Liz Truss accuses ‘the economic establishment’ of limiting her time as UK leader – POLITICO

LONDON — Liz Truss has broken cover to lash out at the “powerful economic establishment” which she says led to the abrupt end of her short term as prime minister last year.

Writing in the Sunday Telegraph, the ex-British prime minister said she was sticking to the political prescription she had fought on for the Tory leadership, but claimed ‘the forces against her were too great “to carry it out.

Truss resigned as Britain’s prime minister after a turbulent 45 days in office during which her so-called ‘mini budget’ sent markets crashing and she lost two key ministers.

She and her then-Chancellor Kwasi Kwarteng announced the biggest UK tax cuts since 1972, funded by a vast expansion of borrowing and without attempting to explain how they might be paid for.

“I don’t claim to be blameless in what happened, but basically a very powerful economic establishment didn’t give me a realistic chance to implement my policies, coupled with a lack of political support,” he said. she writes.

“Pessimism and skepticism” about the growth potential of the UK economy was endemic to the Treasury, she claimed. She also said that the deregulation of financial services and other industries “was seen as undermining the prospects for an agreement with the EU” on the Northern Ireland Protocol and that Brexit was “seen as an exercise in damage limitation rather than a once-in-a-generation opportunity.


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