Liz Truss is now prime minister in name only: Jeremy Hunt, her chancellor of the exchequer, now holds power. He has repudiated her tax-cutting mini-Budget in a round of media appearances – his performances being far more convincing than Truss’s graceless eight-minute press conference on Friday. His admission that spending cuts will be needed and that ‘some taxes are going to go up’ to balance the books has injected a much-needed dose of realism.
The question on everyone’s lips is: what will Hunt do now? Is he a stalking horse for a new PM (Rishi Sunak being the obvious candidate) or is the former head boy at Charterhouse himself a prime minister-in-waiting?
Let’s look at the options. Even a deeply divided Tory party should be able to see that the Truss project – whether you liked or hated it – is now dead in the water. But they need to pull together around something.
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