Liz Truss ‘clearly’ wrong, says Tory minister after she lashes out at ‘left-wing establishment’

Grant Shapps rejects former Tory PM’s arguments, as Labour attacks Truss’s lack of ‘humility’

Liz Truss “clearly” took the wrong approach to the economy, business secretary Grant Shapps has said after she blamed the “economic establishment” and her own party for her downfall.

In a 4,000-word essay, the former Tory prime minister insisted her radical plan to cut tax and borrow more was the right one – taking a swipe at successor Rishi Sunak over tax rises.

Ms Truss’s disastrous premiership lasted just 49 days, when she was forced to quit after her chancellor Kwasi Kwarteng’s £45bn package of unfunded tax cuts panicked the markets and tanked the pound.