As the UK continues to face an economic crisis, a recent poll showed newly elected Prime Minister Liz Truss is now losing the confidence of the people and her party leaders. An Opinium poll, released on the eve of the Tory conference, found that 71% of those who backed the Tories in the last general election believed Truss and Chancellor of the Exchequer Kwasi Kwarteng had lost the economic control. Furthermore, he revealed that Truss’ rating is now lower than that of his predecessor Boris Johnson, who faced serious allegations of attending drinking parties as the country followed strict lockdown standards.
Some Tory MPs even demanded Truss be removed from No 10 within a month of taking charge of the country. The poll also found Labor had extended its lead by 14 percentage points in the past week alone, from 5 points to 19 points. In addition, several senior leaders have warned that recent moves in the tax system will take years to tarnish the reputation of the Conservatives. “The Truss government threw away the reputation of the Conservative parties for sound management of public finances in its first month in office. It will take years to undo all the damage,” wrote Tory peer Gavin Barwell, a former MP and chief of staff to Theresa May, in SundaysObserver.
Defending his economic policy, Truss said Thursday that decisive action was needed to steer the economy in the right direction. In his first public comments since the government’s announcement of billions of dollars in unquantified tax cuts rattled markets and drove the pound to record highs, Truss said Britain was going through tough times. But she said the problems were global and spurred by the Russian invasion of Ukraine.
Sunak predicted Truss would plunge the UK into an ‘inflation crisis’
Earlier in the election campaign, his opponent and former Chancellor of the Exchequer, Rishi Sunak, repeatedly disputed that Truss could not manage the economy and would plunge the country into an “inflation crisis”. Alleging that Truss would increase borrowing to historic and dangerous levels, Sunak’s advocacy group had said that “she had no concrete plan to manage the economy” and added that she would not be able to offer respite to households over the coming winter. Notably, the country is also facing an energy crisis and energy regulators have announced an increase in bills from 1,971 to around 3,600.
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