- November 23, 2022
- Posted by: Stratford Team
- Category: Economy
Any potential hits to the U.K. economy can complicate matters for the U.S., making its new prime minister’s plan globally important.
Political drama has been unfolding in Britain after the parliamentary democracy said so long to Liz Truss — its shortest serving prime minister in history, serving just under seven weeks.
Her final days were marked by economic policies that sent ripples across European markets, ultimately leading Truss to resign and be replaced by current Prime Minister Rishi Sunak.
European markets have since calmed a bit, but it’s left the economy and its people feeling like they’re on shaky ground — wondering how Britain got there, what’s next for the U.K. and how this could impact relations with the U.S.
The reasoning behind those concerns can partly be traced back to Britain’s exit from the European Union, or Brexit, in January 2020. The U.K. legally revoked its membership from the 28-nation bloc in a move backed by 52% of…