Irish Examiner view: Counting down on Truss premiership

Prime Minister Liz Truss during a press conference at Downing Street, London. Market makers and citizens were hoping for a safe pairs of hands, not the reckless throw of a gambler’s dice.

If history is any yardstick, the British prime minister Liz Truss (39 days in office and counting) is not so much in the last chance saloon as staggering her way towards the swing doors marked “this way out”.

Residents of 10 Downing St rarely survive falling out with their chancellors. It was this that led to the downfall of Margaret Thatcher, firstly with the departure of Nigel Lawson and then the resignation of her deputy, Geoffrey Howe, who had loyally led the treasury during her difficult first ministry. Norman Lamont carried the blame for Britain’s involvement in the exchange rate mechanism, although he was highly Eurosceptic. His departure allowed John Major to limp through until a 1997 election which ushered in 13 years of Labour dominance under Tony Blair and Gordon Brown.