“Gilt rates are higher because you torched the UK’s credibility, Liz."
Former Prime Minister Liz Truss’ latest attempt to defend her disastrous mini-budget, which resulted in market turmoil and the country’s mortgage bills rising, has backfired.
Truss, who was Britain’s shortest serving Prime Minister after being in office for just 49 days, was booted out of office after her unfunded tax cuts and disastrous policies resulted in economic chaos.
In recent days, both the Prime Minister and economic experts have warned that Nigel Farage’s unfunded tax cuts and spending commitments would result in the same kind of economic chaos unleashed by Truss.
Farage has failed to set out how he would pay for promised tax cuts and a rise in benefits.
The Prime Minister is expected to say today: “Farage is making the exact same bet Liz Truss did – that you can spend tens of billions on tax cuts without a proper way of paying for it.”
Reacting to a post on X by Keir Starmer accusing Farage of making the same mistakes as her, Truss wrote: “Repeating lies is not going to fix the economy @Keir_Starmer.
“Gilt rates are now higher than when I was in office.
“Britain is headed for a real economic crisis – not the confected crisis that the establishment used to sabotage my policies.”
Larry the Cat’s X account replied: “This has been explained to you many times Elizabeth. The evidence shows that your disastrous “growth plan” tanked the pound and caused borrowing to soar uniquely amongst world economies. Let me know if I need to break the crayons out for you to comprehend this.”
Another social media user replied: “Gilt rates are higher because you torched the UK’s credibility, Liz.
“You nuked the economy in six weeks, triggered a £65bn Bank of England bailout, and now you’re back pretending it was all a conspiracy?”
Basit Mahmood is editor of Left Foot Forward
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