Oliver Dowden resigns as chairman of UK Conservative Party

In case you missed it, the Tories suffered two losses in by-elections yesterday. Labour won back Wakefield, which was seized among the 'red wall' seat back in 2019. Meanwhile, Lib Dems took Tiverton and Honiton with a 30% swing in votes.

It is a major upset for Boris Johnson but it arguably highlights the growing discontent with the government amid the cost-of-living crisis that is brewing. Dowden says that the party "cannot carry on with business as usual" and that "it would not be right for me to remain in office". Adding that "our supporters are distressed and disappointed by recent events, and I share their feelings."

GBP GBP The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth The Great British pound (GBP) or pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia, and other pacific territories.The GBP is currently the fourth most-traded currency worldwide in forex markets after the US dollar, euro, and Japanese yen.As the oldest currency in continual use, the GBP holds great weight on the world market and is also the fourth largest reserve currency.The Bank of England (BoE) is the central banking auth Read this Term