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☆ UK PM Truss clings to power as chaos in Westminster deepens
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters) - British Prime Minister Liz Truss struggled to retain a grip on power on Thursday, a day after a second top minister quit and rowing and jostling broke out among her lawmakers in parliament in a dramatic breakdown of unity and discipline. Lawmakers openly argued in parliament on Wednesday amid confusion over whether a vote on fracking was a confidence vote in her administration. In a sign of the chaos, Downing Street issued a statement at 1:33 am (0033 GMT) to say the prime minister had "full confidence" in the chief whip and her deputy. "The whips will now be speaking to Conservative MPs who failed to support the government," a government spokesperson said. A handful of lawmakers have openly called for Truss to quit, and others have discussed who should replace her.

☆ Truss and UK market turmoil: What you need to know
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +4 min

Following are latest events, comments and context:POLITICS* Truss is meeting with Graham Brady, the head of the 1922 Committee of Conservative lawmakers, a source in Truss's Downing Street office said. The Guardian's political editor Pippa Crerar said on Twitter that Truss had called the meeting. * Conservative lawmaker Simon Hoare, in parliament for seven years, said Thursday and Friday were crunch days for the government. * Truss has promised disciplinary action against Conservative lawmakers who abstained or failed to support her party in a vote about fracking amid a total breakdown of unity and discipline. * Truss has lost her interior minister, Suella Braverman, who quit on Wednesday, less than a week after she fired her finance minister.

LONDON, Oct 19 (Reuters) - British Prime Minister Liz Truss sought to reassert authority over her fraught party on Wednesday with Conservative enforcers telling lawmakers they had to support her fracking policy as a vote treated as a test of confidence in the government. She has admitted her radical economic plans had gone "too far and too fast" after investors dumped the pound and government bonds. Polls indicate Conservatives are some 30 points behind the opposition Labour Party, and her own ratings are calamitous. I think many of us are asking exactly what does Liz Truss now believe and stand for?" Conservative 'whips', responsible for enforcing discipline among members of parliament, sent a message to their lawmakers saying the vote would be treated as a "confidence motion in the government".

☆ UK Prime Minister Liz Truss faces serious pressure to resign after failed budget
▼ + stars: | 2022-10-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

LONDON — U.K. Prime Minister Liz Truss is facing calls to resign from within her own Conservative Party just six weeks after entering Downing Street. Truss and her former Finance Minister Kwasi Kwarteng announced a fiscal package – a so-called "mini-budget" – on Sept. 23. The latest plans were announced Monday by Jeremy Hunt, just three days into his tenure as finance minister. Angela Richardson, Conservative MP for Guildford, said it was "no longer tenable" for Truss to remain as prime minister, speaking on Times Radio on Monday, while Jamie Wallis, Conservative MP for Bridgend, wrote to the prime minister telling her to resign. "I ask you to stand down as Prime Minister as I believe you no longer hold the confidence of the country or the parliamentary party," Wallis' letter said.

To replace him, she appointed Jeremy Hunt, a former foreign and health secretary who had backed her rival Rishi Sunak in this summer's race to become Conservative Party leader. He is the fourth finance minister in as many months in Britain, where millions are facing a cost of living crisis. Kwarteng becomes Britain's shortest serving finance minister except for a predecessor who died suddenly in office in 1970. Christopher Chope, a veteran Conservative lawmaker and Truss supporter, said the party was now a laughing stock. "The markets have lost trust in the Conservative Party - and who can blame them?"

☆ Sterling sinks to new low as 'mini budget' shatters investor faith in UK markets
▼ + stars: | 2022-09-26 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

"It also puts more pressure on the Bank of England to increase interest rates," she added. read moreScottish First Minister Nicola Sturgeon called for the Westminster parliament to be recalled to hold an emergency session. "It's hard to overstate the scale of the economic crisis caused by Friday's UK budget," she said on Twitter. read moreEYES ON BOEIn light of the rout, strategists and economists said the Bank of England needs to do something to calm markets and restore credibility. "The market is now treating the UK as if it's an emerging market.

☆ UK Labour's Reeves: 'incredibly worried' by fall in the pound
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterLONDON, Sept 26 (Reuters) - The financial policy spokeswoman for Britain's opposition Labour Party said she was incredibly worried about the fall in the pound overnight, saying it put pressure on the Bank of England to raise interest rates. Sterling tumbled nearly 5% to an all-time low against the U.S. dollar on Monday, before partly recovering, as the fall-out from the new government's fiscal plan on Friday continued. "I started my career as an economist at the Bank of England and like everyone else I'm incredibly worried about what we've seen, both on Friday with market reactions to the chancellor's so-called mini-budget, and also the reactions overnight," Rachel Reeves told Times Radio. "It also puts more pressure on the Bank of England to increase interest rates," she added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kate Holton and Kylie MacLellan; editing by David MillikenOur Standards: The Thomson Reuters Trust Principles.

☆ About 250,000 attended Queen Elizabeth's lying-in-state, UK minister says
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Her Majesty Queen Elizabeth's funeral procession makes its way down the Long Walk towards Windsor Castle, September 19, 2022. SSgt Dek Traylor/Pool via REUTERSLONDON, Sept 20 (Reuters) - Some 250,000 mourners filed past Queen Elizabeth's coffin at Westminster Hall in London during her lying-in-state, Britain's culture minister Michelle Donelan said on Tuesday. Britain's last lying-in-state was held for war-time Prime Minister Winston Churchill who died in 1965. About 321,360 people filed past his coffin at Westminster Hall, according to a House of Commons note. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sachin Ravikumar, editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.

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