Britain will 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 out as expected and instead caused 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 financial watchdog and had to explain herself after a week of economic turmoil, according to CNN.

Prime Minister Liz Truss has acknowledged that there has been a “disruption” in the UK economy after the mini-budget.

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

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

Separate party

Under his leadership, the Conservatives have sunk lower in the polls than when Boris Johnson was the leader.

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

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

Even his supporters say privately that although they support his tax cuts, communication is poor 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 fell as the UK had to withdraw from the European Exchange Rate Mechanism.

Prime Minister John Major at the time never recovered from the crisis, and despite the economic recovery, 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 believe is right for this country,” Truss said.

Some Conservative lawmakers wanted 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 in Sun: – I would do something different. It involves difficult decisions and involves short-term disruption.

He reiterated 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 has to change

The Minister of Finance, Kwasi Kwarteng, wrote in the newspaper Telegraphthat he insisted that the November statement would include a “credible plan” to get the economy back on track, with a “commitment to discipline.”

– British taxpayers expect their government to work as efficiently as possible, and we will live up to that expectation, Kwarteng said.

But Senior Minister Simon Clarke told the newspaper Time that governments need to explain more about how they will control spending, as well as boost economic growth.

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

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

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

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

– Lizz Truss will be finished within this 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.

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

Iversen said that now, when the conservative national meeting begins this weekend, there will be lawmakers and politicians so angry that they don’t want to appear at the national meeting.

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