Liz Truss tries to fix economic course after chaos

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(by Alessandro Carlini)

LONDON – Within weeks Liz Truss reiterated her promise to “implement the programme” in her first speeches as Conservative premier and stressed the need to review it to reassure markets, the British and the majority party after the chaos Gave. by the economic measures of his government. A very crucial week for the future of the Tory leader opened with another course correction after the farewell to the volatile abolition of the maximum rate: Chancellor of the Exchequer Quasi Quarteng anticipates the presentation of a medium-term financial plan with financial coverage . The £43 billion mini-maneuver was announced just two weeks ago. The originally planned date was 23 November, but the executive was forced to revise his plans because the lack of this fundamental document contributed to the collapse of the pound and the rain of British government bond sales: the only intervention bank. What was left of the Emergency of England was a nightmare scenario.

Quarteng informed the chairman of the Municipal Treasury Commission, in writing, of his decision, the conservative Mel Stride, who had in recent days been very critical of the mini-budget. The document will be accompanied by estimates from the Budget Responsibility Office (OBR), the supervisory body which should indicate the position of public accounts along with details of the level of debt to be maintained in the coming years. And today again the central bank announced additional measures to support the markets, increasing the size of bond purchases for the last five days of operation, from the previous 5 billion, to a maximum of 10 billion pounds, initiated on 28 September.

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Downing Street and Threadneedle Street (London Street where the Bank of England’s headquarters are located) followed some initial friction, particularly due to criticism coming from Truss’s colleagues on the institution’s work, to avoid the route of other accidents on the same track. should proceed on for British locomotives in danger of recession. For his part, the conservative prime minister, accustomed to extreme changes of direction in his political career, may be preparing others for the days to come. According to the media, the adjustment to record inflation for the public subsidy of the sovereign debt, promised by his predecessor Boris Johnson, on which the truce expressed itself with a certain hesitation – if not even with alternative proposals – is on the way. The unfavorable reaction of some of his ministers, such as Penny Mordaunt, Leader of the House (equivalent to Minister of Relations with Parliament). For the Times, this and other openings are part of a precise strategy implemented with the resumption of parliamentary activity after the annual Congress of the Westminster Parties. A strategy that, in internal political terms, provides for business lunches of the Premier with about thirty MPs at a time and monthly meetings with all deputy.

Another cool sign within the party is the appointment as deputy commerce minister of Greg Hands, a supporter of former Chancellor of the Exchequer Rishi Sunak during the Tory leadership race won by Truss, after complaints of a Connor Burns torpedo’s location. But a serious “episode” of “misconduct”. But concessions are also needed for the British, reeling from costly life and energy crises, ready to strike again to make up for wage adjustments already made in recent months. With a remarkable effort, the government has thus reached a settlement in a dispute inspired by the official criminal lawyers and young lawyers of England and Wales, who have quashed the already established new movement. In the meantime, however, Aberdeen First Minister Nicola Sturgeon in her Scottish National Party Congress resumed Scotland’s separatist challenge against London and defined the introduction of the Tory premiership at the top of the state as “disastrous”.

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