Berliner Boersenzeitung - Truss tipped to prevail as UK leadership race nears end

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.834974
GBP 0.834166
GEL 2.893653
GGP 0.834974
GHS 13.055243
GIP 0.834974
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.834974
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.834974
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.587311
MNT 4015.514918
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 132.393741
WST 3.108622
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.340367
MXV 2.33632
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Truss tipped to prevail as UK leadership race nears end
Truss tipped to prevail as UK leadership race nears end / Photo: Geoff Caddick - AFP

Truss tipped to prevail as UK leadership race nears end

The race to become Britain's next prime minister is in its final week, with Liz Truss appeared poised to secure the top job, along with daunting challenges.

Text size:

Foreign Secretary Truss, 47, has consistently outrun 42-year-old former finance minister Rishi Sunak by wide margins in polls of Conservative party members who will decide the contest, which started in early July.

An estimated 200,000 Tory grassroots have been able to vote since earlier this month for their preferred candidate, before postal and online ballots close on Friday.

The winner will be announced next Monday and replaces outgoing leader Boris Johnson in Downing Street the following day -- only to face immediate crises over the spiralling cost of living.

The unenviable job of leading Britain through its highest inflation in 40 years and warnings of an imminent recession arose after Johnson announced in early July that he would be standing down.

It followed months of scandals that eventually triggered Sunak and dozens of other ministers to resign from government, forcing his departure.

However, some ministers and MPs -- including Truss -- remained loyal to the end, arguing Johnson deserved more time to turn around his controversy-tarred three-year tenure.

Nearly 10,000 Tory members are reportedly so angry at his enforced resignation they are pushing the ruling party to allow a vote over whether to accept it.

The Tory hierarchy is resisting the move while Downing Street has distanced itself from the campaign, insisting Johnson will back the winner of the leadership fight.

Whoever that is may struggle to reunite the Conservatives, with the splits worsened by the bitter battle between Truss and Sunak.

- Backlash -

Eight Conservative MPs initially qualified to run in the race, before the party's MPs whittled that number down in five ballots.

Sunak was the early frontrunner, topping all those votes of Conservative MPs while Truss repeatedly finished third.

She scraped into the final pairing on July 20 by just eight votes.

However, once the run-off began she quickly became the frontrunner, winning the endorsements of big hitters in Johnson's outgoing cabinet and stealing the support of several MPs from her rival's camp.

Sunak, who has faced a backlash from some Tory members over his part in ousting Johnson, has been relegated to long-shot contender.

The two candidates have sparred over their policies and records in several television debates as well as a dozen hustings in front of members -- the last of which will be held in London Wednesday evening.

But with surveys showing Truss leading by more than 30 points, the contest seems effectively over.

However, recent polls of the wider electorate show the challenge ahead.

The main opposition Labour party now boasts a double-digit lead over the Conservatives in a deteriorating economic landscape.

The next general election is due by January 2025 at the latest, but could come sooner, with most people expecting it in 2024.

- 'Remarkable achievement' -

The leadership contest has been dominated by how to respond to Britain's growing economic woes, with the rival candidates and their camps descending into open political warfare.

Truss has pledged immediate tax cuts and renewed focus on economic growth, while assailing her rival for pushing taxes to record highs and presiding over declining growth.

Sunak has emphasised the need to maintain current taxes -- including recent rises -- in the short-term, while pledging more targeted support for the most needy during the cost-of-living crisis.

He has argued his finance ministry record during the pandemic shows he can help Britons through the economic woes.

His furlough scheme, which temporarily paid the wages of millions, is credited with staving off mass unemployment.

First elected to parliament in 2015 and a Brexit supporter during the 2016 referendum, Sunak has accused Truss of "fairytale economics" and claimed her tax cuts will worsen inflation.

But analysts say the campaign has shown Truss -- first elected an MP in 2010 -- possesses superior political experience and skills.

"She was able to communicate effectively," said polling expert John Curtice, noting Sunak had appeared a "bit brittle".

Politics professor Tim Bale, of Queen Mary University of London, noted Truss had in some ways defied her own record.

A minister in successive Tory governments for the past decade, who voted to remain in the European Union in 2016, she nonetheless showcased a populist anti-establishment image in the race.

"She's somehow managed to present herself as more Brexiteer than Rishi Sunak, who actually voted to leave (the EU), which is a remarkable achievement," said Bale.

(T.Burkhard--BBZ)