"At a stroke, it severely damaged that mantle of economic fiscal competence that our party has always [had].”
A senior Conservative Party shadow cabinet member has admitted that former Tory leader Liz Truss left a ‘deep and painful scar’ on the Conservative Party’s reputation following her disastrous mini-budget.
Truss was booted out of office after just 49 days, making her the country’s shortest-serving Prime Minister, after her disastrous mini-budget which included unfunded tax cuts, sending the markets into financial turmoil and the pound collapsing.
In comments to journalists, Mel Stride, the Shadow Chancellor, admitted that the mini-budget had been a disaster.
The HuffPost reported Stride as saying: “I think it’s fair to say the-called mini-Budget – on which I had a lot to say at the time – as I was chair of the Treasury select and I was very vocal about what was going on during and after that event – it is a very deep and painful scar on the Conservative Party.”
He said: “At a stroke, it severely damaged that mantle of economic fiscal competence that our party has always [had].”
Basit Mahmood is editor of Left Foot Forward
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