Since British Chancellor of the Exchequer Jeremy Hunt pushed back this year's autumn statement (expected “mini budget”) --from Halloween to 17 November--. Bank of England who are meeting on 3 November have been left without guidance as to the government's tax and spending policies.
Britain's newly-appointed Prime Minister Rishi Sunak Wednesday announced he was postponing the presentation of his plan to curb the country's current crisis and set Nov. 17 instead of Oct. 31 for the official launch.
US President Joseph Biden and UK Prime Minister Rishi Sunak Wednesday agreed to support Ukraine against Russia's invasion and to stand up to China's expansionist policies.
Downing Street has confirmed Prime Minister Rishi Sunak will hold his first cabinet meeting at 9.30 am. It comes a day after the new prime minister sacked or replaced nearly a dozen of Liz Truss's top-tier ministers, including Jacob Rees-Mogg, Brandon Lewis, and Kit Malthouse.
British Conservative Party leader Rishi Sunak has been sworn in as the new Prime Minister by King Charles III following Liz Truss' departure after merely 49 days in office.
Rishi Sunak, the grandson of Indian immigrants, was nominated Monday by the British Conservative Party to replace Liz Truss as its leader and next prime minister, as his rival, Leader of the House of Commons Penny Mordaunt, failed to win enough support to run.
Former British Prime Minister Boris Johnson has stepped down from the Conservative Party race to succeed Liz Truss citing the lack of unity among his own ranks.
Liz Truss announced on Thursday she will resign, which means there will now be another leadership election to decide who becomes the next Conservative leader and prime minister. The contest to replace “the lettuce” as some London media identifies Ms Truss sis expected to be completed by the end of next week.
Foreign Secretary Liz Truss beat former Chancellor of the Exchequer Rishi Sunak by 81,326 votes to 60,399 and will thus become the British Conservative Party's New Leader who is to be appointed Prime Minister Tuesday by Queen Elizabeth II in Balmoral Castle.
Foreign, Commonwealth, and Development Secretary Mary Elizabeth Truss, who this week most probably will become the United Kingdom´s next prime minister has pledged to act within a week to tackle the cost-of-living situation, fueled by soaring energy bills and food prices, arguing she understands the magnitude of problems faced by the country.