British economists believe that only a miracle can save Truss

British economists believe that only a miracle can save Truss
Fecha de publicación: 
4 October 2022
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London, Oct 4 (Prensa Latina) British experts in political economy warned on Tuesday that only a miracle will save Conservative Prime Minister Liz Truss from being ousted by her coreligionists after her disastrous mandate.

In statements via email to Prensa Latina, Nottingham City University professors Alex de Ruyter, Steven McCabe and Beverley Nielsen agreed the UK ruling party could force Truss to resign before Christmas, if Tory MPs see jeopardize their seats in Parliament.

As polls show, the intention to vote for Tories has decreased since the announcement of the new tax cut that favors the wealthier people disproportionately, de Ruyter pointed out.

The British specialist stressed that even after backing down on that controversial proposal on Monday, Truss still has to seek £43 billion ($49 billion) to finance the tax cut, and it will do so through a public spending and social benefit reduction for low-income people.

McCabe believes, on the other hand, that both Truss´ credibility and Finance Minister Kwasi Kwarteng´s plummeted after the presentation of the so-called mini-budget with which the Executive intends to boost the economic growth in the midst of the cost-of-living crisis.

Britons continue facing issues such as rising food and energy prices, and inflation. Although it may not be as high due to government move, it will inexorably affect purchasing power.

Professor Nielsen, in turn, said Truss, who is scheduled to conclude the Conservative Party’s annual conference in Birmingham on Wednesday, has lost her deputies´, markets´ and public´s trust.

Perhaps that will not be her first and last speech, but if she continues, she will be like a “zombie” prime minister, the economist asserted, alluding to the fact that Truss will not be able to make any other decision without being Cabinet first informed.

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