Less than six weeks in office as British Prime Minister was enough for Liz Truss to fight for her political survival: according to a newspaper article, she could face a no-confidence vote this week. More than 100 MPs from the ruling Conservative Party (“Tories”) are ready to overthrow Truss, reports the newspaper Daily mail citing informed circles. Under current conservative rules, Truss’s office is protected by a one-year immunity clause. But the Tories are currently in open revolt and on Sunday evening three MPs from the party publicly called for their resignations. Many others said they would write to Graham Brady, chairman of the backbench committee, asking him to change the party’s rules to allow the prime minister a vote of no confidence. Truss has “undermined Britain’s credibility as a reliable, responsible and leading economic power and divided our party in a potentially irreparable way,” said Tory MP Jamie Wallis in his letter to the Prime Minister calling for his resignation. “They no longer have the confidence of the country or the faction.”
Votes against Truss in his own party are also rising as the Tories have slipped behind the Labor Party in record-breaking polls and an electoral debacle is imminent. Supporters of Rishi Sunak, who finished second behind Truss in the recent Tory leadership election, stepped up efforts over the weekend to garner support for his installation.
Hunt outlined a radically different fiscal policy approach
However, Graham Brady should resist the call for a rule change, arguing that Truss and newly appointed Treasury Secretary Jeremy Hunt deserve a chance. Hunt had already outlined a radically different fiscal policy approach over the weekend: taxes should have been raised and spending reduced. The pound fell sharply again on Friday afternoon following an unconvincing press conference from Truss. On Monday, however, it rose again at the start of Asian trading, likely as investors speculated that more Truss announcements could be canceled. Truss will host a Cabinet reception at 10 Downing Street on Monday evening to prepare a medium-term financial plan that Hunt will announce on October 31, according to an official familiar with the matter.
However, according to a senior conservative collaborator, who wished to remain anonymous, Truss could go on for weeks or months as his political platform is turned upside down and Hunt effectively runs the show. Hunt plans to announce the financial plan on October 31st. Whether Truss will be in charge by Halloween remains to be seen. Their fate is now in the hands of the financial markets and their backbenchers.