British Defense Secretary Wallace said he has no plans to become prime minister.
MOSCOW, October 18 – RIA Novosti. British Defense Secretary Ben Wallace declarationHe wants to be defense minister until the end of his term and is not considering running for prime minister amid rising calls for the resignation of current prime minister Liz Truss.
According to previous media reports, some members of the British Parliament are in favor of Defense Secretary Ben Wallace, who has replaced Liz Truss as prime minister.
Wallace added that British society wants stability and security, and that the Conservative Party could replace the opposition if the government does not provide it to its residents.
The British government, led by Truss, has faced a flurry of criticism over a new plan to support the economy and fears that the government will increase the size of the public debt to implement it. The plan was presented to Parliament by former Treasury Secretary Kwazi Kwarteng and called for massive tax cuts. After the announcement, the yield on five-year UK government bonds rose 4.6% to the highest level since 2008, meaning demand for debt securities has decreased. In this regard, the sterling fell sharply and dropped to a historic low of $1,054 per sterling during trading.
Due to the situation in the financial markets last Friday, Truss announced at a press conference that the corporate income tax has been increased from 19% to 25%, proposed by the government of former prime minister Boris Johnson and previously canceled by Truss. The cancellation of the planned increase was one of the measures of the plan to support the economy and assumed that more businesses would invest in the UK economy. On Friday, Finance Minister Kwazi Kwarteng, author of the scandalous plot, resigned, replaced by former British Foreign Secretary Jeremy Hunt.
Liz Truss said she is not considering leaving her post yet, accepting responsibility for “mistakes” and would like to apologize.
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