The Rest Is Politics 63. TRUSS DOWN, KWARTENG OUT
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Oct 14, 2022 The hosts dive into the chaos surrounding Kwasi Kwarteng's sacking as Chancellor and what it means for Liz Truss's already shaky premiership. They address the implications of political upheaval on market confidence and party unity. The rise of populism and the influence of social media on public perception are examined, alongside the Conservative Party's membership issues and the need for reform. With a humorous touch, they reflect on the recent press conference's impact on the economy and even touch on royal controversies.
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Kwarteng's Dismissal
- Kwasi Kwarteng's recent firing followed a familiar pattern in British politics.
- He returned from an IMF meeting only to be dismissed, mirroring other instances of officials returning from trips to be sacked.
Truss's Three-Week Unraveling
- Liz Truss's premiership has unraveled dramatically in just three weeks after the mini-budget.
- Market turmoil followed, including currency freefall and rising mortgage interest rates, impacting even those with recently low rates.
Hunt's Power and Unpopularity
- Jeremy Hunt's appointment as Chancellor gives him significant power, offering some stability within the Conservative Party.
- However, his unpopularity within the NHS makes a nurses' strike more likely, despite calming some Tory anxieties.
