Liz Truss would lose the confidence of her MPs after a “volcanic night” for the Conservative Party. The prime minister held a meeting to try to rally party members after his financial state saw the pound plummet and the cost of government borrowing soar.
However, the meeting failed to allay the concerns of the 1922 Committee after a tumultuous month for the government.
A senior Tory MP said after the meeting that Ms Truss ‘should never again be entrusted with a financial statement’.
Political editor Adam Payne tweeted that it had been a “volcanic night” for the Tories.
A senior Tory MP told PoliticsHome: ‘After tonight most Tory MPs accept that our current leader, given the decisions she made with the budget statement, can never provide the assurance needed to stop the loss of market confidence.
“She should never be given a financial statement again. It’s kind of like asking the gas engineer who just blew up your house to come back and try again.”
Tory MPs present were said to have been “totally shocked” by his performance, according to government sources.
A source said: ‘From illusion to devastation – written all over her face.’
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She claimed Sir Keir Starmer and Labor had no plans to support households ‘beyond the next six months’.
Still, the prime minister faced a series of questions about soaring interest rates and the effect on mortgages.
Education select committee chairman Robert Halfon accused her of “trailing away working class conservatism” and “everything the party has stood for for the past decade”.