Liz Truss has re-emerged on social media today to passionately defend her mini-Budget, exactly two years since it was first unveiled.
Despite being the very reason she was kicked out of office – making her the shortest serving PM in British history – Truss boldly suggested that if her £45bn of unfunded tax cuts had not been scrapped, the UK would be in a better place today.
In a post on X, her caption read: “Two years on. The British economy would be in much better shape if the mini-Budget had been implemented.”
In the attached three and a half minute video, filmed in a study, Truss went on to pin any damage caused by the one pivotal decision in office on the “economic establishment”.
Truss said her mini-Budget was meant to “reverse Britain’s economic decline and get our economy growing again”.
But, she claimed if it had not been “undermined” by the economic establishment, there would be “lower energy bills”, more fracking and corporations would want to work with the UK because of low tax rates.
“We would see a more dynamic, go-getting economy,” she said.
She then claimed: “Things will only get worse under Labour. We’re seeing the economic doom loop accelerating.”
She said the new government are “taking the economic pain out on pensioners at a time when energy prices are very high thanks to their failed policies”.
Actually, Truss’s mini-Budget left pension funds in danger, and saw mortgages sky-rocket.
Truss concluded the video by saying the only way to “escape” the so-called “doom loop” was to supposedly “take on” the economic establishment.
The ex-PM seems to be overlooking how the Bank of England had to bail out the UK’s pension funds in the days immediately after Truss’s mini-Budget, as her policies sent the markets into a dangerous wobble.
Meanwhile, at the Labour conference, chancellor Rachel Reeves using the mini-Budget as a hook for her speech to broadcasters today.
“It is two years since Liz Truss’s mini-Budget that damaged the economy and sent mortgage rates spiralling, pensions in peril, and it undermined our reputation on the world stage,” she told BBC Breakfast.