Liz Truss clings to power as chaos grows in Westminster

British Prime Minister Liz Truss struggled to retain power on Thursday as she lost her second senior minister and arguments and scuffles among lawmakers in parliament underscored a breakdown in party unity and discipline.

In just six weeks as prime minister, Truss was forced to abandon almost her entire policy program after it led to a bond market crash and a drop in her and the Conservative Party's approval ratings. Since last Friday, she has lost two of the four most senior ministers in government, sat expressionless in parliament as her new finance minister ripped up her economic plans and was greeted with shouts of laughter as she tried to defend her record. "We can't go on like this," a Conservative lawmaker told Reuters late on Wednesday of the chaotic scenes in parliament. The sight of another unpopular prime minister trying to cling to power underscores how volatile British politics has become since the 2016 vote to leave the European Union set off a battle over the direction of the country. Truss became Britain's fourth prime minister in six years after being elected to lead the Conservative Party in September by party members, not the wider electorate, and with the support of only a third of party MPs. She promised tax cuts financed by borrowing, deregulation and a sharp shift to the right on cultural and social issues. Her sudden loss of powers came as the economy slipped into recession and the new finance minister, Jeremy Hunt, raced to find tens of billions of pounds of spending cuts to reassure investors spooked by Truss's policy proposals. The government's borrowing costs, though lower than they were at the height of the crisis last week, continue to rise as investors question who is to blame and whether Hunt can rebuild Britain's once solid economic reputation. Speaking to Reuters, Crispin Blunt, a Conservative MP for 25 years, said the situation was so dire that her colleagues should let a seasoned person take control. "Personal considerations and ambitions must now be put aside," Blunt said, adding that he would support Hunt as leader. Tobias Ellwood, chairman of Parliament's Defense Committee, said Truss must survive until October 31, when Hunt will announce how he will rebuild the public finances. He said any collapse before then would lead to further pressure on sterling. Other candidates to replace Truss include former finance minister Rishi Sunak, who has warned that his economic policy will damage the economy, or Penny Mordaunt, a minister popular with many in the party. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!