Liz Truss’s great leap forward has ended in an almighty splat 🔵 annemcelvoy for ipaperviews
– cancelling the planned cut to the 45p rate of income tax after outcry inside the Tory party and outrage beyond it at the skewed priority of a cut for high earners at a time of financial struggle for many less affluent households – has pulled her back from the brink. But at a high price. The central support beam of a government’s architecture – the Prime Minister and the Chancellor – has cracked within weeks.
Given this extraordinary backfire, what might need to change to bring Project Recovery back on track – and exit from the doom loop of adverse market and public opinion reaction? In one sense, Truss is free of an albatross. Kwasi Kwarteng was enjoined to cull a measure which would have further weakened electability. The best Truss can say is that “we listened”. The trouble with that is that she and her Chancellor plainly did not consult the Cabinet or other senior voices in the party.
In some ways, he is right. Public services have for too long been funded by beggar-thy-neighbour raids on other department’s budgets . Growth simplytoo persistently low and productivity too sluggish to keep the UK competitive and fund the services on which people rely. Mistaking “purpose” with rigidity is the first improvement point. Truss effectively admitted this yesterday, telling the BBC’s Laura Kuenssberg: “I do accept we should have laid the ground better.”
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Liz Truss can turn this all around by bringing the Budget forward and reassuring her ministersLiz Truss can turn this all around by bringing the Budget forward and reassuring her ministers 🔵 annemcelvoy for ipaperviews
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