Former British Prime Minister Liz Truss says her failure wasn't her fault. Truss blamed a “powerful economic establishment” and internal Conservative Party opposition for the rapid collapse of her government.
The prospect of more debt and higher inflation sent the pound plunging to its lowest-ever level against the U.S. dollar. The cost of government borrowing soared and
Truss said she still believed her low-tax, small-state agenda “was the right thing to do, but the forces against it were too great.” She claimed “large parts of the media and the wider public sphere” had a left-wing slant, and criticized U.S. President Joe Biden for calling her plan a mistake. Cambridge University economist Charles Read said he warned the Treasury in early September that a sudden economic stimulus package “risked financial instability and a financial crisis.Truss’ article could put more pressure on Prime Minister
says Britain will be the only major economy to contract this year — and the party lagging well behind Labour in opinion polls, some Conservative lawmakers are getting restless.
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