British Prime Minister Liz Truss announced his resignation humiliatingly outside Downing Street on Thursday local time. In the 45 days before that, Tras' mini budget collapsed the market. She lost two key ministers and almost lost the trust of all members of parliament. It is widely believed that Tras is incompetent and she cannot market her vision —not only to the Conservative MPs she is in, but to the wider voters and to the forex and bond traders in London.
American media commented that Her resignation also reflects the ongoing identity crisis within the Conservative Party: the division has led to the painful experience of Brexit and left behind the question of not only who will lead the country, but where it will lead the country. Moreover, Britain is at a loss about its position in the world, its relationship with Europe, how to deal with the soaring inflation and the expected recession, and how to deal with a range of problems from immigration to climate change.
Tras was eager to reverse herself and her supply-side, trickle-drop growth plan, quickly abandoned the senior minister and abolished her signature policy of tax cuts for high-income earners, investors and businesses, with funds coming from more borrowing and debt in the short term. Although this 180-degree turn helped bond traders to calm down temporarily and boost the pound, it was not enough to save her politically.
On Thursday, Tras said in front of the Prime Minister's residence on Downing Street: "In view of the current situation, I cannot fulfill the mission that the Conservative Party has given me when elected me." "So, I have announced to His Majesty the King that I will resign." Meanwhile, the Conservative Party's power brokers have serious differences on who will become the party's next leader and who will become the third British prime minister in 8 weeks.
At this time, it is only 45 days before Trass scenery takes office
Conservative Party plans to elect a new leader by October 28. Previously, Conservative MPs voted in Parliament and voted online, with less than 0.3% of the UK population participating in the vote. In 1922, the Conservative Parliamentary Organization, chairman of the committee, Graham Brady, announced a comprehensive revision of the rules, shortening the process that usually takes two months. It is reported that any Conservative MP can propose their own name as long as they receive support from at least 100 Conservative colleagues in Parliament - a rather high threshold.
Meanwhile, the news that Leeds Tras resigned as prime minister occupied the front pages of major British newspapers on Friday. The front page of the British " Guardian " reads that "after 45 days of turmoil, the Prime Minister bowed to the inevitable situation" and called this moment a "painful ending."
As for who will become the British Prime Minister next, the British " Daily Telegraph " said, " Boris Johnson is privately urging Conservative MPs to support him in a dramatic return to Downing Street." Under an article titled "Boris Johnson Tells Tory: I Can Save the Conservative Party's Losing in the Election", the newspaper reported that Johnson is "pressing Rich Sunak to extend an olive branch to make him 'reconciliation'" to his former Chancellor of the Exchequer.
At the same time, news of Tras' resignation stole the limelight at the opening ceremony of the EU summit held in Brussels , and leaders at the meeting were asked to express their opinions on the political crisis in the UK. The leader sitting on the other side of the Brexit negotiations showed gloating and sly smiles. But most leaders are "elegant", French President Emmanuel Macron said he hopes Britain "restores political stability as soon as possible." However, he also regretfully stated that his working relationship with Tras "was gradually formed."
