According to Sky News Arabia, Boris Johnson is expected to run for re-election as the leader of the country’s ruling conservatives, according to a story in today’s Times newspaper.
Six weeks after taking office, Liz Tarras, the British Prime Minister, made the decision to step down.
According to the BBC, Tarras informed her in a speech that elections for the leadership will take place in a week.
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.
The yield on British government bonds has grown for five years to its highest level since 2008, at 4.6%, following the announcement of the plan. This increase has resulted in a decline in the market for debt bonds, and the pound has dropped to its lowest level ever, at $1.054.
The Times: Boris Johnson’s re-election bid as head of the country’s ruling Conservative Party
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