UK’s Truss fires finance minister as budget plan in ruins

By AFP

British Prime Minister Liz Truss on Friday fired her finance minister and abandoned the key plank of her right-wing economic platform, battling to salvage her new government as restive Conservatives plotted her own demise.

At her first news conference since succeeding Boris Johnson on September 6, Truss insisted she had acted “decisively” to bring about “economic stability” — but the pound resumed its slide on currency markets, falling under $1.12.

“We will get through this storm,” she said, taking only four questions, delivering terse replies, and prompting one journalist to shout as she left: “Aren’t you going to say sorry?”

Truss refused to comment on whether she retains any credibility after dismissing Kwasi Kwarteng as chancellor of the exchequer for implementing her own agenda. Read more here.