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Hollow imitation of the original 'Iron Lady'

China Daily | Updated: 2022-10-13 07:56
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British Prime Minister Liz Truss speaks on stage at Britain's Conservative Party's annual conference in Birmingham, Britain, Oct 5, 2022. [Photo/Agencies]

The latest opinion poll in the United Kingdom shows the opposition Labour Party, with 52 percent support, is well ahead of the ruling Conservative Party with an approval rate of only 22 percent. In addition, 53 percent of those surveyed said that Prime Minister Liz Truss should resign as leader of the government.

If an early election were held now, Truss' premiership would in all likelihood come to an end.

More than anything else, Truss needs time to shine some light into the "dark hour" that has caused the downfall of every Conservative prime minister since the referendum on withdrawing from the European Union. As such, she is unlikely to call an early election.

Truss' first major setback after taking office was being forced to do a U-turn on the budget plan she proposed, which included no tax for the wealthy. Stimulating the economy by cutting taxes was the economic policy of Ronald Reagan and Margaret Thatcher in the 1980s. But the problem is that with the economy in dire shape, inflation high and the poor struggling, another tax cut for the rich would provoke public outrage and reduce government tax revenues.

Speaking ahead of the Conservative Party's annual conference, Truss said that she would never reverse the tax cuts plan. But on Oct 3, the second day of the meeting, UK Chancellor of the Exchequer Kwasi Kwarteng issued a statement announcing that the government was formally withdrawing its proposed tax plan.

The UK is indeed in the same position as it was under the Thatcher government, experiencing weak economic growth and high inflation. But a bigger challenge today is the need to re-establish Britain's economic ties with the world's major economies after Brexit. The legacy of Brexit is emerging, as the UK's unsettled disputes with the EU and problems with Northern Ireland and Scotland are intertwined now.

After nearly one and a half months in office, Truss has not only not carried out the measures she promised to bail out the UK economy, she also remains vague about her vision for the future of the country — what kind of country it should be and what role it should play in the world.

In her speech to the Conservative Party conference, Truss only called for change, without saying how. The ship of the UK is shrouded in fog, and the captain urgently needs to set a course to sort the mess the country is in. Something that may well be beyond Truss' capabilities.

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