https://www.bbc.com/news/uk-politics-63332037
So what does all of this mean. Does Britain reconsider it's Brexit? (Lord I hope not)
Is it a sign of poor Conservative ideas or leadership? (I would say the later). Times fails to recognize that Truss didn't get much if any of the 105 billion in tax cuts through. So how is that a referendum on the Conservative Party's (Tory) ideas. It should rather be a referendum on the Labor Party's opposition, and an inability of Truss (the moderate Tory that made the most the happiest, and simply found herself PM because everyone else was eliminated, instead of actually winning the position) in being able to get her party in gear.
I get the impression that Truss's resignation has less to do with politics and more to do with the Central Bank of England. But England faces a ton of challenges in the next few years, add in 13% inflation, and a reduction in fossil fuels for energy, and you have a recipe for disaster. If the Central Bank refused to raise interest rates over the inflation rate, what is going to the be the result? A soft landing is clearly off the table at this point, and it looks more like the British economy is going to have to hope that the trees don't take apart every bit of the aircraft crashing into the forest. The big question though is what caused their economy to stumble so badly? Was it Covid, Brexit, tax cuts, lack of tax cuts, their energy plan, the war in Ukraine, or something else? What everyone can agree on is that they need steady leadership. It will be interesting, and important for the US to see who emerges. I hope it is Tom Tugendhat.
Liz Truss resigns: PM's exit kicks off another Tory leadership race
So what does all of this mean. Does Britain reconsider it's Brexit? (Lord I hope not)
Is it a sign of poor Conservative ideas or leadership? (I would say the later). Times fails to recognize that Truss didn't get much if any of the 105 billion in tax cuts through. So how is that a referendum on the Conservative Party's (Tory) ideas. It should rather be a referendum on the Labor Party's opposition, and an inability of Truss (the moderate Tory that made the most the happiest, and simply found herself PM because everyone else was eliminated, instead of actually winning the position) in being able to get her party in gear.
I get the impression that Truss's resignation has less to do with politics and more to do with the Central Bank of England. But England faces a ton of challenges in the next few years, add in 13% inflation, and a reduction in fossil fuels for energy, and you have a recipe for disaster. If the Central Bank refused to raise interest rates over the inflation rate, what is going to the be the result? A soft landing is clearly off the table at this point, and it looks more like the British economy is going to have to hope that the trees don't take apart every bit of the aircraft crashing into the forest. The big question though is what caused their economy to stumble so badly? Was it Covid, Brexit, tax cuts, lack of tax cuts, their energy plan, the war in Ukraine, or something else? What everyone can agree on is that they need steady leadership. It will be interesting, and important for the US to see who emerges. I hope it is Tom Tugendhat.