WorldBritish PM Truss says he has no intention of...

British PM Truss says he has no intention of leaving office

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British Prime Minister Liz Truss. Archive photo

British Prime Minister Truss has said he has no intention of stepping down yet.

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MOSCOW, October 18 – RIA Novosti. British Prime Minister Liz Truss has said she has no intention of leaving her post, amid calls to send the cabinet chief to resign.

“I’m staying because I was chosen to work for the good of this country and that is my intention. I will be the head of the Conservative Party in the next general election… We are going through a very difficult time. We are going through a difficult time right now and we cannot waste time talking about the Conservative Party instead of doing what we have to do. That’s my message to my colleagues,” Truss said in an interview with the BBC.

The British prime minister added that he accepted responsibility for “mistakes” and wanted to apologize.

“I really want to take responsibility and apologize for the mistakes I’ve made. I wanted to help people deal with the energy bills along with the high tax issue, but we went too far and we went too fast, I admit,” added Truss. .
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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 Finance Minister Kwazi Kwarteng and includes a massive tax cut. 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 pound has fallen sharply and dropped to a historic low of $1,054 per pound during trading.

Due to the situation in the financial markets last Friday, Truss announced that it has raised the corporate income tax rate from 19% to 25%, which was 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, the author of the scandalous Kvarteng plot resigned, replaced by former British Foreign Secretary Jeremy Hunt.

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Source: Ria

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Harold
Harold
I'm Harold O'Connor and I work as an author and editor for News Unrolled, a news website dedicated to delivering the latest world events. With my in-depth research skills, passion for news writing, and keen eye for detail, I strive to provide readers with accurate information on current affairs from around the globe.

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