Yahoo Movies Where Is Liz Truss? Calls To Recall Parliament As Bank Of England Steps In
Britain's Prime Minister Liz Truss. (Photo: WPA Pool via Getty Images)
Members of the public demanded to hear from Liz Truss today after the Bank of England announced an emergency intervention.
Leaders of the main opposition parties also called for parliament to be recalled amid the “rapidly deteriorating economic crisis”.
The Bank stepped in on Wednesday to calm the markets after chancellor Kwasi Kwarteng’s tax-cutting mini-budget caused the pound to slide.
The major intervention in Britain’s financial markets is designed to head off a “material risk to UK financial stability”.
Where the hell is the Prime Minister? Stop hiding @trussliz and face the hideous financial chaos music you’ve unleashed.
— Piers Morgan (@piersmorgan) September 28, 2022
It is a highly unusual move that will see the Bank buying long-term government debt to tackle a surge in the cost of borrowing, which it said risked “contagion” to households and businesses.
The announcement has prompted calls for the prime minister to address the public about her decisions.
Truss has not spoken publicly in the six days since her government announced the biggest tax cuts for 50 years.
Government sources say there are no plans for Liz Truss to comment publicly today on the turmoil in financial markets
— Jason Groves (@JasonGroves1) September 28, 2022
One Twitter user said: “Genuinely where the hell is Liz Truss? You’d of thought at least a written statement would of gone out by now to someone in the press to calm things down at least surely?”
GB News presenter Isabel Webster Tweeted: “Where is Liz Truss?”
What the government needs to do now is recall parliament and abandon this budget.Labour leader Keir Starmer
Comedian David Baddiel added: “Where *is* Liz Truss? We appear to be in a crisis. Normally, in that situation, a country’s leader says...*something*. Even if it’s keep calm and carry on.”
Former Blue Peter presenter Simon Thomas added: “Whilst the economy burns like a skip fire, has anyone seen or heard from Liz Truss? She was highly visible during her leadership tour; but now she is leader, where the hell is she?!
“Where is her leadership? Cooling off in Boris’s fridge? To remain quiet is a dereliction of duty.”
It comes as Labour, the Lib Dems and SNP all called for parliament to be recalled amid the “rapidly deteriorating economic crisis”.
Labour leader Keir Starmer told Sky News: “The government has clearly lost control of the economy.
“What the government needs to do now is recall parliament and abandon this budget.”
UK in grip of rapidly deteriorating economic crisis. Emergency intervention by @bankofengland to reduce damage of UK gov own policies extraordinary.
Commons should be immediately recalled (where even is PM?) & as at least an initial symbol of sense, top tax rate abolition dumped— Nicola Sturgeon (@NicolaSturgeon) September 28, 2022
Lib Dem leader Ed Davey said Truss had 24 hours to fix the “economic disaster” and added: “Every hour the prime minister and chancellor hide from this economic nightmare increases the chances of interest rates spiralling out of control and people losing their homes.”
There are mounting concerns about a mortgage crisis as the Bank prepares to hike interest rates.
Lenders have withdrawn dozens of products as they struggle to adjust to the expectations of higher costs.
The Labour Party has also called on the chancellor to make an “urgent statement” on how he is going to fix the “crisis that he has made”.
Last night the International Monetary Fund [IMF] launched a stinging attack on the UK’s tax-cutting plans
In an unusually blunt statement, the Washington-based fund said Kwarteng’s £45bn proposal is risky and will “likely increase inequality”.
Kwarteng has strongly defended the tax cuts and was due to meet with investment banks on Wednesday.
This article originally appeared on HuffPost UK and has been updated.
