UK Prime Minister Liz Truss admitted fault and expressed regret for the errors made in the month since she took office. The contentious 

tax cuts revealed in the most recent mini-budget wreaked havoc on the British markets and caused the Sterling to drop.

Liz Truss apologised for the economic measures that her administration undertook

“What I'm focused on is delivering for the British public. Now, I recognize we have made mistakes, I'm sorry for those mistakes, but I've fixed mistakes. I've appointed a new Chancellor, we have restored economic stability and fiscal discipline and what I now want to do is go on and deliver for the public. We were elected on the 2019 manifesto. I'm determined to deliver on that leveling up, securing investment into all parts of our country, getting roads built, getting opportunities right across the nation. And that's what I'm thinking about and that's what I'm focused on”.

These remarks were made by the British Prime Minister as she was speaking to the BBC. After a tumultuous day at Westminster on Monday, 

Jeremy Hunt, the Chancellor of the Exchequer, cancelled almost all of the tax cuts

 and issued a caution that worse choices might need to be made in the coming days.

The new Chancellor Jeremy Hunt has reversed all the economic measures taken by the Liz Truss administration

, “We are a country that funds our promises and pays our debts, and when that is questioned, as it has been, this government will take the difficult decisions necessary to ensure there is trust and confidence in our national finances. We are going to have very difficult decisions both on tax and spending in the next couple of weeks”.

Chancellor's remarks have questioned Liz Truss's integrity

Investors have appreciated the Chancellor's budget update, but Liz Truss's integrity has been questioned. 

Her campaign for the Tory leadership heavily emphasised tax cuts,

 and in recent weeks, she has been on the defensive about the idea until she was reportedly pressured by Tory MPs to make these policy u-turns.

Before the Chancellor delivered his presentation, 

Liz Truss in the House of Commons rejected a request to explain the u-turns to MPs herself. 

However, the leader of the Commons, Penny Mordent, said that the Prime Minister had been held for essential business.

While one of her MPs made fun of Liz Truss, 

 accused her of holding onto power while leaving a complete void in government. 

Labour party leader Keir Starmer was also quite critical of Liz Truss

Liz Truss could be the shortest-serving PM ever

The situation could not be worse at 10 Downing Street. The battle for UK Prime Minister Liz Truss's political life may be coming to a conclusion soon, and many believe it won't be in her favour. 

 Or may there already be a dismissal? Some analysts even predict that she would resign within a week or two, and Britain is closely monitoring the situation to see 

if she will become the UK prime minister with the shortest tenure since 1759.

According to reports, Graham Brady, the chairman of the party committee that organises the leadership contest, the mini-budget u-turn, and the market turmoil that has followed, 

is set to receive letters of no confidence from close to 100 Conservative Party MPs.

 This puts Truss in a difficult position. Her "go-for-growth" economic plan has already been dismantled by Jeremy Hunt, the recently appointed chancellor.

Truss has brought in someone from the party's centre who has very different economic ideas from her own. From the centre of the celebration, Jeremy Hunt. 

She is on the far right of the libertarian spectrum,

 and members of the Tory Party are plotting a purported rescue operation. 

Three MPs have so far come forward publicly to call for her resignation.

Let's examine the potential successors to Truss, who would become the fifth Conservative prime minister since Brexit if she were to be deposed.

It's like deja vu all over again. Just over a month after the UK elected a new leader, we are discussing PM prospects once more.

It is quite a fluid situation. It may end at any time, and someone else could take her place. 

Liz Truss still holds the position of power for at least another eleven months.

 In order to remove someone, they would need to find a big majority of MPs who support them. 

The Chancellor now possesses total authority. All of the Chancellor's positions are being abandoned. 

She is a leader, but she has no authority.

Indian-origin Rishi Sunak could be the new Prime Minister of Britain

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