Sunday, June 8, 2025
No Result
View All Result
newshub
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
No Result
View All Result
newshub
No Result
View All Result
ADVERTISEMENT

Who is the UK’s new prime minister and why has she replaced Boris Johnson?

2022/09/05/16:20
in Financial insights
Reading Time: 6 mins read
236 18
A A
Who is the UK’s new prime minister and why has she replaced Boris Johnson?
MSTRpay MSTRpay MSTRpay
ADVERTISEMENT

The United Kingdom’s next prime minister will be Liz Truss. After a two-month contest, Conservative Party members have chosen her as their new leader. All that remains is for Truss to travel to Balmoral in Scotland where she will be formally invited by the Queen to form a government.

Truss will become the Conservatives’ fourth leader and prime minister in just over six years. She’s Queen Elizabeth’s fifteenth prime minister, and the third woman to hold the job.

Her rapid rise to the top started in 2010 when she was first elected to Parliament. Four years later, she joined David Cameron’s cabinet as environment secretary. She went on to serve as justice secretary and then chief secretary to the Treasury under Theresa May, and as international trade secretary and foreign secretary under Johnson.

Truss is an avowed economic libertarian. She enthusiastically supported remaining in the 2016 referendum on the UK’s membership of the EU but subsequently became a born-again leaver. She has preached the benefits of Brexit and adopted a notably hawkish stance against Russia over its invasion of Ukraine.

Truss’s brand of economic libertarianism, political optimism and hawkishness proved decisive in the 2022 leadership contest. Despite a number of gaffes and U-turns, her tax-cutting agenda, coupled with her erstwhile loyalty to Johnson, gave her a substantial edge over Sunak.

As the new prime minister, Truss faces a number of daunting challenges: rampant inflation, eye-watering energy costs, deteriorating public services, ongoing industrial action and an independence-minded government in Scotland. Overseas, she must contend with the war in Ukraine and troubled relations with the European Union.

Why did Boris Johnson resign?

Truss will replace Boris Johnson, who was compelled to step down as Conservative leader and prime minister in July. A mass resignation of around 60 ministers and other political appointees, including Sajid Javid, the health secretary, and Rishi Sunak, the chancellor of the exchequer, came in protest to Johnson’s mishandling of a scandal involving Chris Pincher, the government’s former deputy chief whip.

He resigned from that role after being accused of sexually assaulting two men at a private members club. Pincher said he had “drunk far too much” and embarrassed himself, but denied the accusations and remains an independent MP. Further historic allegations of sexual misconduct emerged, raising questions about what Johnson knew, and when.

Downing Street initially denied that Johnson had been aware of these allegations when appointing Pincher as deputy chief whip. This denial was later shown to be false. Johnson also faced criticism for not immediately suspending Pincher from the party, only doing so after coming under intense pressure from within his own ranks.

But Johnson’s hold on power was tenuous even before the Pincher affair. A string of scandals demonstrated his lax approach to standards in public life. A number of Conservatives had called on him to resign over partygate – revelations about boozy gatherings in Downing Street in defiance of COVID restrictions, which ultimately led to police fines for Johnson and his wife.

Johnson’s own conduct had become both distracting and cumulatively indefensible. No less than 41% of Conservative MPs voted against him in a no-confidence vote at the beginning of June.

Johnson’s perceived lack of direction was a second source of discontent. He could claim to have “got Brexit done”, but what was his government going to do next? There was much talk of “levelling up” but little of practical substance. The problems were compounded by the looming cost-of-living crisis and the apparent chaos of his Downing Street operation.

Lastly, Johnson had come to be seen as an electoral liability. The Conservatives had been behind Labour in the opinion polls since the end of 2019 and more recently had lost a string of byelections to Labour and the Liberal Democrats. Conservative MPs, especially in marginal seats, were worried.

The Pincher affair proved fatal for Johnson because it tapped directly into these sources of discontent. Johnson’s supporters claimed he was stabbed in the back by his own party – but after repeated stumbles, he had simply tripped onto his own sword.

Why hasn’t there been an election?

The choice of Johnson’s successor was always going to be a matter exclusively for the governing Conservative party. The UK is a parliamentary system in which the government of the day is formed by whoever can command the confidence of the House of Commons. In practice, this usually means the leader of whichever party won a majority of seats at the last general election.

Whenever a prime minister steps down midway through a parliament, there is no constitutional need to hold a new general election. Instead, the incumbent governing party chooses a new leader and thus the new prime minister.

“Takeover” prime ministers who assume office in this way are not unusual. Since 1945, eight premierships began with victory in a general election, while nine started midway through a parliament.

Political parties have their own rules about how to select a new leader. Before 1965, new Conservative leaders emerged from consultations with senior party figures. From then until 1998, new leaders were chosen exclusively by Conservative MPs. Thereafter, they have been elected via a two-stage process in which MPs select two candidates, and then party members – for the Conservatives, around 180,000 dues-paying members – make the final choice.

Eight candidates participated in the first stage of the contest to replace Johnson. After five rounds of voting among Conservative MPs, Sunak, the former chancellor, came top with 137 votes (38.3%), Truss, then foreign secretary, came second with 113 votes (31.6%), and Penny Mordaunt, minister of state for trade policy, was eliminated from the running with 105 votes (29.3%)

There then followed a ballot of party members, with Sunak and Truss spending much of July and the whole of August appealing for support. In the end, Truss beat Sunak by 57% to 43%.

Rishi Sunak and Liz Truss smile and stand side by side on a stage after a campaign event
After Conservative MPs narrowed the pool down, Conservative party members chose between former chancellor Rishi Sunak and foreign secretary Liz Truss for their next leader. Neil Hall / EPA-EFE

What happens next?

Truss’s immediate task will be to form a government. Who she includes in her cabinet will set the tone for her relations with her party. Truss won the leadership because she was the Conservative members’ choice – not her MPs’ preferred candidate. Any honeymoon period could be brief, especially if the Conservatives continue to languish behind Labour in the polls.

Above all, Truss will need to manage her party’s expectations about the next general election. Every takeover prime minister is greeted by calls for an immediate election on the constitutionally spurious grounds that they haven’t been elected.

At the same time, takeover prime ministers want their own mandate from voters. It enhances their authority, and it enables them to start with a fresh set of manifesto commitments.

Truss has the power to call a general election at will. If the Conservatives enjoy a sustained bounce in the polls, Truss will need to calculate whether it’s better to go to the country sooner, in the knowledge that the economic situation might deteriorate, or to wait until the last minute, in the hope that things might improve.

If there is no such boost, those calculations will be moot, and the 2019 parliament is likely to run a full term. Voters will then have their chance to pass a verdict on Britain’s new prime minister no later than January 2025.

Source: The Conversation

Related Posts

5 of today’s most read: Global markets in chaos as tariff war explodes
Financial insights

Global markets closed mixed as US jobs data and trade tensions shape sentiment

by newshub
21 hours ago

On Friday, 6 June 2025, global stock markets closed with mixed results, driven by a combination of a stronger-than-expected US...

Read moreDetails
European markets open cautiously amid global optimism

European markets edge lower after ECB rate cut and political shocks

2 days ago
Auto DUS – Falling stocks, climbing mortgage rates: how 5% Treasury yields could roil marketsraft

Markets await jobs data as Asia mixed and ECB hints at pause

2 days ago
EU-UK relations: Council greenlights extension of current rules of origin for electric vehicles until the end of 2026

Markets steady as Europe opens quietly and Wall Street braces for tech data

3 days ago
Asian shares fall as China protests, lockdowns cloud outlook

Asia mixed as Europe awaits ECB, US eyes data

3 days ago
Wall Street selloff caps brutal week for markets as Trump tariffs rattle investors

Wall Street hesitates as jobs data disappoint and trade tensions rise

4 days ago
No Result
View All Result

Recent Posts

  • Dior appoints Jonathan Anderson as sole Creative Director in bold creative shift
  • Vasyl Malyuk: The ‘Bulldog’ behind Ukraine’s Spiderweb strikes on Russian airfields
  • ‘Full porting Bitcoin’ could be Musk’s Trump card in escalating feud
  • Giant ‘doomsday’ oarfish washes up on Tasmania’s remote west coast
  • Carney invites Modi to G7 amid unresolved tensions over Sikh activist’s killing

Recent Comments

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Recent Posts

    • Dior appoints Jonathan Anderson as sole Creative Director in bold creative shift
    • Vasyl Malyuk: The ‘Bulldog’ behind Ukraine’s Spiderweb strikes on Russian airfields
    • ‘Full porting Bitcoin’ could be Musk’s Trump card in escalating feud
    • Giant ‘doomsday’ oarfish washes up on Tasmania’s remote west coast
    • Carney invites Modi to G7 amid unresolved tensions over Sikh activist’s killing

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    newshub

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure

    • Global news
    • Financial insights
    • Fin & tech
    • Climate & energy
    • Lifestyle
    • WEX

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Global news
    • Financial insights
      • Africa
      • Asia
      • Australia
      • Central Banks
      • China
      • Commodities
      • Europe
      • Banking
      • Corporate
      • Neobanking
      • Investment
      • Japan
      • South East Asia
      • Stock of the week
      • UK
      • US
    • Fin & tech
      • AI
      • Blockchain
      • Crypto
      • MSTRpay
      • Tech
    • Climate & energy
      • Climate
      • Carbon
      • Coal
      • Disruptive
      • Gas
      • Nuclear
      • Oil
      • Solar
      • Water
      • Waves
      • Wind
      • Renewable
      • South America
    • Lifestyle
      • Best chefs
      • Cocktail of the week
      • History
      • Influential women
    • WEX
      • Alt Kap Holding AB
      • Digital Network Holding, Inc.
      • Fantas-E AB
      • International Clean Energy Inc.
      • Intritum Partner Limited
      • Intritum Recycling GH Limited
      • MSTRpay AB
      • SWAP Services, Inc.
      • VMT Holding, Inc.
      • Universal Streaming Technologies – USTA
      • TC Unterhaltungselektronik AG

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure