UK leader Liz Truss faces test in Parliament, seeks lifeline

Oct 19, 2022

British Prime Minister Liz Truss is set for a House of Commons grilling as she tries to fend off calls to quit over her botched economic plan

LONDON (AP) — British Prime Minister Liz Truss faces a House of Commons grilling Wednesday from a hostile opposition — and her own furious Conservative Party — as she tries to fend off calls to quit over her botched economic plan.

Truss is set to attend the weekly Prime Minister’s Questions session two days after newly appointed Treasury chief Jeremy Hunt ripped up the tax-cutting package unveiled by the prime minister's new government less than a month ago.

The package of unfunded tax cuts announced Sept. 23 sparked turmoil on financial markets, hammered the value of the pound and increased the cost of U.K. government borrowing. The Bank of England was forced to intervene to prevent the crisis spreading to the wider economy and putting pensions at risk.

Under intense political and economic pressure, Truss last week fired her ally Kwasi Kwarteng as Treasury chief, replacing him with Cabinet veteran Hunt. On Monday Hunt scrapped almost all of Truss’ tax cuts, along with her flagship energy policy and her promise of no public spending cuts. He said the government will need to save billions of pounds and there are “many difficult decisions” to be made before he sets out a medium-term fiscal plan on Oct. 31.

Foreign Secretary James Cleverly urged Conservatives to give Truss another chance, saying “mistakes happen."

“What you’ve got to do is recognize when they’ve happened and have humility to make changes when you see things didn’t go right,” he said.

Official figures released Wednesday showed U.K. inflation rose to 10.1% in September, returning to a 40-year high first hit in July, as the soaring cost of food squeezed household budgets. While inflation is high around the world – driven up by Russia’s invasion of Ukraine and its effect energy supplies – polls show most Britons blame the government for the country’s economic pain.

With opinion polls giving the opposition Labour Party a large and growing lead, many Conservatives now believe their only hope of avoiding electoral oblivion is to replace Truss. But she insists she is not stepping down, and legislators are divided about how to get rid of her.

Under Conservative Party rules, Truss is safe from a leadership challenge for a year, but the rules can be changed if enough lawmakers want it. Some Conservative legislators also believe Truss could be forced to resign if the party agrees on a successor.

As yet, there is no front-runner. Truss’ defeated Conservative leadership rival Rishi Sunak, House of Commons leader Penny Mordaunt and popular Defense Secretary Ben Wallace all have supporters, as does Hunt, who many see as the de facto prime minister already.

Some even favor the return of Boris Johnson, who was ousted in the summer after becoming enmeshed in ethics scandals.

Cleverly said he understood why colleagues were angry, but added: “That’s an emotional response, it’s not a plan.”

“What I’m not convinced by – far, far from convinced by – is that going through another leadership campaign, defenestrating another prime minister, will either convince the British people that we’re thinking about them rather than ourselves, or convince the markets to stay calm and ensure things like those bond yields and gilt yields start coming back down,” the foreign secretary told Sky News.

___

Follow AP’s coverage of British politics at https://apnews.com/hub/liz-truss

More News

'I'd spend $1,000 on a wedding present'
Oct 15, 2026
'I'd spend $1,000 on a wedding present'

New Yorkers share how much they spend on a wedding gift - and how they decide.

Homeownership Drifts Further Out of Reach as Mortgage Rates Rise
Oct 15, 2026
Homeownership Drifts Further Out of Reach as Mortgage Rates Rise

Mortgage rates have pushed above 7 percent and home prices remain elevated, hurting the prospects of would-be buyers.

'I paid thousands to a company for jobs that never came'
Oct 15, 2026
'I paid thousands to a company for jobs that never came'

Apurv Patel is one of several people who say they were promised job opportunities that did not appear.

Banks say Healey is planning Budget tax raid on their profits
Oct 15, 2026
Banks say Healey is planning Budget tax raid on their profits

Senior banking executives have told the BBC they expect to be "on the menu" in the chancellor's Budget tax later this month.

Tech Stocks Drop Further Amid Doubts Over AI Spending
Oct 15, 2026
Tech Stocks Drop Further Amid Doubts Over AI Spending

Tech stocks plunged, led by a steep drop in South Korea’s benchmark index, as concerns over soaring A.I. spending and stubborn inflation fueled a sell-off.

Data Centers Become Targets in Wars in Ukraine, Russia and the Middle East
Oct 15, 2026
Data Centers Become Targets in Wars in Ukraine, Russia and the Middle East

Military forces have sought to damage the computing hubs that power online services and artificial intelligence systems.

Mortgage Rates Hover at 7.4%, Highest Since 2023
Oct 15, 2026
Mortgage Rates Hover at 7.4%, Highest Since 2023

The average 30-year, fixed-rate mortgage has steadily risen in recent weeks, compounding affordability challenges for many Americans.

California’s Proposition 45 Brings the Sprawl Debate Back
Oct 15, 2026
California’s Proposition 45 Brings the Sprawl Debate Back

Among the measures up for a vote in November is one that would amend the state’s landmark environmental law and make it easier to build large housing developments outside cities.

Gulf Oil Is Still Flowing Despite a Surge in Attacks on Ships
Oct 15, 2026
Gulf Oil Is Still Flowing Despite a Surge in Attacks on Ships

Shipping operators are braving the Strait of Hormuz, but the risks are high and transportation costs have skyrocketed.

Nandy 'minded to intervene' in Sky's £1.6bn takeover of ITV entertainment arm
Oct 15, 2026
Nandy 'minded to intervene' in Sky's £1.6bn takeover of ITV entertainment arm

The culture secretary says the deal could affect free expression in the media and the variety of Britain's news landscape.

Midterms Could Shift Focus of Epstein Abuse to Banks’ Role
Oct 15, 2026
Midterms Could Shift Focus of Epstein Abuse to Banks’ Role

With an eye on retaking control of Congress, Democrats are introducing a bill that would hold banks accountable for their handling of Jeffrey Epstein’s finances.

What Is Starshield, SpaceX’s Military-Grade Satellite Internet Service Ukraine Relies On?
Oct 15, 2026
What Is Starshield, SpaceX’s Military-Grade Satellite Internet Service Ukraine Relies On?

For years, Ukraine’s armed forces have relied on satellite communication services developed by Elon Musk’s SpaceX. Recent restrictions have hampered its war effort.

Manage The Numbers

Manage The Numbers is the world’s fastest-growing finance news website, featuring the latest money and market news, along with in-depth analysis so you can make the best decision.

Newsletter