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After 39 days in office the UK Prime Minister Liz Truss has done a dramatic U-turn on her tax-cut plans in an effort to reassure financial markets. She has also dropped her close ally Kwasi Kwarteng as UK finance minister, replacing him as Chancellor with former Health Secretary Jeremy Hunt. Hunt backed Rishi Sunak in the recent Tory leadership contest.
Tim Bale is Professor of Politics at Queen Mary University of London. Books he has written or co-written include The Conservative Party from Thatcher to Cameron and The Conservatives since 1945: the Drivers of Party Change. His latest, out early next year, is The Conservative Party after Brexit.
Britain's Prime Minister Liz Truss holds a press conference in the Downing Street Briefing Room, following the sacking of the finance minister in response to a budget that sparked markets chaos. Photo: AFP/Daniel Leal
