LONDON, Oct 20 (Reuters) – Britain’s Liz Truss battled to retain her grip on power on Thursday, a day after she lost a second top minister and open arguments and jostling among her lawmakers in parliament highlighted a breakdown of party unity and discipline.
In just six weeks as prime minister, Truss has been forced to abandon almost all her policy programme after it triggered a bond market rout and a collapse of her approval ratings and those of her Conservative Party.
Truss became Britain’s fourth prime minister in six years after being elected in September to lead the Conservative Party by its members, not the broader electorate, and with support from only around a third of the party’s lawmakers. She promised tax cuts funded by borrowing, deregulation and a sharp shift to the right on cultural and social issues.
Her abrupt loss of authority comes as the economy heads into recession and her new finance minister Jeremy Hunt races to find tens of billions of pounds of spending cuts to reassure investors who took fright at Truss’s policy proposals.