Daniel McConnell: Truss' resignation would be funny if it wasn't so serious

Relations with the Johnson government were the sourest any Irish Government had with the UK since the darkest days of the Troubles, much rests on who will replace Liz Truss after her dysfunctional reign.

Liz Truss makes a statement outside 10 Downing Street, where she announced her resignation as British prime minister. Picture: Kirsty O'Connor/PA Wire

Dear reader, this piece is being written at about 6pm on Thursday evening, so please forgive me if it is now out of date as you read it this morning.

Such has been the pace of events in London in recent days, that it has been extremely taxing to keep apace of everything.

The feeble 90-second resignation speech of Liz Truss after just 44 days as British prime minister outside the historic door of Number 10 Downing Street, typified her limp and hapless reign.

She has made history for all of the wrong reasons.

Never has the phrase 'Great Britain' been more meaningless, hollow, and defunct.

Like a deer caught in the headlights of an approaching truck, Truss never for one moment looked like a prime minister.

The scale of chaos, dysfunction, and incompetence has been truly shocking to watch.

Britain has been in a world of pain since the mini-budget concocted by Truss and her ex-chancellor Kwasi Kwarteng blew up in their faces, crashed the market, and made millions of their citizens poorer.

They caused a run on sterling and the International Monetary Fund (IMF) was forced to intervene with a scathing rebuke. With the markets spooked, The Bank of England was forced to buy up to £65bn of government bonds to save UK pension funds from collapse. Bond yields have spiked, adding hundreds of pounds per month to the mortgages of millions of families.

The Tory reputation for economic prudence and sound management was eviscerated in an instant and as a result, Labour’s bland leader Keir Starmer has a 30+ point lead in the opinion polls and has Downing Street in his sights.

Labour leader Keir Starmer has repeated his call for a general election.

The constant refrain around Leinster House among Irish politicians and officials yesterday was: “It would be funny if it wasn’t so serious”.

People here were comparing the chaotic last days of the Brian Cowen government for some semblance of comparison, but there really is none.

We recalled the day Cowen attempted to replace six retiring ministers from Cabinet just weeks before the government fell, only to be blocked by the Green Party.

Visions of panicked TDs gathering around Brian Lenihan at the top of the stairs at the main entrance to the Dáil chamber come flooding back. 

“Go back to your constituencies and canvass, it's every man for himself,” he declared to his shaken flock.

While Cowen’s Fianna Fáil party was devoid of any authority or mandate, we knew at least a general election was in the offing.

Truss’ departure has led to calls from the likes of Starmer and Nicola Sturgeon for a general election, but given the Tories still have a sizeable majority, it is unlikely.

Elected by the wider Tory party membership as opposed to the elected MPs in the House of Commons, Truss overcame Rishi Sunak quite frankly because many in that party were not comfortable with a non-white man being their leader.

But, what is clear is that Sunak, who did command a majority of members in the House of Commons, is now the favourite to succeed.

Rishi Sunak could have another run at becoming Conservative Party leader after being defeated by Liz Truss. Picture: Stefan Rousseau / POOL / AFP

Having so viscerally opposed Truss’ economic plan during the leadership campaign, and that he has been so vindicated, he will certainly be hard to beat.

The name of Boris Johnson was also ringing out loudly as many of his supporters demanded his return.

Trade minister James Duddridge, Mr Johnson's former parliamentary aide, used the hashtag #bringbackboris on Twitter, saying: "I hope you enjoyed your holiday boss. Time to come back. Few issues at the office that need addressing."

Perhaps the most fascinating development was the speed with which Jeremy Hunt announced that he was not putting his name forward, a play to make sure he stays as chancellor.

The chairman of the 1922 backbench committee, Graham Brady, described as a “great big hedgehog” who moves slowly, has confirmed that the process to replace Truss will take one week.

Chairman of the 1922 Committee of backbench Conservatives Graham Brady makes a statement outside the Houses of Parliament, London, after Liz Truss announced her resignation as prime minister. Picture: Stefan Rousseau/PA Wire

Thankfully, no longer than that.

This six-year soap opera since the Brexit referendum has done enormous damage to Britain, to its standing in the world, to Anglo-Irish relations, and has added to the growing instability in an increasingly authoritarian mood in Europe.

It should not be lost that two of the most autocratic countries listed in the world by think tanks are within the EU fold — Poland and Hungary, with the latter no longer classed as a full democracy.

These are scary times, and the stakes could not be higher.

From an Irish perspective, it is telling that the Irish Government is standing back and being very careful not to be drawn, publicly at least, into commenting on what is going on in London.

But relations with the Johnson government were the sourest any Irish Government had with their UK counterparts since the darkest days of the Troubles, when distrust and suspicion were rampant.

Micheál Martin could do little but wish Truss well, but the underlying message was clear — can we have a grown-up next time please?

It is often said it is darkest before dawn. If that is true, given what has happened in London, then dawn must be close at hand.