Liz Truss, the prime minister of the United Kingdom, is out. She joins an amalgam of leaders which are on rotating roll calls in Europe. Directly or indirectly, the war in Ukraine is architecting a new governance framework in Europe. If Russia had not attacked Ukraine, Boris Johnson would still be the PM of the UK.
On this, we are learning many things: party philosophies mean nothing if they do not help citizens especially when the citizens are used to good living standards. You can preach the conversative constructs of low taxes embellished on libertarian individual liberty and free market when you have abundance. But when there is scarcity in the land, suspicion comes when you do things which seem to favour the 1% over the 99%.
How do you cut tax for the rich when the internet has made it harder for the rich not to be making money faster? They have an organic virtuoso circle which produces wealth than they can spend. On that call, Ms Truss scored an own-goal; in this 21st century, cutting taxes for the 1% is an expired strategy even if it worked decades ago.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
The bond market and the broad financial market pushed her out. When the pounds started bleeding, it was over. In the Igbo Nation, the elders have it that no man can cook for all his kindred, but when the kindred cooks for a man, he has no chance of finishing the food. The UK cooked for Ms Truss and she ran away today.
Contrast that with Africa where leaders face minimal consequences for being poor in what they do. Liz’s resignation is a demonstration of the zenith of Britain’s mature democracy: the supremacy of the people over any human. Africa needs that prescription at scale as we have a disease which is more devastating than the political pandemic in the UK.
U.K Prime Minister Liz Truss has recently revealed that she is resigning from her position after spending about six weeks in office.
In her resignation speech, Truss disclosed that a contest would take place within a week, although the exact process for the contest is yet to be revealed, as it seems unlikely that there will be a repeat of the two-month marathon contest that followed the toppling of Boris Johnson.
While giving her speech Liz Truss said outside the 10 Downing Street, the official residence and the office of the British Prime Minister, she said, “I came into office at a time of great economic and international instability with a mandate to change this. Families and businesses were worried about how to pay their bills.
Who will come next? Penny Mordaunt and Rishi Sunak are potential candidates. But do not take out the most powerful man in UK politics now – Jeremy Hunt. He saved the pounds
Liz Truss has resigned as prime minister, losing out to an iceberg lettuce purchased by the Daily Star in the battle to not wilt.
Truss was “elected” by the Conservative Party’s membership a mere 45 days ago, and formally made PM by the Queen on 8 September. In that time she has overseen the death of Queen Elizabeth II; the tanking of the British economy; and now her own demise, but could not surpass the challenge of outlasting a non-sentient lump of plant matter and water.
---
Register for Tekedia Mini-MBA (Feb 10 - May 3, 2025), and join Prof Ndubuisi Ekekwe and our global faculty; click here.
Economics does not yield to Politics, never, rather it’s the other way round. You can do all the political acrobatics and gymnastics, but when the numbers fail to add up on the economy side of things, you will still get swallowed.
If you promise higher taxes for the richest 1%, you will win many people over, but again – do you produce enough richest people that when taxed out of existence can actually carry the burden of the struggling 99%? Therein lies the great unknown…
Hysteria has never delivered good governance anywhere, so there is always the need to have folks who think things through before making wild promises.
If you need 10 bags of rice to feed 5000 people, and you only have 3 bags available, what kind of politics can magically make 3 bags of rice enough for 5000 people? It’s either you bring additional 7 bags or convince your people to reduce their consumption rate by 70%. If you cannot do either, you will sink.
Next ‘victim’ loading…