Gone in a flash, Liz Truss becomes the shortest serving prime minister in British history. As it stands, she’s 75 days short of George Canning, who lasted some 119 days in office before dying from tuberculosis. If Truss’s successor wants to avoid joining her and Canning at the lower ends of the Wikipedia, they’ll need to keep a close eye on these seven metrics:
1. The value of the pound
Kwasi Kwarteng’s (and Liz Truss’s) mini-Budget caused the pound to fall to its lowest ever level at just above $1.03. At the time there were fears it may even pass parity with the dollar. Since then it regained its losses and stands at $1.13. Much of the pressure against the pound was really due to a strengthened dollar. Nonetheless, the new PM will be keeping a close eye on where it goes from here.
2. Where the gilt yields go
Uneasiness about the public finances also led to gilt yields shooting up.
Get Britain's best politics newsletters
Register to get The Spectator's insight and opinion straight to your inbox. You can then read two free articles each week.
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in