Is UK Prime Minister Liz Truss in trouble? | Business and Economy

Video Duration 25 minutes 40 seconds 25:40

From: Inside Story

Liz Truss sacked her Chancellor after only a few weeks in office, and reversed major economic policies.

The United Kingdom’s new chancellor says he did not vote for Prime Minister Liz Truss but supports her economic plans.

Jeremy Hunt was appointed after Truss sacked his predecessor, Kwasi Kwarteng, just six weeks into the job.

His tax-cutting mini-budget, financed through billions in increased borrowing, led to outrage and protests. And with increasing pressure on the prime minister, Truss did another U-turn on Friday.

She announced the corporation tax would rise from 19 percent to 25 percent next April – rather than staying at the current level as promised by Kwarteng in his mini-budget.

So how will Truss face her challenges?

Presenter: Emily Angwin

Guests: 

Afzal Khan – Labour member of the UK Parliament and a former Member of the European Parliament

Ann Pettifor – Economist who regularly advises governments and author of, The Case for the Green New Deal

Tobias Ellwood – Conservative member of the UK Parliament and chair of the UK House of Commons Defence Select Committee