It's everyone else's fault apparently...
After her premiership ended in utter disaster, making her the shortest-serving Prime Minister in UK history, rather than engage in much needed self-reflection, Liz Truss will today say that her economic policies were right all along and the economic meltdown they caused was everyone else’s fault.
Despite her disastrous mini-budget resulting in financial turmoil and causing the pound to crash, Truss will today make a speech at the Institute of Government where she will blame the UK’s economic problems on ‘25 years of economic consensus’. This despite the fact that people’s mortgage rates soared as a result of the decisions taken in Truss’ mini-budget.
According to extracts from her speech briefed in advance, Truss will today say: “I believe that the reason for the problems we have is the 25 years of economic consensus that have led us to this period of stagnation.
“And I believe it is vital that we understand that and shatter that economic consensus, if we are to avoid worse problems in the future.”
Truss will add: “Some say this is a crisis of capitalism – that free markets are responsible. But that’s not borne out by the facts. Quite the opposite is true. The fact is that since the Labour government was elected in 1997, we have moved towards being a more corporatist social democracy in Britain than we were in the 1980s and 1990s.”
Truss blames everyone apart from herself for her disastrous economic policies which led to her being booted out office after just 49 days. She has accused the Bank of England and the Office for Budget Responsibility of being part of ‘an orthodoxy that was gradually moving to the left’.
She has already drawn some scathing criticism from the former governor of the Bank of England Mark Carney, who told an audience at the Global Progress Action Summit in Montreal on Saturday, that Truss had created ‘Argentina on the Channel’ not ‘Singapore on Thames’, as a result of her disastrous economic policies.
Basit Mahmood is editor of Left Foot Forward
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