Some Conservative MPs have sent letters of no confidence in Liz Truss over fears the Prime Minister will “crash the economy”, according to a former minister.
The pound fell by more than 4% over the weekend to $1.0327 — its lowest level against the dollar since decimalisation in 1971. It regained some ground to hit $1.075 just after 10am on Monday. Many experts have linked the slide to Chancellor Kwasi Kwarteng’s borrowing-fuelled spree of tax cuts.
An ex-minister in Boris Johnson’s government told Sky political news editor Agnes Chambre on Monday that some MPs have already sent letters of no confidence to 1922 Committee chairman Sir Graham Brady. For a confidence vote to be triggered, 54 letters would need to be sent.
