Britain would stumble into a financial crisis.

It started with the pound falling to its lowest level in decades after the government presented its mini-budget last Friday.

The budget contained, among other things, the biggest tax cuts in 50 years, which did not work as expected and instead led to chaos and a downturn in financial markets.

Will keep the iron grip

After the mini-budget was presented, Prime Minister Lizz Truss finally had to meet the UK’s independent comptroller and had to explain himself after a week of economic turmoil, according to CNN.

Prime Minister Liz Truss acknowledged that there had been a “disruption” in the British economy following the mini-budget.

he wrote Sun and said he had “acted decisively” and would maintain an “iron grip” on state finances.

This weekend he heads to Birmingham for his Conservative Party’s annual conference, a gathering that could be a defining moment for Truss as Prime Minister.

Separate party

Under his leadership, the Conservative Party slumped lower in the opinion polls than when Boris Johnson was leader.

Nearly four weeks after Truss took over from Jonson, 51 percent of those asked believed he should be replaced by someone else, a recent survey showed.

Conservative lawmakers fear a combination of tax cuts, rising inflation, rising interest rates and a falling pound, along with heavy spending to help people with energy bills, will make it impossible to win the next election.

Even his supporters say privately that while they support his tax cuts, communication is abysmal and they fear he will never recover from his bad start. according to CNN.

Many compare it to Black Wednesday in 1992, when the pound plunged because Britain had to withdraw from the European Exchange Rate Mechanism.

Then-Prime Minister John Major never recovered from the crisis, and although the economy recovered, he lost the next election in 1997.

– Not everyone will like what we do

For now, no one expects the government to reverse its policies.

– Not everyone will like what we are doing, but I want to reassure the public that the government has a clear plan that I think is right for the country, said Truss.

Some Conservative lawmakers want to see this early to calm financial markets after volatile trading.

The Ministry of Finance argues that it will have to wait until further changes are announced.

Truss wrote Sun: – I would do things differently. It involves difficult decisions and involves short-term distractions.

He reaffirmed his commitment to “boost economic growth”, with plans to stimulate growth expected to include measures in eight areas – business regulation, agriculture, housing and planning, immigration, mobile and broadband, financial services, childcare and energy.

– That’s got to change

Its finance minister, Kwasi Kwarteng, wrote in the paper Telegraphthat he insisted the November statement would include a “credible plan” to get the economy back on track, with a “commitment to exercise discipline.”

– British taxpayers expect their government to work as efficiently as possible, and we will meet those expectations, said Kwarteng.

But Senior Minister Simon Clarke told the newspaper Time that the government needs to explain more about how to control spending, as well as promote economic growth.

– We have acquired spending habits that exceed our ability to pay for them. That must change, he said.

He suggested that the government is looking to make significant cuts in public spending.

“I think it’s important for us to look at very large states, and see how we can ensure that they fully align with a lower tax economy,” said Clarke.

Truss confirmed on Thursday that he was seeking government-wide cuts as a way to pay for mini-budget measures.

– The Lizz Truss will be finished in a year

TV 2 reporter Tonje Iversen was in London where he got the reaction up close. For example, it must be said Newspaper “in” that conservative politicians are furious.

– The Lizz Truss will be finished within this year, sources told the newspaper.

Iversen said that when the conservative national rally starts this weekend, there will be lawmakers and politicians who are so irritated they won’t attend the national meeting.

– There is a bit of chaos in the conservative party, Iversen told TV 2.