservative rebellion at the Conservative Party convention in Birmingham on October 3 and after a fiery nomination day.

In a statement posted on his Twitter account, Mr. Quarteng said the policy was removed because it had become a “distraction” from what he claimed was otherwise a development plan that would create a “more prosperous” one.

“It is clear that the abolition of the 45p tax rate has become a distraction from our core mission of addressing the challenges our country faces,” Quarteng said.

The fate of political parties changes in the April elections

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“Consequently, I declare that we will not eliminate the 45 pence tax rate.”

The U-turn was followed by conservative elder Michael Gove, former Secretary of Updates and former Secretary of Transportation Grant Shapps who voiced their opposition.

medium-term financial plan

Another government turnaround occurred on October 10, when Quarteng said he was postponing the date to set his “medium-term” financial plan.

The Chancellor was under pressure to set out his plans more clearly after the disastrous mini-budget in September, which plunged the value of the pound and wreaked havoc in the markets.

Quarteng also said he would anticipate the publication of the Bureau of Budgetary Responsibility Prediction from November 23 to October 31 – Halloween – a rarely sensible date for politicians to pick the headlines. The announcements are made ahead of the open goal presented at

In a letter to Municipal Treasury Committee chairman Mel Stride, the Chancellor said he hoped “this little extra time is acceptable.”

This concession effectively represented Mr. Quarteng’s triple turnaround, with the Chancellor having already offered to change the date of his statement on two other occasions.

refund of corporation tax

Ms. Truss was forced to recall Mr. Quarteng from a visit to the IMF in Washington, DC on Friday, October 14, with former health minister Jeremy Hunt before taking the podium in Downing Street to fire him to announce their replacement. You announce another scandalous turnaround.

Ms. Truss confirms the U-turn of the Downing Street corporation tax

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Revealing that businesses would now see a corporate tax hike from 19% to 25%, which he and his former chancellor have tried to sacrifice in the interest of continuing their stubborn determination with “growth,” Ms Truss said. acknowledged that his program had stunned investors. , stating that the plan “went ahead and faster than the markets expected”.

The Prime Minister insisted that he still wanted to build a “high-growth” economy, but admitted rather grimly: “The way we do our jobs must change.”

After answering just four questions from the assembled lobby reporters, most of which concerned her own future, she remained silent.

A strong demonstration of Extinction Rebellion could be heard outside the streets of Westminster.

basic tax cancellation rate

After his appointment as chancellor on Friday, Mr. Hunt entered the fray the following Monday, when he cut tax cuts initiated by his Mr. Quarteng during an emergency declaration he had spent two years on home energy. He has drastically withdrawn his support for the accounts. six months.

Mr. Hunt said he would abandon plans to reduce the base tax rate to 1 pence, which was to be brought forward in April, and that it would remain at 20 pence per pound unless the country could afford to reduce it.

Quarteng’s promised dividend tax cut will also come with tax-free purchases for foreign tourists, a moratorium on alcohol taxes, and a relaxation of IR35 rules for self-employed workers.

Hunt said the fiscal measure alone would lead to £ 32bn, after economists estimated Ms Truss’s government faced a £ 60bn black hole in British public finances.

Penny Mordaunt cover for Liz Truss in the House of Commons shipping box

(AFP / GETTY)

After Ms. Truss’s economic package was almost completely scrapped, the entire strength of her administration, Mr. Hunt also found himself head of the UK government, the prime minister also in front of the Commons this afternoon – the . Wanting to answer an important question to appear. by the Labor Party, allowing Penny Mordant to take her place.

Incidentally, Ms. Mordant seemed much more of a leader, as she rejected hostile questions from opposition lawmakers than Ms. Truss.

“Documents” to meet the cost of living

First, during her successful campaign for Tory leadership, Truss said she would not give “handouts” to help people with rising energy bills when she took office.

She said she would try to help families but would focus on tax cuts, she said The Financial Times: “The way I do things is conservatively to reduce the tax burden, not distribute handouts.”

Critics say tax cuts won’t help those most in need, as many people with the lowest incomes already pay very little tax.

Energy bills are rising for millions of people in the UK

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Following this, a former rival, who has since become one of the prime minister’s friendliest supporters, said on television that his remarks had been “misinterpreted”.

Mordaunt said the leader “makes a common point about the virtues of allowing people to keep more than they earn.”

“This does not rule out any future help. Indeed, the reason they are presenting an emergency budget is to address some of these issues, “she said.

Salary cut outside London

The shift in approach comes just a week after the truce candidate was forced into an elaborate U-turn on his plan to cut public sector wages outside London.

His election team asked political reporters to issue a press release saying they would set up a “regional wage commission” to cut the wages of public sector workers outside the capital.

Ms. Truss previously wanted to cut wages outside of South East England

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This will save money that can be used for tax deduction, he said. The lead also said that wage cuts could be beneficial as the private sector struggles to compete with public sector wages.

He said the figure would save £ 8.8 billion in wages, a figure that could only be achieved by cutting public sector salaries, including nurses and teachers, rather than officials.

Ms. Truss herself said on TV that her policy had been “twisted” and intended to apply only to civil servants. She said she wouldn’t carry out the plan.

Protection of the British steel industry

Such reversals aren’t limited to Ms. Truss’s leadership campaign – she also has a habit of reversing policies in previous roles once the implications have become clear.

As Secretary of International Trade, he planned a major reduction in trade barriers to reduce tariffs on certain types of imported steel.

The UK’s largest steel port under construction in Talbot, South Wales

(Ben Birchall / PA)

But the UK steel industry has warned that this approach will cost thousands of jobs and could mean £ 100 million in lost sales to support the domestic industry.

The plans failed after losing in a government split with then trade secretary Quarteng, who was in favor of greater security.

abolish the monarchy

Conservative leaders have also changed their minds on some fundamental issues: Truss, for example, had previously advocated for the abolition of the monarchy.

In 1994, a 19-year-old activist told a Liberal Democratic Party congress: “We don’t believe that people are born to rule.

Mrs Truss meets King Charles III at Buckingham Palace

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Fast forward three decades, and in July of this year she said she “almost immediately” regretted her speech.

Ms. Truss was an active member of the Lib Dems before joining the Tories in 1996.

Brexit: to stay from

Ms Truss campaigned for Britain to stay in the EU in 2016 but now says she regrets keeping her vote.

Ms. Truss at an event organized by the UK’s Stronger in Europe campaign in 2016

(Getty)

Far from regretting the outcome of the referendum, he now says he disagrees with his previous position.

During a recent run for Tory leadership, he said: “I fully accept the choice the British people have made.

“I was wrong and I am willing to admit I was wrong. Portions of bad luck didn’t happen and instead we actually discovered new opportunities.

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