If you are British, or have looked our way over the past few weeks, you may have noticed that all is not well in Westminster. Actually, things are going very wrong for the government, very quickly.
What's going on?
Well it all started when the Conservatives ousted Boris Johnson as their leader and as Prime Minister for being an incorrigible scandal magnet. The various leadership candidates were all various shades of awful, but one of the worst was the haunted Skyrim NPC Liz Truss, who won over the Tories with her unhinged right wing views, demands for aggressive tax cuts, and whiteness. After a brief diversion due to the death of the Queen, the new Chancellor of the Exchequer, Kwasi Kwarteng, announced a "mini-budget" that would aggressively cut taxes for the rich, slightly cut taxes for everyone else, and pay for the budget deficit by borrowing loads of money. This caused the value of the pound to significantly fall, and the value of government treasury bonds to also be devalued. The Bank of England was forced to step in to purchase large amounts of bonds in order to bail out the major pension funds, which were at risk of failing. The media tends to give the Tories a fairly easy ride but sending the whole economy up the spout was too much even for them, and the government suddenly had to answer a lot of awkward questions about what the fuck they thought they were playing at. On Friday the Chancellorwas sacked persuaded to resign, and in his resignation letter basically blamed the Prime Minister for everything, and Truss gave one of the worst press conferences in the history of political communications. Truss has now appointed a new Chancellor, the vigorously unexciting Jeremy Hunt, whose first action in the role has been to U turn on Truss's entire economic policy and herald a new age of austerity. The Conservatives have absolutely plunged in opinion polling over the course of their self created crisis. They were already behind when Truss took office, but they've fallen from the poor 31% they had then to a truly catastrophic 24%.
What next?
Some Tory MPs are now pretty much openly plotting to have the Prime Minister removed, even though under party rules technically a vote of no confidence can't be held for a year after she took the job, and other MPs think it would be insane to start their second leadership contest in a year, but the next general election is still two years away, giving Truss a lot of room to do even more damage to their party in the meantime. This is all very funny on the level that the Conservatives are finally digging themselves into an inescapable hole, but not funny at all on the level that they're going to take Britain with them.
What's going on?
Well it all started when the Conservatives ousted Boris Johnson as their leader and as Prime Minister for being an incorrigible scandal magnet. The various leadership candidates were all various shades of awful, but one of the worst was the haunted Skyrim NPC Liz Truss, who won over the Tories with her unhinged right wing views, demands for aggressive tax cuts, and whiteness. After a brief diversion due to the death of the Queen, the new Chancellor of the Exchequer, Kwasi Kwarteng, announced a "mini-budget" that would aggressively cut taxes for the rich, slightly cut taxes for everyone else, and pay for the budget deficit by borrowing loads of money. This caused the value of the pound to significantly fall, and the value of government treasury bonds to also be devalued. The Bank of England was forced to step in to purchase large amounts of bonds in order to bail out the major pension funds, which were at risk of failing. The media tends to give the Tories a fairly easy ride but sending the whole economy up the spout was too much even for them, and the government suddenly had to answer a lot of awkward questions about what the fuck they thought they were playing at. On Friday the Chancellor
What next?
Some Tory MPs are now pretty much openly plotting to have the Prime Minister removed, even though under party rules technically a vote of no confidence can't be held for a year after she took the job, and other MPs think it would be insane to start their second leadership contest in a year, but the next general election is still two years away, giving Truss a lot of room to do even more damage to their party in the meantime. This is all very funny on the level that the Conservatives are finally digging themselves into an inescapable hole, but not funny at all on the level that they're going to take Britain with them.
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