Was Liz Truss's speech a success? 🤔 Sky News analyses the prime minister's speech at the Conservative Party conference 👇 Read more:
Much has changed dramatically since Ms Truss defeated Rishi Sunak for the Conservative crown by 57.4% to 42.6% - a comfortable margin, but slimmer than in other recent Tory leadership elections.In her victory speech at London's Queen Elizabeth II conference centre, she described the contest as"one of the longest job interviews in history".
Banished to the backbenches were Michael Gove, Grant Shapps, Sajid Javid and many more, in a cull that began to backfire badly at this week's Tory conference, when Mr Gove and Mr Shapps led the mutiny on the 45p tax cut.In an eagerly awaited first Prime Minister's Questions for the new premier, Ms Truss put in a sound performance and delighted Tory backbenchers with her counter-attacks against Sir Keir Starmer.
She said the Queen's sense of duty had been a personal inspiration to her and many other Britons, adding:"She was the very spirit of Great Britain and that spirit will endure."With the nation still reeling from the shock of the Queen's death, the PM led two days of tributes in Parliament, telling MPs:"In the hours since last night's shocking news, we have witnessed the most heartfelt outpouring of grief at the loss of her late majesty the Queen.
As a newcomer, she had a middle-of-the-night graveyard slot in the speeches and at her first face-to-face meeting with Joe Biden was confronted by the US president on the Northern Ireland Protocol. Mr Kwarteng's £45bn tax-cutting package for the rich sent the pound crashing to its lowest level against the dollar in 37 years. He announced more than £400bn of extra borrowing over the coming years to fund the biggest giveaway since Anthony Barber's ill-fated 1972 budget.
But if the run on the pound was bad, worse was to come. The Bank of England was forced to calm the bond market with a £65bn bailout after a surge in gilt yields threatened to wipe out many pension funds.
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