I never thought that I would write a post suggesting that Boris Johnson’s reign as UK Prime Minister was not so bad.
But that is the state that we have reached.
Compared to the current shit storm that is happening in the United Kingdom Boris Johnson’s reign will be remembered as a relatively stable period of its history where decisions made were not so bad.
Comparatively speaking only. Although history will show that Brexit, and Boris Johnson’s role in it as the economically most destructive event in the country’s recent history at least Johnson did not cause the economy to implode in a spectacular fashion.
She took the step of throwing Chancellor of the Exchequer Kwasi Kwarteng under the proverbial bus for committing the sin of implementing her policy of trickle down.
From the Guardian:
Liz Truss is desperately clinging to her premiership after she sacked her chancellor and ripped up the mini-budget but failed to calm the financial markets or furious Conservative MPs.
In a humiliating reversal, the prime minister backed down on plans to scrap an £18bn rise in corporation tax and replaced Kwasi Kwarteng as chancellor with Jeremy Hunt.
She said staying in her position as prime minister would help to “reassure the markets of our financial discipline”, but the cost of government borrowing rose and the pound fell following her press conference announcing the changes.
Senior Conservative MPs are plotting how to remove her from office, with some mulling whether to publicly call for her to resign in the coming days. One former cabinet minister said they thought it was “50/50 whether she will make it till Christmas”, adding: “If I could wave a magic wand and get rid of her now then I would, but the problem is the mechanism.”
Here is the press interview where the resignation was announced.
She was asked a really tough question about if she had trashed the Conservative Party’s reputation for sound economic management. She repeated her platitudes about having a high growth low tax economy then walked out.
Meanwhile the latest poll has the Tories on 19% and there is a prediction of a cataclysmic loss of seats with the possibility of only four Tory MPs left being raised.
It seems inevitable that Truss will be removed as leader one way or the other in the near future. The only question is how.
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