According to news sources, the majority of Conservative Party lawmakers supported British MP Rishi Sonak today, Monday.
Six weeks after taking office, Liz Tarras, the British Prime Minister, made the decision to step down.
In a speech to her, Tarras said that there will be leadership elections within a week, according to the BBC.
Following party leader Jake Perry, the 1922 committee chairman Sir Graham Brady entered the Downing Street offices to speak with the Prime Minister in a time of crisis.
The British Prime Minister stated that she had notified the monarch of his decision to step down as the Conservative Party’s leader and that she would “continue to discharge her duties until the appointment of a new leader of the Conservative Party.”
Terrace, who held the role of prime minister for the shortest time in British history (just 45 days), will continue in office for a while before a replacement is named for her.
The Terrace administration’s economic strategy, which demonstrated its inability to control inflation and excessive prices and also presented issues about the growth of the public debt, received harsh criticism.
On September 23, the then-Treasury Secretary Kawasi Kawarting, who was forced to resign last Friday in the wake of a widespread outcry, revealed the so-called “miniature budget.” Later, the administration scrapped the proposal.
After announcing the plan, the return on British government bonds has increased for five years to its highest level since 2008, at 4. 6%, which means decreasing demand for debt bonds, and the pound has decreased to its lowest level ever at $ 1. 054..
The majority of Conservative Party deputies back Rishi Sonak in this election.
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