Tokyo stocks retreat amid geopolitical, economic uncertainties
Tokyo stocks retreated on Wednesday as investors grappled with heightened uncertainties surrounding US monetary policy and geopolitical tensions between Ukraine and Russia.
The shortest serving Prime Minister in UK’s political history, Liz Truss delivered her farewell speech outside 10, Downing Street before proceeding to Buckingham palace to tender her resignation letter to King Charles III . She was accompanied by her husband Hugh O’Leary and children.
Truss conveyd her successor Rishi Sunak “sucess”.
Addressing a farewell speech, Truss added, “This government has acted urgently and decisively on the side of hardworking families and businesses. We reversed the national insurance increase. We helped millions of households with their energy bills and helped thousands of businesses avoid bankruptcy.”
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We delivered on energy bills and on cutting national insurance.
We have continued to stand with Ukraine and to protect our own security.
And we set out a vision for a low tax, high growth economy – that would take advantage of the freedoms of Brexit. pic.twitter.com/fi6rtdBRAf
— Liz Truss (@trussliz) October 20, 2022
Liz Truss also mentioned Seneca, the Roman philosopher, and said: “It’s not because things are difficult that we do not dare, it is because we do not dare that they are difficult.”
Truss also said that the UK cannot afford to be a low-growth country and urged the incoming cabinet to ‘take advantage of our Brexit freedoms to do things differently.’
“We simply cannot afford to be a low-growth country where the government takes up an increasing share of our national wealth. We need to take advantage of our Brexit freedoms to do things differently. This means delivering more freedom for our own citizens. And restoring power to democratic institutions. It means lower taxes so people can keep more of the money that they earn,” Truss said.
Truss also said Ukraine should prevail and the UK should bolster its defences. She said: “Now more than ever we must support Ukraine. Ukraine must prevail and we must continue to strengthen our nation’s defence.”
Truss resigned after her own party and cabinet members rebelled against her.
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