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Trussonomics
Liz Truss's tenure as Prime Minister of the United Kingdom began on 6 September 2022 when she accepted an invitation from Queen Elizabeth II to form a government, succeeding Boris Johnson, and ended 49 days later on 25 October upon her resignation. As prime minister, she served simultaneously as First Lord of the Treasury, Minister for the Civil Service, and Minister for the Union. Truss defeated Rishi Sunak in the July–September 2022 Conservative Party leadership election on 5 September and was appointed prime minister the following day. Elizabeth II's death on 8 September caused government business to be suspended during a national mourning period of 10 days. In response to the cost-of-living crisis and energy supply crisis, the Truss ministry announced the Energy Price Guarantee, which reduced energy prices for households, businesses, and public sector organisations. Kwasi Kwarteng, then Chancellor of the Exchequer, announced large-scale borrowing and tax cuts in a mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
October 2022 Conservative Party Leadership Election
The October 2022 Conservative Party leadership election was triggered by Liz Truss's announcement that she would resign as Leader of the Conservative Party and Prime Minister of the United Kingdom, amid an economic and political crisis. In the July–September 2022 Conservative Party leadership election, Truss was elected to succeed Boris Johnson, who resigned after a string of controversies that severely damaged his personal reputation. Truss and her chancellor, Kwasi Kwarteng, announced large-scale tax cuts and borrowing in a mini-budget, which was widely criticised and largely reversed, having led to financial instability. Truss dismissed Kwarteng without explanation on 14 October and appointed Jeremy Hunt to succeed him. On the evening of 19 October, MPs voted to reject a motion which would guarantee parliamentary time for a bill to ban fracking in the UK. The vote was controversial as it was unclear whether a three-line-whip had been issued to Conservative MPs, orderin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conservative Party (UK)
The Conservative and Unionist Party, commonly the Conservative Party and colloquially known as the Tories, is one of the two main political parties in the United Kingdom, along with the Labour Party (UK), Labour Party. The party sits on the Centre-right politics, centre-right to Right-wing politics, right-wing of the Left–right political spectrum, left-right political spectrum. Following its defeat by Labour at the 2024 United Kingdom general election, 2024 general election it is currently the second-largest party by the number of votes cast and number of seats in the House of Commons of the United Kingdom, House of Commons; as such it has the formal parliamentary role of His Majesty's Most Loyal Opposition. It encompasses various ideological factions including One-nation conservatism, one-nation conservatives, Thatcherism, Thatcherites and Traditionalist conservatism, traditionalist conservatives. There have been 20 Conservative Prime Minister of the United Kingdom, prime minis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rishi Sunak
Rishi Sunak (born 12 May 1980) is a British politician who served as Prime Minister of the United Kingdom and Leader of the Conservative Party (UK), Leader of the Conservative Party from 2022 to 2024. Following his defeat to Keir Starmer's Labour Party (United Kingdom), Labour Party in the 2024 United Kingdom general election, 2024 general election, he became Leader of the Opposition (United Kingdom), Leader of the Opposition, serving in this role from July to November 2024. He previously held two Cabinet of the United Kingdom, Cabinet positions under Boris Johnson, latterly as Chancellor of the Exchequer from 2020 to 2022. Sunak has been Member of Parliament (United Kingdom), Member of Parliament (MP) for Richmond and Northallerton, previously Richmond (Yorks), since 2015. Sunak was born in Southampton to parents of Indian descent who immigrated to Britain from East Africa in the 1960s. He was educated at Winchester College, studied philosophy, politics and economics at Linc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liz Truss
Mary Elizabeth Truss (born 26 July 1975) is a British politician who served as Prime Minister of the United Kingdom and Leader of the Conservative Party (UK), Leader of the Conservative Party from September to October 2022. On her fiftieth day Premiership of Liz Truss, in office, she stepped down amid October 2022 United Kingdom government crisis, a government crisis, making her the List of prime ministers of the United Kingdom by length of tenure, shortest-serving prime minister in British history. The Member of Parliament (United Kingdom), member of Parliament (MP) for South West Norfolk from 2010 to 2024, Truss held various Cabinet of the United Kingdom, Cabinet positions under three prime ministersDavid Cameron, Theresa May and Boris Johnsonlastly as Foreign Secretary (United Kingdom), foreign secretary from 2021 to 2022. Truss studied philosophy, politics and economics at Merton College, Oxford, and was the president of the Oxford University Liberal Democrats. In 1996 she ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeremy Hunt
Sir Jeremy Richard Streynsham Hunt (born 1 November 1966) is a British politician who served as Chancellor of the Exchequer from 2022 to 2024 and Foreign Secretary from 2018 to 2019, having previously served as Secretary of State for Health and Social Care from 2012 to 2018 and as Secretary of State for Culture, Olympics, Media and Sport from 2010 to 2012. A member of the Conservative Party, he has been the Member of Parliament for Godalming and Ash, formerly South West Surrey, since 2005. Hunt also served as Shadow Chancellor of the Exchequer in the Shadow Cabinet of Rishi Sunak from July to November 2024. The son of an Admiral of the Royal Navy, Hunt was born in Kennington and studied philosophy, politics and economics at Magdalen College, Oxford, where he was President of the Oxford University Conservative Association. He was first elected to the House of Commons in 2005 and was promoted to the Shadow Cabinet as Shadow Minister for Disabled People and later as Sh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Price Guarantee
The energy policy of the United Kingdom refers to the United Kingdom's efforts towards reducing energy intensity, reducing energy poverty, and maintaining energy supply reliability. The United Kingdom has had success in this, though energy intensity remains high. There is an ambitious goal to reduce carbon dioxide emissions in future years, but it is unclear whether the programmes in place are sufficient to achieve this objective. Regarding energy self-sufficiency, UK policy does not address this issue, other than to concede historic energy security is currently ceasing to exist (due to the decline of North Sea oil production). The United Kingdom historically has a good policy record of encouraging public transport links with cities, despite encountering problems with high speed trains, which have the potential to reduce dramatically domestic and short-haul European flights. The policy does not, however, significantly encourage hybrid vehicle use or ethanol fuel use, options wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kwasi Kwarteng
Akwasi Addo Alfred Kwarteng (born 26 May 1975) is a British politician who served as the Chancellor of the Exchequer from September to October 2022 under Liz Truss and the Secretary of State for Business, Energy and Industrial Strategy from 2021 to 2022 under Boris Johnson. A member of the Conservative Party, he was the Member of Parliament (MP) for Spelthorne in Surrey from 2010 to 2024. Kwarteng was born in London to Ghanaian immigrant parents and was educated at St Paul's Juniors, Eton College and the University of Cambridge where he was a student at Trinity College, Cambridge. He worked as a columnist for ''The Daily Telegraph'' and as a financial analyst before standing for election to the House of Commons of the United Kingdom, House of Commons. As a backbencher, Kwarteng co-authored a number of papers and books, including ''After the Coalition'' (2011) and ''Britannia Unchained'' (2012). In November 2018, Kwarteng was appointed Parliamentary Under-Secretary of State ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always second lord of the Treasury as one of at least six Lords Commissioners of the Treasury, lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
September 2022 United Kingdom Mini-budget
September is the ninth month of the year in the Julian and Gregorian calendars. Its length is 30 days. September in the Northern Hemisphere and March in the Southern Hemisphere are seasonally equivalent. In the Northern hemisphere, the beginning of the meteorological autumn is on 1 September. In the Southern hemisphere, the beginning of the meteorological spring is on 1 September. September marks the beginning of the ecclesiastical year in the Eastern Orthodox Church. It is the start of the academic year in many countries of the northern hemisphere, in which children go back to school after the summer break, sometimes on the first day of the month. Some Libras and Virgos are born in September, with Virgos being born on September 1st through September 22nd and Libras September 23rd through September 30. September (from Latin ''septem'', "seven") was originally the seventh month in the oldest known Roman calendar, the calendar of Romulus , with March being (Latin '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Truss Ministry
The Truss ministry began on 6 September 2022 when Liz Truss was invited by Queen Elizabeth II—two days before the monarch's death—to succeed Boris Johnson as prime minister of the United Kingdom. Johnson had resigned as leader of the Conservative Party the previous day after Truss was elected as his successor. The Truss ministry was formed from the 2019 Parliament of the United Kingdom, as a Conservative majority government. On 20 October 2022, amid growing disapproval of her leadership from within the Conservative Party, Truss announced her resignation, making her tenure the shortest in the history of the United Kingdom. She resigned as Conservative Party leader on 24 October and as prime minister on 25 October. The cabinet was dissolved following the appointment of Rishi Sunak as prime minister on 25 October. Cabinet September 2022October 2022 Changes * Kwasi Kwarteng was dismissed on 14 October 2022 after market turmoil following the Sep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suella Braverman
Sue-Ellen Cassiana "Suella" Braverman (; ''née'' Fernandes; born 3 April 1980) is a British politician and barrister who served as Home Secretary from 6 September 2022 to 19 October 2022, and again from 25 October 2022 to 13 November 2023. A member of the Conservative Party (UK), Conservative Party, she was chair of the European Research Group from 2017 to 2018 and Attorney General for England and Wales from 2020 to March 2021, and again from September 2021 to 2022. She has been the Member of Parliament (United Kingdom), Member of Parliament (MP) for Fareham and Waterlooville (UK Parliament constituency), Fareham and Waterlooville, previously Fareham (UK Parliament constituency), Fareham, since 2015. In the 2018 British cabinet reshuffle, January 2018 cabinet reshuffle, Braverman was appointed Parliamentary Under-Secretary of State for Exiting the European Union, parliamentary under-secretary of state for exiting the European Union by Prime Minister Theresa May. In November 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2021 United Kingdom Natural Gas Supplier Crisis
Starting from August 2021, high European wholesale natural gas prices started severely impacting the United Kingdom. Due to a combination of unfavourable circumstances, including soaring demand of gas in Asia, diminished gas supply from Russia to the European markets, low gas stockpiles, and a series of breakdowns at various electrical facilities, consumers in the United Kingdom faced steep increases in gas prices. Consumers, utility companies, and businesses dependent on carbon dioxide were all impacted. The crisis caused some smaller domestic suppliers in the United Kingdom to go out of business, affecting almost two million consumers as of 14 October 2021. Causes The primary cause of the price rises has been a surge in the wholesale price of natural gas worldwide. Domestic supply only covers about 40% of the United Kingdom's needs, while the rest is imported from neighbouring countries, such as Langeled pipeline, Norway and the Netherlands, and further afield in Qatar and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
