Position of UK's PM, Liz Truss, in doubt after new Treasury chief axes 'Trussonomics'

Britain's Prime Minister Liz Truss attends a press conference in the Downing Street Briefing Room in central London, Friday Oct. 14, 2022. Truss has only been in office for six weeks. But already her libertarian economic policies have triggered a financial crisis, emergency central bank intervention, multiple U-turns and the firing of her Treasury chief. AP - Daniel Leal

The UK’s new Treasury chief has ripped up the government’s economic plan, dramatically reversing most of the tax cuts and spending plans that new Prime Minister Liz Truss announced less than a month ago.

The move raises further questions about how long the British leader can stay in office, although Truss insists she has no plans to quit.