Watching Liz Truss’s brief, uncharming press conference after she had sacked her friend and soulmate Kwasai Kwarteng, it was hard to work out whether the prime minister really understood what was happening around her.
The nearest she came to a shred of apology was when she said that “parts of our mini budget went further and faster than markets were expecting” as if the markets had been slow to get with it, and were to blame for intellectual failure.
Bringing in Jeremy Hunt as a kind of bullet-taking bodyguard from the opposite wing of the party to be her new Chancellor, might be a shrewd move which buys her time. She also gave due warning that spending cuts are coming after all, even if because of inflation: "Spending will grow less rapidly than previously planned.” That piles up further trouble for her in the House of Commons, where many of the planned cuts - if we can use the word “planned” about this government at the moment - may be impossible to get through.
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