Truss Under Pressure
Annual inflation in the UK rose 10.1% in September, returning to its fastest pace since 1982 and matching year-over-year inflation in July as the nation grapples with rising costs of living. The figure comes as UK Prime Minister Liz Truss faces opposition from her Conservative Party over a failed $50B tax cuts package.
Truss, who went before parliament yesterday for the first time since new Finance Minister Jeremy Hunt dropped much of her unfunded tax plan, apologized for
what she said were mistakes made during her short time in office so far (see timeline). Members of parliament called on Truss to resign, to which Truss said, "I am a fighter, not a quitter." Watch the tense Q&A session here.
Separately, Home Secretary Suella Braverman resigned yesterday after 43 days in office for breaching rules by sending an official document from her personal email address. Braverman also cited concerns about the government's unfulfilled policy pledges.