Truss in numbers: What did the prime minister accomplish during her time in office?
Liz Truss is set to be the shortest-serving prime minister in British history.
She said she will remain in office until a successor is chosen.
The results of that leadership election will be announced on Friday next week, so Ms Truss’s tenure will be shorter than previous the record holder George Canning – a record that he held for almost 200 years.
Mr Canning’s 1827 premiership lasted just 118 days, cut short by his death from tuberculosis. When Ms Truss leaves office next Friday she will have lasted 66 days fewer.
Despite being the shortest-serving prime minister, the death of the Queen two days after she started means Ms Truss is the first in 70 years to serve under two different monarchs.
Public opinion
One of the reasons for Ms Truss’s rapid departure is because of her party’s position in the polls since she took office.
Labour’s lead over the Conservatives has not been higher since January 1998, shortly after Tony Blair became prime minister.
If an election was held today, polls suggest that more than half of people in the UK would back Sir Keir Starmer’s party while fewer than a quarter would vote Conservative.
Ms Truss’s personal approval rating became very low, very quickly, reaching -51 on 8 October. Just 16% of people said they were satisfied with her performance, while 67% said they were unsatisfied.
That’s worse than the levels ever reached by Boris Johnson, despite his longer time in power. It’s the lowest rating since Gordon Brown reached the same level in July 2008 during the depths of the financial crisis.
Political instability
The prime minister’s six weeks in office were defined by political turmoil and the resignation of her two most senior ministers.
Kwasi Kwarteng’s resignation after just 38 days in the Treasury makes him the second shortest-serving chancellor since 1945.
And when Suella Braverman resigned on Wednesday she became only the second home secretary to serve for fewer than 50 days since the office was established in 1782.
Changes in personnel during Ms Truss’s short time in office were matched by frequent changes in policy.
Taking office on 6 September, her first day, Liz Truss said that her priorities would be growing the economy through “tax cuts and reform”, dealing “hands on” with the energy crisis, and improving access to the NHS.
Though her premiership was brief, Ms Truss and her first chancellor, Mr Kwarteng, announced a number of significant tax cuts and a major package of support to help households cope with the energy crisis.
Her legacy will be more limited, however, as on Monday Ms Truss’s second chancellor Jeremy Hunt cancelled nearly all of Mr Kwarteng’s tax-cutting measures, as well as his plans to extend the current energy price guarantee beyond April 2023.
What still remains of her policy announcements are a limited energy support package, the cancelled rise to National Insurance, the uplift to the stamp duty threshold, and the ability of bankers to receive bonuses more than double their salary.
Economic turmoil
Another big reason that Ms Truss was forced to resign was her impact on the economy.
Markets reacted negatively to the agenda she and Mr Kwarteng revealed on 23 September – to the policies themselves and the government’s decision not to submit it for scrutiny to the Office for Budget Responsibility, the UK’s independent fiscal watchdog.
The mini-budget’s negative reception among international investors led to a sharp fall in the value of the pound against the US dollar.
The exchange rate reached an all-time low of $1.03 to the pound on 26 September, three days after the mini-budget, before rallying over subsequent weeks thanks in part to a response by the Bank of England.
Market volatility and the possibility of a sharp increase in central bank interest rates also led to a surge in predicted interest rates.
Hundreds of mortgage products were withdrawn altogether by lenders, and borrowers on variable rates are facing the prospect of mortgage repayment rises of potentially hundreds or thousands of pounds a month.
Since Jeremy Hunt became chancellor, the predictions for next year have lowered slightly but are still higher than had been expected when Ms Truss became prime minister.
We’ve mentioned many issues caused by Ms Truss’s policies, but it is worth remembering that there are other problems in dire need of attention.
Given the chaos at Westminster in the weeks before Boris Johnson’s resignation three months ago, it’s difficult to argue that there has been an effective government in place in Britain since the summer.
The NHS treatment waiting list reached another record high in figures announced last week – one in eight people are now waiting for treatment.
People are waiting longer than ever for cancer care, for ambulances and in A&E, even before we get to the winter period when effective healthcare typically becomes even more difficult.
What have people been saying on social media?
One of the reasons some MPs were said to be reluctant to remove Liz Truss was that more political instability would mean more delays.
But some members of the public expressing their views on social media on Thursday didn’t seem too sorry to see her go.
The following mind maps were generated using data gathered by Talkwalker, a social listening company, based on Twitter, Tik Tok and YouTube posts from users in the UK.
In the past 24 hours (up to 4pm today), some of the most popular main phrases being posted about Liz Truss include “economic strain”, “desperate attempt”, “ordinary people” and “anti-democratic disgrace”.
Other slightly less frequent phrases include: “cold homes” (referring to concerns over heating costs), “utter chaos” and “dark days”.
What people were saying about Liz Truss when she became prime minister on 6 September. Sky News/Talkwalker
“Compassionate Conservatives” is also trending, but when looking at the posts in context they are overwhelmingly using this phrase with either sarcasm or to say the Conservatives are not compassionate.
It is a similar case with the phrase “huge congratulations”, with posters appearing to give sarcastic well-wishes to Ms Truss.
But how does this compare to Liz Truss’s first day in office?
Phrases on 6 September are much more varied and reflect a number of other issues in the news at the time, such as migrants crossing the channel in “small boats” and concerns around the energy crisis, the economic situation and poverty.
Phrases referring directly to Mrs Truss’s appointment as prime minister include both “bleak start” and “fresh start” (mostly people saying they believe Ms Truss is not a fresh start), as well as “low expectations”.
What people were saying about Liz Truss when she resigned as prime minister on 20 October. Sky News/Talkwalker
Some posts are positive, with some praising the prime minister’s handling of the media that day as a sign the country was in “safe hands”.
The Data and Forensics team is a multi-skilled unit dedicated to providing transparent journalism from Sky News.
We gather, analyse and visualise data to tell data-driven stories. We combine traditional reporting skills with advanced analysis of satellite images, social media and other open source information. Through multimedia storytelling we aim to better explain the world while also showing how our journalism is done.
World
At least 114 dead after Philippines typhoon, as state of emergency declared and more than 100 still missing
The Philippines has declared a state of emergency after a typhoon left at least 114 dead and 127 missing.
Philippine President Ferdinand Marcos Jr issued the “state of national calamity” declaration after a meeting with disaster officials on Thursday.
It comes after Typhoon Kalmaegi made landfall on Tuesday, striking the country’s central provinces. It is the deadliest natural disaster to hit the Philippines this year.
After reaching the country, the storm hit with sustained winds of 87mph and gusts of up to 121mph.
Authorities in Vietnam, meanwhile, are bracing for Kalmaegi’s approach. Forecasters warned that Ho Chi Minh City faces a heightened risk of severe flooding, as high tides would coincide with the expected heavy rainfall from the typhoon.
So far, the deaths recorded were mainly as a result of flooding in flash floods. The country’s civil defence office said that at least 71 people died in Cebu.
Cebu province was hit hard by the typhoon, with at least 71 dead. Pics: Reuters
Cebu, a province of more than 2.4 million people, was still recovering from a 6.9 magnitude earthquake on 30 September, which left at least 79 people dead.
A state of calamity was previously declared there to allow authorities to disburse emergency funds more rapidly.
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Filipinos stranded on roofs amid Typhoon floods
The province’s governor Pamela Baricuatro told the Associated Press on Thursday: “We did everything we can for the typhoon but, you know, there are really some unexpected things like flash floods.”
Almost two million people were affected by the tropical cyclone, with more than 560,000 displaced and almost 450,000 evacuated to emergency shelters.
Cars swept away by floods brought by Typhoon Kalmaegi are left on a street in Cotcot, Liloan, Philippines. Pic: Reuters
Abandoned vehicles were also seen across Cotcot, in Liloan. Pic: Reuters
Six people who died as a result of the typhoon were killed when a Philippine air force helicopter crashed in the southern province of Agusan del Sur on Tuesday.
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The crew was on its way to provide humanitarian aid to provinces affected, the military said, without giving the cause of the crash.
The Philippines is one of the world’s most disaster-prone countries.
It is affected by around 20 typhoons and storms each year, is also often hit by earthquakes, and has more than a dozen active volcanoes.
World
Elon Musk: Why some are starting to question if the world’s richest man is still value for money
Elon Musk is already the world’s richest man, but today he could take a giant step towards becoming the world’s first trillionaire.
Shareholders at Tesla are voting on a pay deal for their chief executive that is unlike anything corporate America has ever seen.
The package would grant Musk, who already has a net worth of more than $400bn, around 425 million shares in the company.
That would net him about $1trn (£760bn) and, perhaps more importantly to Musk, it would tighten his grip on the company by raising his stake from 15% to almost 30%.
The board, which has been making its case to retail investors with a series of videos and digital ads, has a simple message: Tesla is at a turning point.
Musk onstage during an event for Tesla in Shanghai, China. Pic: Reuters
Yes, it wants to sell millions of cars, but it also wants to be a pioneer in robotaxis, AI-driven humanoid robots, and autonomous driving software. At this moment, it needs its visionary leader motivated and fully on board.
Musk has served his warning shot. Late last month, he wrote on X: “Tesla is worth more than all other automotive companies combined. Which of those CEOs would you like to run Tesla? It won’t be me.”
Not everyone is buying it, however.
With so much of his personal wealth tied up in Tesla, would Musk really walk away?
Musk poses after his company’s initial public offering at the NASDAQ market in New York on 29 June 2010. Pic: Reuters
Bad for the brand?
Others see his continued presence and rising influence as a risk. Norway’s sovereign wealth fund, the world’s largest, which owns 1.1% of the company (making it a top 10 shareholder), has already declared it will vote against the deal. It cited concerns about “the award’s size, dilution, and lack of mitigation of key person risk”.
Several major US pension funds have followed suit. In an open letter published last month, they warned: “The board’s relentless pursuit of keeping its chief executive has damaged Tesla’s reputation.”
They also criticised the board for allowing Musk to pursue other ventures. They said he was overcommitted and distracted as a result. Signatories of that letter included the state treasurers of Nevada, New Mexico, Connecticut, Massachusetts, Colorado, and the comptrollers of Maryland and New York City.
All of them Democrats. Republicans have been more favourable. There is a political slant to this.
The signatories’ concerns with his “other ventures” no doubt include the time Musk spent dabbling in right-wing politics with the Republican inner circle. That made him a polarising figure and, to an extent, Tesla too.
Elon Musk, who’s been close to Donald Trump, boards Air Force One in New Jersey. Pic: Reuters
Pay packet dwarfs rivals
Combine this with a mixed sales performance and a volatile share price, and some are wondering whether the carmaker has lost its way under his leadership.
Irrespective of performance, for some, the existence of billionaires – let alone trillionaires – can never be justified. Some may also ask why Musk is worth so much more than the leaders of Apple, Facebook, and Microsoft, or Nvidia, the world’s most valuable company by market capitalisation.
Nvidia‘s chief executive, Jensen Huang, received $49.9m (£37.9m) this fiscal year. So, how has Tesla come up with these numbers? Why is Musk’s pay so out of kilter with the benchmark? Does the company have a corporate governance problem?
The courts have suggested it might. Last year, a Delaware court took the view that Tesla’s board members, which include Musk’s brother Kimbal, were not fully independent when agreeing to a $56bn (£42.6bn) pay packet back in 2017.
Jensen Huang has defended the AI sector. Pic: Reuters
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The Delaware Supreme Court is now reviewing the case. It is a reminder that even if Musk meets his targets, a similar fate could befall the current package.
The Tesla board is holding firm, however. Robyn Denholm, the company’s chair, told The New York Times: “He doesn’t get any compensation if he doesn’t deliver,” adding that Musk “does things that further humankind”.
Tesla’s valuation is tied up in its promise to deliver revolutionary AI and robotics products that will change the world. Those ambitions, which include robots that can look after children, are lofty. Some would call them unrealistic, but the board is adamant that if they are to become a reality, only Musk can make it happen.
Under the deal, Musk would receive no salary or cash bonus. Instead, he would collect shares as Tesla’s value grows. To unlock the full package, he would have to increase the current market valuation six times to $8.5trn (£6.47trn). For context, that’s almost twice that of Nvidia.
There are other hurdles. The company would have to sell 20 million additional electric vehicles, achieve 10 million subscriptions to its self-driving software on average over three months, deploy one million robotaxis on average over the same period, sell one million AI-powered robots, and boost adjusted earnings 24-fold to $400bn (£304bn).
They are ambitious targets, but Musk has defied the sceptics before.
A driver has knocked down several people on the French island of Ile d’Oleron.
Two people are in intensive care following the incident and a man has been arrested, French interior minister Laurent Nunez said.
Several others were injured after the motorist struck pedestrians and cyclists, he added.
Thibault Brechkoff, the mayor of Dolus-d’Oleron, told BFMTV the suspect shouted “Allahu Akbar” (Arabic for God is Greatest) when he was detained.
Arnaud Laraize, the public prosecutor in La Rochelle, told the Sud Ouest newspaper the 35-year-old suspect “resisted arrest” and was “subdued using a stun gun”.
He said the suspect was known for minor offences such as theft, adding he was not on a list of people considered a threat to national security.
Pedestrians and cyclists were hit on a road between Dolus d’Oleron and Saint-Pierre d’Oleron, he added.
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Police were alerted, with the first calls made at around 9am, according to French media reports.
Mr Nunez said in a post on X that he was heading to the scene at the request of the French prime minister.
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