UK Chancellor of the Exchequer brings forward his return to the UK amid controversy over tax plan

The British Finance Minister, Kwasi Kwarteng, has suspended his visit to the United States and brought forward his return to the United Kingdom to try to resolve in person the controversy opened by the fiscal plan, amid rumors of an internal rebellion within the ‘Tories’ and of a possible twist in the first major economic program of the Liz Truss era in Downing Street.

Officially, Downing Street maintains confidence in Kwarteng, who would be doing “an excellent job”, according to sources consulted by Downing Street. The head of International Trade, Greg Hands, has also defended that his return from Washington “is not unusual”, in an interview to Sky News with which he tried to take the heat off the matter.

Read:  China suspends import of citrus and two types of fish from Taiwan and bans sand exports to the island

However, Kwarteng’s sudden abandonment of the meeting of ministers of the International Monetary Fund (IMF) has only encouraged those who are calling on the Government, both from the opposition and from the Conservative Party, to solve the controversy of recent weeks with resignations or political turns.

The Executive put on the table tax cuts worth 45 billion pounds that have not convinced neither the financial nor the political environment. Truss was already forced to withdraw in a matter of days the proposal to lower the tax rate for large fortunes from 45 to 40 percent.

Read:  Russia orders expulsion of Romanian embassy employee in Moscow in response to sanctions

Kwarteng “wants to talk not only with colleagues in the government, but also with MPs,” a source in his entourage told the BBC. Some are already calling for his head and, according to the newspaper ‘The Times’, there is already a plan in the shadows to replace Truss with a tandem of leaders: the deputies Rishi Sunak and Penny Mordaunt, second and third in the last Conservative primaries.

The Best Online Bookmakers April 18 2024

BetMGM Casino