Why British Conservatives removed Liz Truss?

Explainer
UPDATE With Commentary and Analysis By Harry Tamrazian

In a surprise announcement today, British Prime Minister Liz Truss said she will resign from her post. She was heavily criticized for introducing a disastrous economic plan which shocked the economy and financial markets.

She increased government spending, lowered taxes on the wealthy, and went in the opposite direction of the policy of the Bank of England to raise interest rates to reduce inflation.

The results were disastrous!

Here is what she said at Downing street 10.

"I came into office during significant economic and international instability. Families and businesses were worried about how to pay their bills. Putin's illegal war in Ukraine threatens the security of our whole continent, and our country has been held back for too long by low economic growth."

"I was elected by the Conservative Party with a mandate to change this. We delivered on energy bills and on cutting National Insurance. And we set out a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit.

"I recognize though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party., I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party."

You can't fight your own central Bank; you have to give them Freedom in the Financial markets! That's what Conservatives do! Liz Truss went against the principles of Economic liberalism and fiscal conservatism, and she paid the price by producing one of the shortest government resignations in British politics.

Bank of England, the UK's Central Bank, tried to lower inflation by raising interest rates. After the initial rate hike, the Bank of England intended to further increase the rates to slow down the economy and take money out of the system, which will help to calm inflation. But the government of Liz Truss undermined Bank's efforts and moved in the opposite direction, trying to boost growth by cutting taxes for the rich and stimulating spending.

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