Liz Truss resigns – statement from Simon Webb at LiveMore Capital

“The resignation of Liz Truss throws the country into further turmoil just as the markets were starting to settle down.  The term “we need a grown up in charge” has been somewhat over-used in the past couple of days, but the sentiment is true if what it means is that we need competence and stability.  At least the Conservative party has pledged to elect the new leader within the week so the period of uncertainty will be limited. What we need then are sensible, sound fiscal policies that run through to the next general election, to reassure the markets and give the country and the rest of the world the confidence that the UK is still a sound place to invest and do business.  Of utmost urgency for every mortgage holder is the need to see interest rates and the cost of living stabilise so that they can budget for their futures.”

Simon Webb, managing director finance and capital markets at LiveMore Capital