en en it en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en pl en en en en en sv fr de de fr fr fr sv en fr en ja fr de fr es nb fr de en en sv de de fr en fr it fr en fr en ar en en en en en en
The country is heading into a grim winter with an untested prime minister and now without the only head of state most people have ever known.
Desert Crown wins 243rd Epsom Derby as Princess Anne steps…
Queen pulls out of jubilee service due to 'discomfort'…
Queen Elizabeth: How 70 years of portraits have made her an…
Emily Ashton and Alex Wickham
Sep 10, 2022  •  29 minutes ago  •  4 minute read  •  Join the conversation
(Bloomberg) — Rail and postal workers have suspended strike action, the Bank of England has postponed its next interest-rate decision, and the government might delay an emergency budget. Even the pound halted its decline.
This advertisement has not loaded yet, but your article continues below.
The UK has hit pause following the death of Queen Elizabeth II on Thursday as an official 10-day mourning period starts. For now, national attention is focused on the state funeral and tributes to the life and service of the 96-year-old monarch rather than inflation and the parlous state of the economy.
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300
Thanks for signing up!
A welcome email is on its way. If you don’t see it, please check your junk folder.
The next issue of Financial Post Top Stories will soon be in your inbox.
We encountered an issue signing you up. Please try again
But as reminiscences over her majesty give way to renewed rumblings of anxiety about a long, cold winter ahead, another harsh reality will hit home: just as the UK craves strong leadership and guidance, in the space of 48 hours the country has ushered in a new, untested prime minister and seen the departure of a legendary head of state who had seen it all before.
There is deep uncertainty not only about Liz Truss’s government and whether her package to contain energy bills will be enough, but about King Charles III and how his reign will shape the country. He inherits a monarchy that is already undergoing change, not least in its relationship with some Commonwealth nations where republican sentiment is growing.
This advertisement has not loaded yet, but your article continues below.
There was an air of concern about what comes next as crowds thronged outside Buckingham Palace on Friday morning, where police had set up a one-way system of foot traffic outside the gates so people could place bunches of flowers. Some mourners were visibly moved as they stood and read the messages on cards and teddy bears.
Valerie Biggs, 80, a pensioner from Cambridge visiting with her daughter-in-law, acknowledged the nervousness about the months ahead. “The country is not in a good place,” she said. “But we’ve got to hope for the best.”
Richard Phillips, 59, and Emilia Hutnik, 37, said they had closed the shoe store where they work in the West End of London to come and pay their respects. “Politicians are up and down, you don’t always trust them,” Phillips said. “But the queen, there was no political angle. It was all from the heart.”
This advertisement has not loaded yet, but your article continues below.
Elizabeth’s sudden death came as a shock to many, despite her great age and increasing frailty. As Charles, her eldest son and heir, arrived at Buckingham Palace and walked about greeting well-wishers, he looked visibly shaken by grief, as he did during an address to the nation later on Friday.
Her Platinum Jubilee weekend in June brought vibrant celebrations across the country by all generations, not least by young children at schools and nurseries. At the time the jubilee was seen as a welcome — if jarring — break from the gloom facing Britain.
Those perils have gotten worse. The country faces soaring energy costs this winter with blackouts and factory slowdowns forecast in government worst-case scenarios. Ambulance waiting times are at record levels. Swathes of workers, from bin collectors to barristers, have walked out over pay disputes. The pound hit its lowest level against the dollar since 1985 on Wednesday.
This advertisement has not loaded yet, but your article continues below.
“At a time when the government should really be knuckling down and getting on with things, we’re all in a state of shock,” said Sarah Southern, host of Windsor Watch, a podcast dedicated to the royal family. “It’s going to provide a level of uncertainty and anxiety for a lot of people because the one thing that has always been stable in their life has suddenly disappeared.”
Prime Minister Truss had repeatedly said she wanted to “hit the ground running” when she took office, but within hours of her premiership any political momentum became paralyzed — albeit, of course, due to events beyond her control.
Just minutes after she announced her plan to freeze household energy bills and cap costs for businesses, notes were being passed between senior parliamentarians about the queen’s health.
This advertisement has not loaded yet, but your article continues below.
Normal politics were suspended upon news of Elizabeth’s death on Thursday evening, with officials at Buckingham Palace now in almost total control of events in the run-up to her funeral.
Senior members of the government, including Truss, had known that the queen had become frail in recent months. It was referenced in transition conversations between Truss’s team and senior government officials that the monarch’s death could inevitably come during her premiership.
Yet nothing could prepare the new premier for what happened on her second day in office, one ally said, adding that the queen had been in great spirits at their meeting at the royal residence in Balmoral, Scotland, on Tuesday.
Truss’s first month was always expected to be extremely difficult politically, with questions about her so far un-costed energy policy — which could reach £200 billion ($232 billion) — and management of a fractious Conservative Party in parliament after it ousted her predecessor, Boris Johnson. Those questions would now be silenced for at least 10 days.
This advertisement has not loaded yet, but your article continues below.
Government officials insisted work would continue on her key policies. Any legislation needed for her energy policy to come into effect in October could be introduced after the queen’s funeral later this month, they said.
But in the meantime, the country remembers the only monarch that the vast majority of the population has ever known. As well as the suspension to strikes and protests, football matches and some other sporting events have been canceled.
“The loss of our queen robs this country of its stillest point, its greatest comfort,” Keir Starmer, leader of the opposition Labour Party, told a hushed House of Commons during tributes on Friday, “at precisely the time we need those things most.”
Share this article in your social network
This advertisement has not loaded yet, but your article continues below.
Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.
Quoted from Various Sources
You may also like
Japan’s Shionogi says COVID pill reaches Phase III milestone By Reuters
Wall Street banks to pay $1.8bn over messaging violations
Hockey players’ scoring after learning their teammates’ pay could show the pitfalls of knowing what your coworkers make
Cathie Wood’s new fund gives small investors access to the VC market for just $500
Farmers threaten to quit NFU as leader backs scrapping of “Brexit bonus” nature subsidies
Gold Rises From Two-Year Low as Dollar’s Steep Increase Stalls
Japan’s Shionogi says COVID pill reaches Phase III milestone By Reuters
Wall Street banks to pay $1.8bn over messaging violations
Hockey players’ scoring after learning their teammates’ pay could show the pitfalls of knowing what your coworkers make
Cathie Wood’s new fund gives small investors access to the VC market for just $500
Farmers threaten to quit NFU as leader backs scrapping of “Brexit bonus” nature subsidies
Categories Select Category @Nordstrom #EQUALITY • 7 of 8 People Are Clueless About This Trillion-Dollar Market • Motley Fool Issues Rare Triple-Buy Alert • This Stock Could Be Like Buying Amazon in 1997 $230 billion in cash 000 medical trainees from foreign countries 2017 6 AAN AAPL according according to Ariely AMZN annual sales anti-Trump protest in Mexico City bailout agreed in 2015 behavioral economist Dan Ariely BIG biometric payments brought back unlimited plans earlier last year Business Administration Business Analyst Business Center Business Class Business Consultant Business Development Business Digital Business Economics Business Environment Business Executive Business Global Business Goals Business Growth Business Idea Business Inquiries Business Intelligence Business Journal Business Kit Business Knowledge Business Logic Business News Business Plan Business Risk BuzzFeed noted last December. CHTR clashing with Apple CNNMoney’s own Fear & Greed Index COKE compliance cut its CEO’s pay deal immediately boosted prices described eliminated its version of an unlimited usage plan in 2011 EQIX February 12 February 8 finally disappear in 2017 General Article GOOG Health hinted that Tesla may soon come to India. INFY intraday trading high is scheduled for a final vote before the full Senate IWM JJSF jumped 7{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9} in the first two days JWN KAMN knocked the department store on Twitter in retaliation LeBron James M made their own bids to attract customers MAS MSFT NAFTA Nearly all NYC subways get cell service one of the top buyers pic.twitter.com/ki5NaJN12d Qapital Visa Debit Related: ‘Without NAFTA’ we’d be out of business Related: A startup that makes pencils that grow into vegetables Related: Apple stock nears a record high Related: Charter shares popped on report of possible Verizon takeover Related: Elon Musk’s surprising secret weapon: Trump? Related: Here’s why the world’s largest money manager is worried Related: How Europe’s elections could be hacked Related: India freaks out over U.S. plans to change high-skilled visas Related: Is Ivanka Trump’s brand losing its bling? Related: Kellyanne Conway unrepentant for Ivanka Trump plug Related: Mexican farmer’s daughter: NAFTA destroyed us Related: Mexico doubles down on Trump ‘contingency plan’ Related: Obamacare’s impact on this Alaska town with only one doctor’s office Related: OPEC has pulled off one of its ‘deepest’ production cuts Related: Oreo make is worried about rise of populism Related: Possible pick for Treasury secretary makes his film debut Related: Pro-Trump boycott calls follow Super Bowl ads Related: Rare streak for U.S. stocks: Long stretch without a 1{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9} dive Related: Remember Smoot-Hawley: America’s last major trade war Related: Stocks have avoided a 1{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9} dive for an unusually long period of time Related: T-Mobile and Sprint offer new ‘unlimited’ data plans — sort of Related: Tech industry braces for Trump’s visa reform Related: Tesla reveals what it will charge for a charge Related: The company turning 4 billion plastic bottles into clothes Related: Those Reagan tariffs Trump loves to talk about Related: Tim Cook: ‘Apple would not exist without immigration’ Related: Trump furious after court upholds block on travel ban Related: Trump isn’t killing the bull market Related: Trump travel ban and what you need to know Related: Uber CEO drops out of Trump’s business advisory council Related: Uber suspends its service in Taiwan as fines mount Related: Uber’s rivals are teaming up in Asia Related: Verizon brings back unlimited data plans Related: Visa ban could make doctor shortage in rural America even worse Related: Wall Street has powerful seat at Trump’s table renegotiate NAFTA research S said Jan. 13 sales Saudi oil minister: I don’t lose sleep over shale Sears spokesman Brian Hanover told Reuters Serena Williams similarly eliminated overage fees for customers in September smartphone recall woes Smoot-Hawley Act. Speaking with The Daily Telegraph newspaper T teased plans temporarily halted temporary immigration ban tenth anniversary TIF TJX TMUS to go green Trump has often slammed TSLA TWX VG VIX VZ why it decided to stop carrying Ivanka Trump’s clothing and accessories label YHOO
Archives Select Month September 2022 August 2022 July 2022 June 2022 May 2022 April 2022 March 2022 February 2022 January 2022 December 2021 November 2021 October 2021 August 2021 July 2021 May 2021 March 2021 January 2021 December 2020 November 2020 October 2020 September 2020 August 2020 July 2020 June 2020 May 2020 April 2020 March 2020 February 2020 December 2019 November 2019 October 2019 September 2019 August 2019 July 2019 June 2019 May 2019 April 2019 March 2019 February 2019 January 2019 December 2018 September 2018 February 2017 January 1970