US Business

US to require extra hour of rest for flight attendants

US authorities will require flight attendants be given an additional hour to rest between trips, according to new rule announced Tuesday.

The Federal Aviation Administration will lift the minimum rest time to 10 consecutive hours from nine, implementing a rule change as required by a 2018 law.

“Flight attendants, like all essential transportation workers, work hard every day to keep the traveling public safe, and we owe them our full support,” US Transportation Secretary Pete Buttigieg said. 

“This new rule will make it easier for flight attendants to do their jobs, which in turn will keep all of us safe in the air.”

The Association of Flight Attendants, which had long fought for the longer rest times, praised the FAA announcement, which takes effect in 30 days and gives airlines 90 days to be implemented.

“As aviation’s first responders and last line of defense, it is critical that we are well rested and ready to perform our duties,” said AFA President Sara Nelson

“Covid has only exacerbated the safety gap with long duty days, short nights, and combative conditions on planes.”

Nelson praised President Joe Biden for enacting the measure, adding that while the 2018 congressional mandate “could not have been more clear,” officials in Donald Trump’s administration “put our rest on a regulatory road to kill it.”

Shell CEO hints energy firms should pay more tax

Shell’s departing chief executive indicated Tuesday that governments should “probably” tax energy firms more to help protect the poorest from rocketing electricity and gas bills and ease the cost-of-living crisis.

Ben van Beurden, who leaves Shell at the end of this year, was addressing the Energy Intelligence Forum industry gathering.

“You cannot have a market that behaves in such a way… that it’s going to damage a significant part of society. You simply cannot have that,” he told delegates.

“One way or another, there needs to be government intervention … that somehow results in protecting the poorest.

“And that probably means governments need to tax people in this room to pay for it — I think we just have to accept as a societal reality.”

Energy bills have sky-rocketed in the wake of key gas producer Russia’s invasion of Ukraine, sparking accusations from some quarters that the sector has reaped profits as a result of the war.

New British Prime Minister Liz Truss last month launched an energy price freeze that seeks to cushion the blow of runaway bills for households and businesses.

However the costly price freeze, contained also in the government’s recent controversial mini-budget, has sparked turmoil over its impact on government debt.

Van Beurden did not comment on the most appropriate way to tax the energy sector.

Truss, a former Shell employee, has already ruled out extending a windfall tax on energy companies’ profits, which was unveiled by her predecessor Boris Johnson.

Environmental campaigners Greenpeace welcomed van Beurden’s comments but criticised the government for doing nothing.

Susannah Streeter, an investment and market analyst, said van Beurden had “flung open a door on a windfall tax which the UK government had been trying to close”.

“This will reignite the debate over how profits of energy giants should be taxed just as a row rages about whether welfare spending will be hit to pay for the Truss administration’s slash and spend policies.”

Meanwhile, the outgoing Shell chief executive expressed scepticism on Tuesday over a possible price cap for Russian oil.

The European Union had last week proposed a new round of sanctions on Moscow, including the oil price cap.

As part of the new round of sanctions — which has to be signed off by the bloc’s 27 nations — the EU is laying out a “legal basis” for a price cap on Russian oil, in line with a G7 agreement.

“I struggle with understanding how effective an oil price cap on Russian oil will be,” van Beurden told the Energy Intelligence Forum, according to comments relayed on Twitter.

“Intervening in complex energy markets is going to be very difficult. 

“Governments need to consult with market experts on what they can and cannot do in terms of interventions.”

The Onion defends parody in US Supreme Court brief

It’s not often that the justices of the US Supreme Court receive a legal brief that is laugh-out-loud funny.

But they haven’t received one from The Onion before.

The popular satirical website filed an amicus brief on Monday in support of an Ohio man who was arrested for creating a parody page on Facebook of his hometown police department.

“Americans can be put in jail for poking fun at the government?” the Onion asked in the filing in support of Anthony Novak of Parma, Ohio.

“This was a surprise to America’s Finest News Source and an uncomfortable learning experience for its editorial team.”

The 18-page filing is a mix of serious legal argument, jokes, hyperbole and a defense of the art of parody.

Claiming a daily readership of “4.3 trillion,” the Onion described itself as the “single most powerful and influential organization in human history.”

It said the facts of Novak’s case “managed to eclipse what The Onion’s staff could make up.”

Novak was arrested after creating a spoof Facebook page in 2016 mocking the police department in Parma.

Accused of disrupting public services and interfering with police functions, Novak was acquitted in a jury trial.

He went on to sue the police department charging that his free speech rights had been violated.

An appeals court backed the police, however, and Novak is now seeking to have the Supreme Court hear his case.

That’s where the Onion entered the fray, filing what is known as a friend-of-the-court brief in support of Novak.

“As the globe’s premier parodists, The Onion’s writers also have a self-serving interest in preventing political authorities from imprisoning humorists,” it said.

“The Onion cannot stand idly by in the face of a ruling that threatens to disembowel a form of rhetoric that has existed for millennia, that is particularly potent in the realm of political debate, and that, purely incidentally, forms the basis of The Onion’s writers’ paychecks.”

Loretta Lynn, country music luminary and songwriting pioneer, dies at 90

Loretta Lynn, America’s groundbreaking country titan whose frank lyricism delving into women’s experiences with sex, infidelity and pregnancy touched the nerve of a nation, has died. She was 90 years old.

She “passed peacefully in her sleep” at her ranch in Tennessee Tuesday morning, her family said in a statement sent to AFP.

Lynn saw a number of her edgy tracks banned by country music stations, but over the course of more than six decades in the business, she became a standard-bearer of the genre and its most decorated female artist ever.

Born Loretta Webb on April 14, 1932 in small-town Kentucky, Lynn was the eldest daughter in an impoverished family of eight kids, a childhood she immortalized in her iconic track “Coal Miner’s Daughter” — a staple on lists of all-time best songs.

“Well, I was borned a coal miner’s daughter / In a cabin, on a hill in Butcher Holler,” Lynn sang in the hit recorded in 1970 — later the theme song for a 1980 movie about her life starring Sissy Spacek, who won an Oscar for the role. 

“We were poor but we had love / That’s the one thing that daddy made sure of. He shoveled coal to make a poor man’s dollar.”

At just 15 years old, the artist married Oliver Vanetta Lynn, who she remained married to for nearly 50 years until his death in 1996.

They moved to a logging community in Washington state, and Lynn gave birth to four children before the age of 20, adding twins to the family not long after.

An admirer of his wife’s voice, her husband bought Lynn a guitar in the early 1950s.

It would be a fateful gift.

The self-taught musician penned lyrics inspired by her own early experiences as a married woman and her oft-tumultuous relationship, the nascent days of a prolific career that would see the artist release dozens of albums.

She started her own band, Loretta and the Trailblazers, and began playing bar sets before cutting her first record — “I’m a Honky Tonk Girl” in 1960.

Her twang was warm and languid but Lynn’s lyrics were anything but: She sang with searing precision of marriage’s growing pains and gave voice to issues facing women that had long been kept quiet.

“Most songwriters tended to write about falling in love, breaking up and being alone, things like that,” Lynn told The Wall Street Journal in 2016. “The female view I wrote about was new.”

“I just wrote about what I knew, and what I knew usually involved something that somebody did to me.”

– ‘The Pill’ –

The Lynns began touring nationwide to promote the singer’s work to radio stations, and she made her debut at the storied Grand Ole Opry in 1960, going on to become one of the Nashville institution’s most acclaimed acts.

During her early years in the industry, she found a friend and mentor in Patsy Cline, one of the 20th century’s most influential singers who died in a plane crash in 1963 at age 30.

She also formed a longstanding creative partnership with Conway Twitty, with the pair becoming one of country’s classic duet acts. 

Lynn released hit single after hit single, including 1966’s “Dear Uncle Sam” — one of the era’s first tracks to document the tragedy of the Vietnam War.

Also in 1966, she put out “You Ain’t Woman Enough (To Take My Man),” which went straight to the top of the charts and made her the first woman in country to pen a number one hit.

In 1969, she released one of her most controversial songs, “Wings Upon Your Horns,” which describes through religious metaphor a teenager losing her virginity.

But her runaway success continued and she dominated the 1970s with hits such as “Fist City” — a stern warning to her cheating husband’s lover — and 1972’s “Rated X,” which triggered an outcry in discussing the stigmas faced by divorced women.

In 1975, she released “The Pill,” which praised the freedoms of birth control. 

“This incubator is overused / Because you’ve kept it filled / The feelin’ good comes easy now / Since I’ve got the pill,” Lynn sang.

“When I’d put out a record, they’d say, ‘Uh oh, another dirty song.’ ‘Rated X’? They thought that was going to be bad. But hey, it sold. ‘One’s on the Way’? They thought that song would really be dirty,” she told Billboard in 2015. 

“But everything I sang about was everyday living.”

– ‘The truth’ –

In 1988, Lynn was inducted into the Country Music Hall of Fame as one of its most storied legends.

She won virtually every arts honor available, including the prestigious Presidential Medal of Freedom, the nation’s highest civilian award, given to her by Barack Obama in 2013.

Despite the progressive airs of her music, Lynn would insist that her clearly political music had “no politics.” She leaned Republican most of her life, frequently performing for and supporting right-wing candidates — including Donald Trump in 2016 — even as she also voiced support for Democrats like Jimmy Carter.

But she was universally beloved in the industry she deeply influenced, collaborating with scores of artists including Dolly Parton, Willie Nelson and Elvis Costello. In 2004 she released the album “Van Lear Rose,” produced by Jack White.

In 2021, a month before turning 89, she released the album “Still Woman Enough,” which featured re-recordings and new material.

“As long as I’m on this earth, I will try to be on top — somewhere,” she once told Billboard, explaining that she’d never retire from music.

“When they lay me down six feet under, they can say, ‘Loretta’s quit singing.’ I’ll have on one of my gowns,” she continued.

“That’s morbid, but it’s the truth.”

Micron unveils new $100 bn New York semiconductor plant

Micron announced Tuesday it will invest up to $100 billion to build semiconductors in New York state, capitalizing on US policies to boost domestic manufacturing of key goods.

The chip giant, which is based in the western state of Idaho, said it plans to begin construction in 2024 on a project expected to be executed over two decades. 

New York state is providing $5.5 billion in state incentives over the life of the build-out and the project also expects to utilize tax credits under the Chips Act signed into law by President Biden in August, said a Micron news release.

At an event in Syracuse to announce the investment, New York Governor Kathy Hochul likened the drive to a “fourth industrial revolution” and alluded to an improvement in fortunes for a upstate New York region that had lost thousands of manufacturing jobs in earlier decades.

There is “hope of a better tomorrow,” Hochul said.

Micron, describing the plant as the “largest semiconductor fabrication facility in the history of the United States,” said the venture would create 50,000 jobs in the state, including 9,000 at Micron. 

Biden touted the investment as reflecting the importance of the Chips and Science Act, which included around $52 billion to promote production of microchips, the tiny but powerful and relatively hard-to-make components at the heart of almost every modern piece of machinery.

“To those who doubted that America could dominate the industries of the future, I say this -– you should never bet against the American people,” Biden said in a news release. “Today is another win for America.”

Shortages of semiconductors have been a drag on the global economy during the pandemic, crimping production of automobiles, personal electronics and other goods.

Micron Chief Executive Sanya Mehrota said the investment “will deliver benefits beyond the semiconductor industry by strengthening US technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come.”

Micron unveils new $100 bn New York semiconductor plant

Micron announced Tuesday it will invest up to $100 billion to build semiconductors in New York state, capitalizing on US policies to boost domestic manufacturing of key goods.

The chip giant, which is based in the western state of Idaho, said it plans to begin construction in 2024 on a project expected to be executed over two decades. 

New York state is providing $5.5 billion in state incentives over the life of the build-out and the project also expects to utilize tax credits under the Chips Act signed into law by President Biden in August, said a Micron news release.

At an event in Syracuse to announce the investment, New York Governor Kathy Hochul likened the drive to a “fourth industrial revolution” and alluded to an improvement in fortunes for a upstate New York region that had lost thousands of manufacturing jobs in earlier decades.

There is “hope of a better tomorrow,” Hochul said.

Micron, describing the plant as the “largest semiconductor fabrication facility in the history of the United States,” said the venture would create 50,000 jobs in the state, including 9,000 at Micron. 

Biden touted the investment as reflecting the importance of the Chips and Science Act, which included around $52 billion to promote production of microchips, the tiny but powerful and relatively hard-to-make components at the heart of almost every modern piece of machinery.

“To those who doubted that America could dominate the industries of the future, I say this -– you should never bet against the American people,” Biden said in a news release. “Today is another win for America.”

Shortages of semiconductors have been a drag on the global economy during the pandemic, crimping production of automobiles, personal electronics and other goods.

Micron Chief Executive Sanya Mehrota said the investment “will deliver benefits beyond the semiconductor industry by strengthening US technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come.”

Markets surge on interest rate hopes

Global stocks rallied Tuesday and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.

Frankfurt and Paris equities soared more than three percent in value after similar stellar gains in Tokyo, while London won two percent.

Wall Street stocks snapped higher at the open, with the Dow climbing 1.3 percent.

“Weaker-than-expected manufacturing data from the US was taken as a signal that rising interest rates may be having some effect on cooling demand for goods,” said Interactive Investor analyst Richard Hunter.

“This in turn led to hopes of a Federal Reserve pivot, even though the spectre of inflation remains firmly at the top of their stated to-do list.”

The Fed and other central banks across the world have raised interest rates in efforts to tame runaway inflation, but the monetary tightening has raised fears that it could plunge countries into recession.

Those concerns have fed into sharp drops in stocks in recent weeks, as have expectations that the Fed will have to raise interest rates by a couple more percentage points through much of next year to get on top of inflation.

But Wall Street had enjoyed a bumper start to the fourth quarter on Monday after data showed US manufacturing growth slowed more than expected in September to its weakest in more than two years.

The Institute for Supply Management said its manufacturing index dropped 1.9 points to 50.9 percent, just barely above the 50-percent threshold indicating expansion, as the prices index fell to the lowest in more than two years.

Eurozone manufacturing survey data out Monday showed a contraction on the back of the region’s ongoing energy crisis.

“The turnaround in risk appetite appears to have been driven by another deterioration in PMI surveys as traders speculate that such weakness could be a precursor to slower monetary tightening,” noted OANDA market analyst Craig Erlam.

Asian markets built on the Monday Wall Street surge. Tokyo and Seoul were among the leaders, despite news that North Korea had fired a missile over Japan for the first time since 2017.

Sydney soared 3.8 percent after the Reserve Bank of Australia lifted interest rates by less than expected.

Hong Kong and Shanghai were closed for holidays.

Investors will focus later this week on Friday’s all-important US jobs figures for the latest reading on the health of the world’s biggest economy.

“The specter of the September employment report on Friday, however, is still hanging out there as a potential spoiler,” said Briefing.com analyst Patrick O’Hare.

“By the same token, it could also provide more interest rate relief if it is on the weaker side of things,” he added.

– Sterling extends gains –

Oil also continued to rise on expectations OPEC and other major producers will slash output this week, having become spooked by a plunge in the commodity on recession fears.

The 13 members of the Organization of the Petroleum Exporting Countries (OPEC), led by Riyadh, and their 10 allies headed by Moscow will hold Wednesday their first in-person meeting at the group’s headquarters in Vienna since March 2020.

The rally in equities came as the dollar weakened owing to lower expectations for US monetary tightening, with the pound also supported by the UK government’s decision to scrap a planned cut in the top rate of income tax.

The pound extended gains after breaking back above $1.13, having last Monday tanked to a record low $1.0350. The euro rose around one percent against the greenback.

– Key figures around 1330 GMT –

Paris – CAC 40: UP 3.2 percent at 5,980.38 points

Frankfurt – DAX: UP 2.8 percent at 12,549.25

London – FTSE 100: UP 2.0 percent at 7,047.34

EURO STOXX 50: UP 3.2 percent at 3,449.00

New York – Dow: UP 1.3 percent at 29,873.99

Tokyo – Nikkei 225: UP 3.0 percent at 26,992.21 (close)

Hong Kong – Hang Seng Index: Closed for a holiday

Shanghai – Composite: Closed for a holiday

Pound/dollar: UP at $1.1358 from $1.1323 on Monday

Euro/dollar: UP at $0.9917 from $0.9826

Euro/pound: UP at 87.33 pence from 86.77 pence

Dollar/yen: UP at 144.74 yen from 144.55 yen

Brent North Sea crude: UP 2.8 percent at $91.31 per barrel

West Texas Intermediate: UP 2.6 percent at $85.83 per barrel

burs-rl/jm

UK's Truss says 'no shame' in climbdown amid Tory tensions

Britain’s Prime Minister Liz Truss insisted Tuesday she felt “no shame” and vowed to press on with unpopular economic reforms despite lurching into a self-inflicted crisis just a month into her term.

Despite Truss’s attempts to move on, cabinet splits emerged as the ruling Conservatives endured another stormy day at their annual conference in Birmingham, central England.

Truss and Chancellor of the Exchequer Kwasi Kwarteng have been forced to climb down on their plan to cut income tax for the richest, as ordinary Britons suffer the worst cost-of-living crisis in generations.

The plan met with uproar from Tory critics, deep disapproval in opinion polls, and destabilised financial markets given its reliance on billions extra in government borrowing.

“I think there’s absolutely no shame in a leader listening to people and responding, and that’s the kind of person I am,” Truss told Sky News.

Reiterating that the tax cut had proved a “distraction”, she added on the BBC: “I want to take people with me. Yes, we are going to have to make tough decisions.”

“I’m determined to carry on with this growth package,” she told LBC radio, stressing another component of the plan to cap soaring energy bills.

– Budget confusion –

Truss and Kwarteng were widely reported as bringing forward a major debt reduction plan to later this month, having insisted previously that it would only come on November 23.

Its unveiling will be accompanied by independent forecasts from the Office for Budget Responsibility (OBR), in a bid to calm febrile financial markets.

But the two politicians both insisted November 23 remained the date, with Kwarteng telling GB News that media had been “reading the runes” incorrectly.

Mel Stride, the Tory chairman of the powerful Treasury committee in the House of Commons, had welcomed the reporting of an earlier date to show how the government intends to fix its finances.

Acting in advance of the Bank of England’s next rate-setting meeting on November 3 could “reduce the upward pressure on interest rates to the benefit of millions of people up and down the country”, he added.

Potential cuts to the welfare budget are shaping up as the next battle with dissident Tory MPs after the aborted tax cut.

“We have to look at these issues in the round. We have to be fiscally responsible,” Truss told BBC radio.

– ‘Coup’ –

But senior minister Penny Mordaunt, one of the candidates Truss beat in the Tory leadership race, stepped out of the cabinet line.

It “makes sense” that welfare should still rise in line with soaring rates of inflation, she told Times Radio.

“That’s what I voted for before, and so have a lot of my colleagues.”

Truss said she did not intend to fire Mordaunt, and denied that she had lost control of her cabinet after putting on a show of unity with Kwarteng on a visit to a construction site in Birmingham.

“We are working with our MPs, this is a team, this Conservative team, putting forward our policies for the country and delivering for the country,” she told ITV.

There was little team spirit on display from Home Secretary Suella Braverman, however, as she accused party critics of seeking to stage a “coup” against Truss.

And many commentators argued Truss’s credibility was already in tatters not long after she succeeded Boris Johnson on September 6.

The Daily Mail newspaper, normally a trenchant voice in support of the new leader’s right-wing agenda, headlined its main story: “Get a grip!”

– Honouring Boris –

Dissident ringleader Michael Gove kept up criticism of Truss, stressing all Conservative MPs had been elected on Johnson’s manifesto of 2019. 

It included a pledge to end arbitrary evictions of tenants by private landlords, he noted at a conference fringe event held by the housing charity Shelter. 

“We’ve got to keep faith with what Boris wanted, we’ve got to make sure that manifesto commitment is honoured,” Gove said, after Truss reneged on a Johnson commitment to ban fracking. 

But asked by reporters if Truss would survive past the end of the year, the former minister said: “Yes.”

Shelter presented poll findings that suggested private renters who voted Tory in 2019 are deserting the party in droves for Labour and other opposition parties. 

Wider opinion polls in recent days have shown Labour breaching 50 percent as the Tories slump under Truss, fraying nerves in Birmingham as she prepares to close the conference on Wednesday.

US Supreme Court to consider Black voting rights case

The United States Supreme Court on Tuesday is considering a redistricting proposal in the state of Alabama that is accused of diminishing the influence of African American voters. 

The case is attracting attention because a ruling from the court could impact the scope of the Voting Rights Act, a key 1965 law that protected African Americans’ right to vote. 

The case concerns a map to allocate seats in the House of Representatives that was redrawn in 2021 by the state’s Republican elected officials. 

According to the new map, Black voters — who represent around a quarter of registered voters state-wide — are in a majority in only one of seven districts. 

Citizens and rights groups took the matter to court, accusing legislators of violating civil rights laws, which prohibit diluting the African American vote in this way. 

They say the new map cuts through the middle of a predominantly Black region, the “Black Belt,” and splits it in two. 

The petitioners believe that Alabama should have created a second district with a Black majority instead. 

The stakes are particularly high in this state, where African Americans vote mostly Democratic, while white voters mostly support Republicans. 

– ‘Unfortunate reality’ –

Earlier this year, a lower court ruled in favor of the plaintiffs and ordered local officials to turn in a new copy of the map. 

Republican officials then turned to the Supreme Court. 

In February, five of the nine judges at the apex court allowed them to keep the 2021 map for now — and thus for the US mid-term elections in November — while postponing consideration of the merits of the case. 

Now, the parties will face off at the Supreme Court to make their cases. 

In addition to the debate over its map, Alabama will also argue that the US constitution prohibits the use of ethnicity as a basis for drawing electoral districts. 

The Voting Rights Act, however, allows it to be used to ensure that voters from minority groups have elected officials who reflect their views. 

“If the court allows this to be overturned, it will undoubtedly have a significant impact on community representation,” Sophia Lin Lakin, who is monitoring the case for the American Civil Liberties Union (ACLU), said at a news conference. 

Democratic President Joe Biden’s administration also supports the current legal framework.

It is “a measured response to the unfortunate reality of persistent voting blocs” based on skin color, he said in a filing to the court. 

UK's embattled govt stares at new U-turn on economy

Britain’s Prime Minister Liz Truss defended her contentious plan to kick-start economic growth through tax cuts, despite expectations Tuesday of a second damaging U-turn.

Fresh from a humiliating climbdown on cutting income tax for the richest, Truss and Chancellor of the Exchequer Kwasi Kwarteng were set to bring forward a major debt reduction plan, the Financial Times and others reported.

Its unveiling will come later this month rather than on November 23, and will be accompanied by independent forecasts from the Office for Budget Responsibility (OBR) in a bid to calm febrile financial markets, the reports said.

The government declined to confirm the reports, as Truss and Kwarteng endured another difficult day at the ruling Conservatives’ annual conference in Birmingham, central England.

But Mel Stride, the Tory chairman of the powerful Treasury committee in the House of Commons, said: “I have pressed the chancellor very hard on this and to his credit he has listened.”

Acting in advance of the Bank of England’s next rate-setting meeting on November 3 could “reduce the upward pressure on interest rates to the benefit of millions of people up and down the country”, he added.

Asked if any more U-turns were coming, Truss was evasive in an interview with LBC radio broadcast Tuesday but recorded on Monday.

“I’m determined to carry on with this growth package,” she said, stressing another component of the plan to cap soaring energy bills. 

“That’s what’s important, but it’s also important that we do listen to people and we bring the country with us.” 

– ‘Get a grip!’ –

Truss refused to rule out cuts to benefits as poorer Britons struggle with the worst cost-of-living crisis in generations.

“I’m very committed to supporting the most vulnerable,” Truss told BBC radio in another pre-recorded interview aired Tuesday.

But she added: “We have to look at these issues in the round. We have to be fiscally responsible.”

Potential cuts to the welfare budget are shaping up as the next battle with dissident Tory MPs after the aborted tax cut, part of a package that relies on billions more in new borrowing.

Splits have also emerged in the cabinet.

Senior minister Penny Mordaunt, one of the candidates Truss beat in the Tory leadership race, said it “makes sense” that welfare should still rise in line with soaring rates of inflation.

“That’s what I voted for before, and so have a lot of my colleagues,” she told Times Radio. 

Media coverage of Monday’s volte-face was damning, with many commentators arguing Truss’s credibility was already in tatters less than a month since she succeeded Boris Johnson.

The Daily Mail newspaper, normally a trenchant voice in support of the new leader’s right-wing agenda, headlined its main story: “Get a grip!”

– Kwarteng’s quips –

Coverage of Kwarteng’s lacklustre speech to the Tory conference on Monday, which had to be rapidly rewritten after the tax plan was ditched, was also damning.

There was particular criticism of the finance minister’s jocular tone, which he reinforced at an evening reception with the Policy Exchange think-tank.

Market reactions that saw the pound slump to an all-time low against the dollar last week had been “hullabaloo”, he said.

Policy Exchange, he also told his laughing hosts, was “twice as old as the OBR — that gives you huge authority”.

Dissident ringleader Michael Gove kept up criticism of Truss on Tuesday, stressing all Conservative MPs had been elected on Johnson’s manifesto of 2019. 

It included a pledge to end arbitrary evictions of tenants by private landlords, he noted at a conference fringe event held by the housing charity Shelter. 

“We’ve got to keep faith with what Boris wanted, we’ve got to make sure that manifesto commitment is honoured,” Gove said, after Truss reneged on a Johnson commitment to ban fracking. 

But asked by reporters if Truss would survive past the end of the year, the former minister said: “Yes.”

Shelter presented poll findings that suggested private renters who voted Tory in 2019 are deserting the party in droves for Labour and other opposition parties. 

Conservative seats at risk in the MRP poll included Johnson’s own constituency in west London. 

Wider opinion polls in recent days have shown Labour breaching 50 percent as the Tories slump under Truss, raising the stakes as she prepares to close the Birmingham conference on Wednesday.

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