UK Treasury chief in position of power as PM Truss struggles
2 years, 2 months ago

UK Treasury chief in position of power as PM Truss struggles

Associated Press  

LONDON — As British Prime Minister Liz Truss struggles to retain her authority, one man is seen to be in the real position of power to restore order and credibility to the Conservative government and limit the damage caused by Truss’ economic plans. Jeremy Hunt, named Britain’s new Treasury chief three days ago, on Monday sought to calm jittery markets and angry Conservative lawmakers as he announced he was reversing the bulk of Truss’ tax-cutting economic stimulus package, which has left the U.K. in political and financial chaos since it was unveiled three weeks ago. Hunt was Britain’s longest-serving health secretary, holding the post from 2012 to 2018 under former Conservative prime ministers David Cameron and Theresa May. Hunt is now seen as the most powerful person in government, with one of his allies, Conservative lawmaker Steve Brine, last week likening him to the “chief executive” of the government while Truss remains as “chairman.” But Hunt has brushed off speculation that he would put himself forward again for the top job.

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