Financial Associated Press, October 18 (Editor Malan) On Monday, Truss and Hunter attended the Congress. While she struggled to get along with Hunter, body language experts said she was at times as still as a wax figure in meetings, a far cry from the chatter and laughter she had with Kwarten, the former finance minister.
A few weeks ago, she was complacent, and she and like-minded partners planned to give the British economy a shot in the arm, creating her own economic myth.
But a few weeks later, Truss was deeply criticized for “stepping down”, and even an apology could not stop the multi-party crusade. The Treasurer around her slashed her economic policy and looked more like a qualified policy maker.
Andrew Mitchell, a senior Conservative official under Cameron, said the prime minister had only two weeks to save herself and that if Parliament made it clear that a replacement was needed, the impeachment mechanics and technical issues would no longer matter and she would be replaced.
And after a series of candidates were discussed over and over again, a new candidate suddenly appeared, and more and more Conservatives found that the new Chancellor of the Exchequer, Hunter, might be a good choice.
The veiled slap in the face of the new finance minister
On Monday, Truss’ newly appointed Chancellor of the Exchequer, Jeremy Hunt, unveiled his new plan to scrap nearly all tax cuts promised by Truss.
Financial markets also appear to be happy with the proposal. After the statement was issued, the pound rose 1.6% against the dollar on Monday, the UK 10-year bond yield fell to 3.97% from 4.327% last Friday, and the 30-year bond yield also fell 48 basis points.
Economists say the new fiscal policy will significantly reduce the need for interest rate hikes.
Paul Johnson, director of the Institute for Fiscal Studies think tank, said while it was not enough to undo the damage done over the past few weeks, it was a step in the right direction.
The market’s welcome to the new finance minister’s plan happened to confirm its dissatisfaction with Truss on the side. The louder the cheers, the more it represents the failure of Tesla Economics.
Pseudo Thatcher style When Truss ran for prime minister, she deliberately moved closer to the famous British “Iron Lady” Thatcher. It is a pity that it is difficult to paint the skin, and there has been a chasm-like gap between Truss and Thatcher.
Thatcher once said in an interview in his later years that as a scientist, once you achieve your goals, your method becomes science; as a businessman, you can also achieve your goals in different ways, sometimes you can win, sometimes you can lose; You have only one way to go home, you can only win, you can’t lose.
Throughout her political career, Truss seems to be completely out of line with the word “tough.” Her U-turn-style policy attitude did not happen once or twice.
Take Brexit, for example, it took her less than two or three years to go from a hard-line “Remainer” to a powerful Brexit aide under Johnson.
And this time the mini-budget is a repeat of history. This kind of frequent rioting on politicians is obviously very fatal, because her uncertainty will directly lead the entire UK into an unreliable state.
This is the real reason why there are now rising opposition in the British political circles, calling for the removal of the prime minister.
The best choice for the prime minister The Conservative Party does not want to repeat the vulgar drama of the prime minister’s election, and the vacuum period of the power transfer process is also very risky for the current UK. This makes Hunt, who already has ministerial authority and is initially recognized by the financial market, hot.
Hunt himself has held several positions in the cabinet, including foreign secretary and health minister, and is seen as a centrist in the Conservative Party, an experienced “safe hand” capable of leading the government through the current crisis.
What’s more interesting is that Hunter, once a staunch supporter of Tras’ rival Sunak, is financially closer to Sunak. Sunak was previously the new prime minister candidate that Conservative MPs in the British Parliament hoped to choose.
Looking further ahead, Hunter also parted ways with Johnson in the 2019 Conservative Party campaign, calling himself a no-nonsense, no-nonsense candidate. Although he lost badly at the time, for today’s Britons and the Conservative Party, his attitude is certainly something to cheer about.
A leader who is not as casual as Johnson, not as capricious as Truss, and who has just gained a lot of goodwill in the financial markets, seems to be the best choice for the Conservative Party now.
Previously, some members of the Conservative Party believed that Truss had lost control of the government and now played the role of “shadow prime minister”, and the person who really arranged government affairs was Chancellor of the Exchequer Hunt.
Although this suspicion has attracted rebuttals from many Conservative Party officials including Hunter, it has made many people feel that there is a “play”. .