• Podcast Why can't anyone stick it out in Downing Street?

    "There is already a banana republic point"

  • United Kingdom Liz Truss, the 'premier' who never conquered the British

A British minister forced to resign tends to settle accounts, habitually, with a speech in the Westminster Parliament critical of the government in power.

Liz Truss, who commanded the most short-lived leadership of all time for just 49 days last fall, instead vents her frustration in a 4,000-word article, published this Sunday in the

Sunday Telegraph

,

in which she blames the "powerful establishment economy" from the failure of his fiscal plan and political project

, which pushed the United Kingdom to the brink of bankruptcy.

The former prime minister regrets not having had "a realistic opportunity" to implement her plan for growth and deregulation of the economy, due to the "very powerful economic establishment" and the "lack of political support" from her co-religionists in the Conservative Party.

"I assumed, on entering Downing Street, that my mandate would be respected and accepted. How wrong was I!"

, she exclaims before admitting that it was a "painful experience on a personal level."

He acknowledges that he is not completely "irreproachable", reiterates that the communication of the plan could be improved, but does not echo the impact of his fiscal strategy on citizens who suddenly faced more expensive mortgages or devalued pensions.

Truss remains convinced that her recipe for economic growth, supported by a package of unjustified tax cuts of more than 50,000 million euros, would have worked in the "medium term."

And he reproaches the opposition of the "most orthodox economic ecosystem", which includes the Ministry of Economy, the Bank of England and the Office of Fiscal Responsibility, at the national level, and the IMF, President Joe Biden or the G7, among other international factors.

"I underestimated the power of economic orthodoxy and its influence on markets,"

he analyzes.

The former

premier

is referring to her commercial and political reaction to her

mini

state budget of hers, on September 23, which triggered a brutal depreciation of the pound sterling and an increase in the cost of public debt.

Business Minister Grant Shapps was responsible for responding to Truss's self-defense, under whose mandate he managed the Interior portfolio.

"You have to deal with the big structural issues, with inflation, with debt, before moving towards tax cuts," Rishi Sunak's cabinet member said on television.

Sunak lost the

Tory

leadership to Truss in the summer of 2022 precisely because of his opposition to the short-term tax cut.

He continues to be pressured by a large minority of parliamentarians and a section of the party's big donors, who want a change of direction in the next budgets, scheduled for March.

Among the internal opposition to the prime minister's economic discipline are members of the Conservative Growth Group (CGG), recently formed to encourage the return of its fallen leader and promote the benefits of a minimum-tax economy, deregulated from community impositions and internationally competitive.

They are consistent, according to Jake Berry, former party chairman and critic of Sunak, with Truss's "diagnosis" of the "illness facing the country."

According to the criteria of The Trust Project

Know more

  • IMF

  • United Kingdom

  • Liz Truss

  • Rishi Sunak

  • Europe