Liz Truss Has Commented On The State Of The Economy And People Are Baffled

She was ousted as PM after her mini-Budget caused chaos on the money markets.
Liz Truss lasted just 44 days as prime minister.
Liz Truss lasted just 44 days as prime minister.
via Associated Press

Liz Truss has left people baffled with her latest comments on the state of the British economy.

The UK’s shortest-serving prime minister attacked Rachel Reeves after the latest grim set of figures for the government.

The Office for National Statistics (ONS) confirmed that the economy had flatlined between July and September - Labour’s first three months in office - having previously said it had grown by 0.1%.

It comes after the ONS revealed last week that gross domestic product (GDP) shrank by 0.1% in October.

Commenting on X, Truss said: “Economic doom loop continues thanks to Rachel Reeves’ unfunded tax rises.

“Until Britain rediscovers the Laffer curve and cuts tax, regulation and the state - we are in dire trouble.”

The Laffer curve is an economic theory which states that there is an optimum level of tax, and that the amount of money raised for the public purse goes down once that tax rate increases.

Truss was forced to quit after just 44 days as PM after the £45 billion of unfunded tax cuts announced in her mini-Budget sparked economic chaos.

Users of X were left confused by Truss’s post, with one user accusing her of being “economically illiterate”.

Others were equally baffled by the former PM’s remarks.

It was also pointed out that the ONS figures referred to the UK’s GDP between July and September, but Rachel Reeves did not announce her tax rises until the Budget in October.

Therefore, Truss was wrong to blame the Chancellor’s actions for the disappointing data.

Close

What's Hot