Liz Truss has broken her silence following her disastrous stint as Prime Minister, blaming the “economic establishment” and her own Conservative Party for her downfall.
Ms Truss’s brief premiership lasted just 49 days as she was forced to quit after Kwasi Kwarteng’s £45 billion package of unfunded tax cuts panicked the markets and tanked the pound. The UK’s stock and bond markets lost an estimated $500 billion in value in the weeks after she took over from Boris Johnson last September, and the Bank of England was forced to take emergency measures to stabilise the economy.
In a 4,000-word essay she now says that while she was not “blameless” over the way her chancellor Mr Kwarteng’s infamous mini-budget catastrophically unravelled, still believes her approach to driving growth was the right one.
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