Boris Johnson bows out as British PM, Liz Truss to take over

LONDON: Boris Johnson bow as British prime minister on Tuesday, ending a tumultuous three years in office and leaving it to a successor Liz Truss a list of difficult problems to solve.
Johnson, who was forced out of his job by his own Conservative Party because of a series of scandals, has called for the country to come together and support his successor.
After giving a farewell address outside Downing Street, he left London for Scotland and submitted his resignation to Queen Elizabeth. Truss will also go to the monarch’s castle in northeastern Scotland and be asked to form a government.
Truss, 47, has been tasked with leading Britain through a long recession looming and an energy crisis threatening the finances of millions of households and businesses.
Her plan to boost the economy through tax cuts while providing tens of billions of pounds to offset energy costs has roiled financial markets, prompting investors to dump the pound. UK and government bonds.
“This is it,” Johnson said in his speech. “What I say to my Conservative Party colleagues, it’s time for politics to end, friends. It’s time for all of us to stand behind Liz Truss and her team and her program.”
Truss will be the fourth Conservative prime minister in six years. She faces the latest crisis that leaves Britain politically weaker than many of her predecessors after she defeated rival Rishi Sunak in a Conservative Party vote by a tighter margin than expected. opinion, and with many lawmakers initially supporting her opponent.
She has promised to take “bold action” to get the country through tough times, including tax cuts despite warnings that it would exacerbate Britain’s inflation rate, which stood at 10.1 %, the highest of any leading economy.
Johnson, who fought to stay in office to the end, used his departure speech to boast of his successes, including his initial vaccine program during the coronavirus pandemic and his support for the coronavirus pandemic. his early aid to Ukraine in the battle against Russia.
He also lists “getting Brexit done” as one of his main achievements, although current polls show a majority of people think leaving the European Union was a mistake, while Truss pursued a belligerent approach to Brussels that could eventually lead to a trade war.
Change the rules
Johnson’s speech was full of pomp and banter from a man once loved by the British public but also loathed by many. He has refused to show any remorse for the scandals that have brought him down, including the “Partygate” – a series of goofy gatherings in Downing Street while the country was under lockdown. spread Covid-19 for which he was fined by the police.
Refusing to rule out a return to the top job one day, he also said he is still bruised by the nature of his departure.
“The torch will eventually pass to a new Conservative leader,” he said. “The baton will be awarded in an unexpected relay race. They changed the rules midway but don’t mind that for now.”
Britain, under Conservative rule since 2010, has been in crisis after crisis in recent years and now has the prospect of a protracted recession, and inflation. continued to rise, plus the pound weakened.
The most pressing issue is the energy emergency, which could last for several years, potentially draining households’ savings and the future of smaller businesses, which still weigh heavily. by loans from the Covid era.
Household energy bills are expected to rise 80 percent in October, but a source familiar with the situation told Reuters that Truss could freeze the bills in a plan that could go as high as that. £100 billion, surpassing Covid-19 furlough plan.
It is not clear how the UK will pay the support and if it could involve loans being repaid over many years.
Britain’s public finances also remain weighed down by massive government coronavirus spending. Public debt as a share of economic output is not far from 100%, up from about 80% before the pandemic.

Source link


News5h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button