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Liz Truss will set out her plan to tackle soaring energy bills on Thursday, using her first significant act as UK prime minister to try to head off the intense pressure she faces to ease an historic cost-of-living crisis. [ABSTRACT FROM AUTHOR]

Prime Minister Liz Truss said she would set out her plan Thursday to help UK households and business facing soaring energy bills, as she ruled out funding the support package with a windfall tax on companies. [ABSTRACT FROM AUTHOR]

2672Z@LN, BUSINESS, CMD, COS, EUROPE, GEN, GOV, INDUSTRIES, NRG, POL, UK, UTI, WORLD Keywords: 2672Z@LN; BUSINESS; CMD; COS; EUROPE; GEN; GOV; INDUSTRIES; NRG; POL; UK; UTI; WORLD EN 2672Z@LN BUSINESS CMD COS EUROPE GEN GOV INDUSTRIES NRG POL UK UTI WORLD RH7OO5T1UM0W (Bloomberg) -- Liz Truss's campaign to be UK prime minister has appeared straightforward, with promises of tax cuts and optimism in the face of an economic crisis helping her to a comfortable poll lead over Rishi Sunak. [Extracted from the article]

On her first full day on the job, UK Prime Minister Liz Truss has managed to evoke the memory of Margaret Thatcher in at least one regard: the sterling-dollar exchange rate. [ABSTRACT FROM AUTHOR]

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The article reports on the positions expressed by candidates Liz Truss and Rishi Sunak on several issues in Great Britain as they campaign to become the next prime minister and head of the Conservative Party. Other topics include the economic challenges in the country like the high inflation, taxation, and economic stagnation, and the lead by Truss over Sunak to become the next prime minister.

The article discusses privileges and protection afforded to former prime ministers received by Liz Truss, former prime minister of the United Kingdom, despite her short-lived tenure as prime minister. Topics discused include complains of Truss about having little control in government shared by Tory ministers and helplessness within the Conservative Party, complains on having little say on foreign policy, and Taiwan visited by Truss since the former prime minister Margaret Thatcher in 1990s.

Despite her short tenure as Prime Minister, Liz Truss is eligible to claim a £115,000 ($129,306) per year allowance for the rest of her life. Truss's 44-day tenure qualifies her for the Public Duty Costs Allowance. Liz Truss's 44 Days in Office Net Her a £115,000 Yearly Stipend for Life. [Extracted from the article]

Like Berthold Brecht said ofthe Communist Party of East Germany: the party needs todissolve the people and elect a new one. After theRepublican Party in the USA, the Conservative Party is theoldest - and most successful - party in the world. [Extracted from the article]

No matter who replaces Liz Truss, the next British prime minister will inherit an economy damned for the immediate future by rising borrowing costs, crippling energy bills, high taxes and no strategy about how to revive growth. The race is already underway to succeed Truss, who exits Downing Street after her bid to deliver "growth, growth, growth" via unfunded tax cuts for the wealthy spectacularly backfired. [Extracted from the article]

The UK Conservative Party set a high bar for candidates to succeed Prime Minister Liz Truss to even get on the ballot paper. Truss said Thursday she was quitting as prime minister after a tumultuous and brief period in office in which she announced an economic package that roiled the financial markets before sacking her finance minister and backtracking on most of her planned tax measures. [Extracted from the article]

Sky Bet slashed odds to 4/1 on him making a sensational return to office after the Times reported the former prime minister is expected to stand in the Tory leadership contest. Rishi Sunak, who ran against Truss in the Conservative leadership election this summer, remains Sky Bet's favorite, with the bookmaker paying out £8.64 ($7.87) for every £5 bet on the ex-chancellor. [Extracted from the article]

Prime Minister Liz Truss is about to resign, Sky News reported, after a brief and chaotic tenure that saw her announce a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout. Her departure leaves the ruling Conservative Party badly damaged, languishing more than 30 points behind Labour in the polls after 12 1/2 years in power. [Extracted from the article]

Liz Truss Biographers Are "Back to the Rewrites" After Prime Minister Quits (Bloomberg) -- The authors of the first biography of Liz Truss are scrambling to update their manuscript after the UK prime minister resigned earlier today. Heale said he and Cole, the political editor of The Sun newspaper, started work on the book in August, when it looked like Truss might win the premiership after Boris Johnson resigned. [Extracted from the article]

Liz Truss quit as UK prime minister after a brief and chaotic tenure that saw her announce a massive package of tax cuts before unwinding most of it in the face of a market rout. Truss, 47, said she was resigning after just 44 days in office, and is set to become the shortest-ruling prime minister in British history. [Extracted from the article]

Truss, 47, quit after just 44 days in office, and will become the shortest-ruling prime minister in British history. Prime Minister Liz Truss resigned after a brief and chaotic tenure that saw her announce a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout. [Extracted from the article]

Truss, 47, quit after just 44 days in office, becoming the shortest-ruling prime minister in British history. Liz Truss resigned as UK prime minister after a brief and chaotic tenure that saw her announce a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout. [Extracted from the article]

Even in the context of Truss's already tumultuous premiership, the evening's events in the House of Commons were extraordinary, adding a new level of public humiliation for those who have to defend the floundering prime minister. Liz Truss's premiership looks close to imploding after she fired one minister over a security breach and two others were heard resigning amid the fallout from a chaotic parliamentary vote before agreeing to stay in their posts. [Extracted from the article]

On the face of it, Liz Truss's days as UK prime minister look numbered and her demise imminent. There are about 100 MPs on the ideological right of the party -- including ardent Brexiteers and supporters of Johnson -- who are determined to prevent a Sunak premiership. Blocking Sunak, Mordaunt An MP on the right of the party said they are backing "ABSOM" -- Anyone But Sunak Or Mordaunt. [Extracted from the article]

Truss Penalty Has Halved, Still £10 Billion a Year for UK (Bloomberg) -- A semblance of calm is returning to UK markets after Prime Minister Liz Truss appointed Jeremy Hunt as Chancellor and backtracked on most of her mini-budget plans. Bloomberg Economics now puts the cost of the interest-rate penalty that emerged since early September at a bit more than £10 billion a year by 2025, compared with an eye-watering bill of above £20 billion at the most chaotic moment of the crisis late last month. [Extracted from the article]

Leadership Contest If Truss were to lose a confidence vote, or if she accepts that her authority has gone and simply resigns, the next step would be a third Tory leadership contest since 2019. Liz Truss's UK premiership hangs in the balance after she was forced to abandon large swathes of her economic agenda and ditch her chancellor following a market rout. [Extracted from the article]

Truss and Hunt meet on Sunday at Chequers, the prime minister's country residence in Buckinghamshire. Chancellor of the Exchequer Jeremy Hunt said nothing is "off the table" when asked if he will abandon more of Prime Minister Liz Truss's tax-cut plans, confirming that his is now the leading government voice on UK fiscal policy. [Extracted from the article]

Chancellor of the Exchequer Jeremy Hunt said nothing is "off the table" when asked if he will abandon more of Prime Minister Liz Truss's tax-cut plans, confirming that his is now the leading government voice on UK fiscal policy. Hunt also said he has no desire to succeed Truss if she is ousted by the ruling Conservative Party, amid widespread reports of Tory MPs calling for a change of leadership. [Extracted from the article]

(Bloomberg) -- Chancellor of the Exchequer Jeremy Hunt won a crucial endorsement from the Bank of England for his plan to stabilize the UK's strained public finances that leaves Prime Minister Liz Truss looking increasingly marginalized. Less than 24 hours after he was pulled from the backbenches to rescue Truss's crumbling government, 55-year-old Hunt announced he was effectively ditching the premier's dash-for-growth strategy and had spoken to BOE Governor Andrew Bailey to secure his backing. [Extracted from the article]

Front Runners After coming second to Truss in this summer's Tory Party leadership election, Rishi Sunak is now Sky Bet's favorite to take over if the premier is forced out. Liz Truss's faltering resolve on her economic plans amid market turmoil and a clamor from her own Conservative Members of Parliament to reverse course has left the UK prime minister's position looking increasingly precarious. [Extracted from the article]

Prime Minister Liz Truss overruled Chancellor Kwasi Kwarteng's intention to appoint a high-profile outsider as the UK Treasury's top civil servant, another step by the government to calm market turmoil and stabilize the mutinous Conservative Party. Read more: UK Treasury and BOE Step Up Action to Reassure Rattled Markets Kwarteng Heads to IMF With Alarm Bells Recalling 1976 Bailout Ousting of UK Treasury Official is Early Sign of Truss's Intent ©2022 Bloomberg L.P. [Extracted from the article]

Before the U-turn, Gove said the mini-budget gave the impression the government was prioritizing the wealthiest earners. (Bloomberg) -- Britons' anger over inequality is shaping the agenda at the ruling Conservative Party's annual conference in Birmingham, limiting the options for Liz Truss. [Extracted from the article]

Opinion polls show only 12% expects Truss to be a good prime minister, while only 21% of the public "like" Truss. P#55#P On 20th July 2022, the final MP Ballot left Liz Truss and Rishi Sunak as the front runners for the Conservative Leader and Prime Minister of the UK. [Extracted from the article]

Truss Tries to Soothe Angry Britons Citing "Clear Plan" (Bloomberg) -- Beleaguered UK Prime Minister Liz Truss said her government has a "clear plan" to fix the root cause of an energy crisis that has fueled skyrocketing inflation, in an effort to win public support for policies that prompted more than half of Britons to call for her resignation. It involves difficult decisions and does involve disruption in the short term", Truss wrote in The Sun newspaper. [Extracted from the article]

(Bloomberg) -- Liz Truss's fiscal plans have already turned investors against her and handed the Labour Party a massive lead in opinion polls. Building Over the Countryside They may not have captured the headlines amid the market turmoil, but other plans from the Truss government could also upset her voters. [Extracted from the article]

More than half of Britons think Liz Truss should quit as UK premier, according to a YouGov poll that adds to her woes less than a month into the job. The YouGov poll also showed Truss is also hemorrhaging support among those who voted Conservative at the last general election in 2019. [Extracted from the article]

(Bloomberg) -- Prime Minister Liz Truss is under pressure to cut spending on the same scale as George Osborne's infamous austerity drive of 2010 in order to stabilize the UK public finances and win back the confidence of investors. Truss and Kwarteng are already on thin ice there after the OBR was sidelined for last week's fiscal announcement. [Extracted from the article]

It may seek further savings by setting out plans to shrink the wider public sector workforce, which ballooned by 250,000 to 5.5 million over the pandemic -- pushing the annual wage bill up by 20% to £165 billion. (Bloomberg) -- Prime Minister Liz Truss is under pressure to cut spending on the same scale as George Osborne's infamous austerity drive of 2010 in order to stabilize the UK public finances and win back the confidence of investors. [Extracted from the article]

(Bloomberg) -- UK financial markets have been plunged into chaos since the government announced £160 billion ($174 billion) of unfunded tax cuts last Friday. The pound has hit a record low against the dollar, gilt yields have spiked and on Wednesday the Bank of England pledged unlimited buying of long-dated bonds to avert an imminent market crash. [Extracted from the article]

Liz Truss said she is sticking with her plan for a huge set of unfunded UK tax cuts, and blamed Russia's war in Ukraine for the market fallout since the government's fiscal package was announced last week. UK government bonds extended a slide as Truss spoke, with the yield on 10-year gilts surging as much as 21 basis points to 4.22%. [Extracted from the article]

A hard winter is coming, but Britain's new prime minister, Liz Truss, is showing the way to a brighter spring. The U.S. should follow suit, but won't—for now. [ABSTRACT FROM AUTHOR]

(Bloomberg) -- Liz Truss's plan for growth, melding the biggest tax giveaway in half a century with Thatcherite deregulation, is a straight-up gamble with Britain's future, and even before her chancellor of the exchequer had finished delivering it on Friday the bet was starting to sour. The reaction leaves Truss and Kwarteng in a terrible bind. [Extracted from the article]

Copyright of TextilWirtschaft Online is the property of dfv Mediengruppe and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

(Bloomberg) -- Subscribe to In The City on Apple podcastsSubscribe to In The City on Spotify While Liz Truss's economic agenda has markets worried, many in the City of London are convinced the new prime minister and her cabinet will champion the financial services industry in a way that hasn't been the case for some time. Grimstone also discusses his relationship with the new chancellor, Kwasi Kwarteng, and shares his views on the importance of the City minister position and what role it plays in unlocking the industry's potential. [Extracted from the article]

(Bloomberg) -- Liz Truss's UK cabinet includes more ministers who attended private schools than under her two predecessors, according to a study. It's an attack line that the Conservative Party frequently uses against the main opposition Labour Party and did so again in Prime Minister's Questions on Wednesday, when a Tory MP pointedly asked Truss why all three of the UK's female leaders have come from their side of the political divide. [Extracted from the article]