November 30, 2022

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As her party’s congress begins, Liz Truss faces the displeasure of the street and her majority.

the beginning Liz dress Downing Street is particularly tough. So he will try to regain control of the BBC set this Sunday before facing his increasingly angry party at the annual Conservative Congress. The British prime minister has indeed lived through a terrible week politically and economically, culminating in Saturday’s protests.

Thousands of Britons took to the streets to protest the coronavirus crisis. Cost of livingBills sometimes burn as the government somehow gets its fiscal policy right after a week of chaos in financial markets.

“Doing nothing is not an option”

inflammation At the highest level, the pound sterling is at record lows, with worries about winter approaching… The new Conservative government promised immediate action to tackle the crisis, but last week’s announcement of massive tax cuts aimed at the wealthy has sparked more anger and incomprehension than anything else.

The government’s “mini-budget” presented last week was met with coolness by the majority of Britons. The announcements sent markets into a panic and sent the pound to an all-time low, prompting intervention International Monetary Fund and central bank. But “doing nothing is not an option,” said Finance Minister Kwasi Kwarteng telegram Funding to justify Friday evening’s massive tax cuts was far from clear. He pledged a plan to reduce debt in the medium term, but ratings agency Standard & Poor’s was skeptical, revising downwards its forecast for the sustainability of British sovereign debt.

Meanwhile, the markets’ lack of understanding is now fueled by British anger. According to a recent YouGov poll, more than half of the population (51%) believe Liz Truss should step down in less than a month. Often strangled by inflation hovering near 10% and worried about whether they will be able to keep warm this winter or repay their loans, some refuse to pay their bills in October. The government has announced a freeze on the energy price ceiling, but prices have doubled in a year.

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Short social strife when the queen dies

In this context of intense social discontent, after a truce observed after the death of Elizabeth II on September 8, the mobilisations, which had been mounting in all sectors since June, have resumed with renewed vigour. Railway workers went on strike – the biggest since the start of the year – across the country on Saturday, with only 11% of services confirmed. Despite serious disruptions, rail mobilization is understood and supported by most Britons, according to an Ipsos poll.

Taking part in the protests, climate activists from the group ‘Just Stop Oil’ blocked several London bridges and called on the government to ‘solve the cost of living crisis and the climate crisis by stopping new investment in oil and gas’.

Congress promises to be dark

But more than the street, after all, Liz Truss has to fight against her majority in the beginning. More unpopular than ever, the Tories meet in Birmingham for four days from this Sunday for their annual congress. And given the environment, this high mass promises to be dark. According to the British press, letters of protest are already pouring in against Liz Truss. While some Tories were stunned by the vague budget announcements, others are already missing the former prime minister Boris JohnsonEven if he gets away with his lies.

So a large gathering of Conservatives is likely to take place with rarefied teams: Liz Truss’ rival Rishi Sunak or Boris Johnson may not actually make the trip during the campaign for party leader.

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Kwasi Kwarteng will speak at the conference on Monday, while Liz Truss will close the rally on Wednesday. While both have ruled out backing down for now, they agreed on Friday that Britain’s public budget forecasting body, the OBR, will deliver a “first version” of budget projections to the administration next week, taking into account a costly government economic plan.