LIZ Truss’s days as Prime Minister could be numbered less than a month after she entered No 10 – with a rebellion brewing among Tory MPs as the UK plummets into economic crisis.
The crisis was sparked after Truss’s new Chancellor, Kwasi Kwarteng, announced a slew of tax cuts for the rich, funded by increased government borrowing, in a “mini-budget” on Friday.
The backlash has been severe, with the pound crashing to record lows and extraordinary interventions from the Bank of England, the International Monetary Fund, and global credit ratings agency Moody’s.
One serving Conservative minister told ITV’s Robert Peston that the crisis meant: “Kwasi is toast.”
Both Kwarteng and Truss have been told to “come out of hiding” and address the financial crisis by the SNP.
The party’s depute leader Keith Brown said: “It is astounding that Liz Truss has not made a single public appearance or statement since last Friday. It is time for her to come out of hiding and at least make the pretence of leading the country through this self-inflicted crisis."
The i’s Paul Waugh tweeted a short joke reportedly from a WhatsApp group of Tory MPs. It went: “Q: Where's Liz?
“A: Asking Kwasi to resign."
Public signal of internal war came from news that former chancellor Rishi Sunak – who was scathingly critical of Truss’s economic plans during the Tory leadership election race – will not be attending the Conservative party conference, which starts in a matter of days.
Compounding the issue, another former chancellor, Sajid Javid, former Brexit secretary David Davis, and Mel Stride – the chair of both the Treasury and Liaison Westminster committees – have all also confirmed they will not attend the conference.
Further reports of unease in the Tory party have been pouring in, as well as the former Scottish Conservative MSP Adam Tomkins launching a fierce attack on the “dogma” from his own party in the pages of the Herald.
Calling Truss’s tax cuts “profoundly unconservative”, Tomkins called for a Labour government to run the UK.
Just spoke to a Tory MP who told me “we ( Conservative party) are just a protectionist racket right now - a gang of marauding ambition - not a serious party”.
— emily m (@maitlis) September 28, 2022
Emily Maitlis, the former BBC host, tweeted: “Just spoke to a Tory MP who told me: ‘We (Conservative Party) are just a protectionist racket right now – a gang of marauding ambition – not a serious party’.”
One sitting Tory MP told Sky News’s Sam Coates: “It is actually incredible that the UK central bank has had to step in to protect the UK from the actions of the UK's own government! I mean, just think of that for a moment!”
Another told the same broadcaster’s Agnes Chambre: “Kwasi and Liz will have to go. They have to, they are actually crashing the economy.”
When asked how long he would give them, the MP replied: "Weeks.”
A Sky News broadcast saw Coates read out a list of damning reactions to the crisis from Conservative politicians, with one saying calling the situation “utterly humiliating”.
Tory MPs react pic.twitter.com/c1m1vlsDOq
— Sam Coates Sky (@SamCoatesSky) September 28, 2022
Another said: “I thought Boris Johnson’s Cabinet the worst in history, that one’s just beaten it.”
Times Radio’s Lucy Fisher tweeted: “Tory MP on economic turmoil: 'Politically this is extinction level for us. It's all over. Half of my colleagues realise it, the Q is just how quickly will the other half catch up.”
The Tory Party conference will run in Birmingham from October 2 to October 5. Westminster is in recess until October 11 to allow the party conferences to take place.
First Minister Nicola Sturgeon is among the voices calling for an urgent recall of parliament to address the emerging financial crisis.
