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UK government reverses course on fiscal planning causing markets to clash


Credit…Adam Vaughan / EPA, via Shutterstock

LONDON – As news broke that Kwasi Kwarteng, prime minister of Britain’s Exchequer, had been sacked on Friday, Britons on both politically divided camps expressed disappointment ahead of the Prime Minister’s first month in power. Liz Truss and says her leadership position looks increasingly unattainable .

Simon Bubb, an opposition Labor Party supporter, who went shopping in London on Friday with his young son said: “It was a complete disaster. “The direction the government has taken over the last three or four years is adding to the chaos.”

“What we have is a situation in the country where everybody knows there needs to be a general election, but we’re not going to get a general election,” Mr. Bubb said. said he listened to Ms. Truss’ statements in the car. . “She may be lame, but I hope she stays so we get fewer Tory MPs in the next election.”

Mr Bubb said that the decision to fire Mr Kwarteng, Britain’s top finance official, was an attempt by the prime minister to save her own skin, which he doubted would work.

“She completely threw him under the bus,” he said, adding that Ms Truss’ position “remains pretty much impossible” regardless of any policy reversals or changes to the interior. the any.

“Most people realize that she and he are a double, so she’s really not fooling anyone,” Mr. Bubb said.

Morag Draycott, 64, a Conservative supporter, agrees that recent weeks in British politics have been like a sinking ship.

“Obviously they haven’t thought about their policies and their impact,” Ms. Draycott said as she emerged from a supermarket, adding that she was struggling to keep up with the price crisis. Living is on the rise in the UK.

Ms Draycott says she still supports former Prime Minister Boris Johnson and she believes he should be allowed to return to the war.

“They did the same about Partygate because he was drinking,” she said, referring to a political scandal that ultimately catalyzed Mr Johnson’s resignation in July. “Ridiculous.”

Matthew Redington, 51, a self-employed painter and decorator, wasn’t surprised by Friday’s news as he stood sipping tea outside the home where he works.

“At the end of the day, you have to deal with the reality of the situation, and if what you’ve done has caused the market to crash all of a sudden, then that shows you have to think again,” Mr. Redington said, referring to Ms. Truss’s small budget, to which she part back away from in her comment on Friday.

“When you were young, you used to believe that the commanders were the commanders, but now you feel that they are in such a strange bubble that they have completely lost touch with reality,” said Mr Redington. economic. although his politics aligned with the Conservative Party, he never voted for them.

It was a sentiment that was replicated across the country on Friday.

In Bradford, northern England, Lisa Thorp, who works in a nursery, says that after weeks of political turmoil, she is not surprised by the news.

“I want to believe in Truss,” said Ms Thorp, 45, a Conservative supporter and mother of three, after she finished preparing dinner for the family. “Unfortunately, I don’t feel she has the backbone to lead the party,” she added, explaining that she still supports Boris Johnson, the former prime minister.

But not everyone on Friday was so diplomatic. Julie Ambrose, who lives in Essex, east of England, said Truss’ government was a “car accident”.

Ms Ambrose, 62, a Labor supporter living in the safe Conservative seat said: “It’s odd that the prime minister was elected with fewer votes than the postal workers who voted to strike – it was It’s not democracy, it’s a farce.”

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