Liz Truss has just advised chancellor Rachel Reeves to follow her mini-Budget from 2022 to get the UK out of its current economic mess.
Government borrowing costs have soared since Labour got into power in July, while inflation crept up to 2.6% in the 12 months to November and the value of the pound has dropped.
The economy stagnated over the second half of 2024 too, suggesting the UK is rather a long way off Labour’s number one mission of higher growth.
Naturally, the government’s critics have rallied together to slam Reeves’ efforts to boost the country’s finances – including none other than Truss, who only lasted 49 days in office after crashing the economy.
Responding to reports that Reeves is feeling “very depressed” about the UK’s economic outlook, the former PM wrote on X that “the way out” was to “cut taxes, cut regulation, get fracking, limit the benefits bill”.
She then posted the front cover of “The Growth Plan 2022” – better known as the mini-Budget, which was so disastrous Truss was kicked out of office.
Her plan for £45bn of unfunded tax cuts sent the market into turmoil and the pound plummeting, so much so the Bank of England had to step in with the UK hours away from total financial meltdown.
She even became the centre of social media mockery after a viral stunt asked which would last longer: Truss in office or a lettuce head with a short shelf life (the lettuce won).
But, Truss – who also lost her seat in the general election – has actually been blaming the Bank of England for the crisis ever since.
Last week, she even issued a cease and desist letter to Keir Starmer demanding the PM stop saying she “crashed the economy”, and calling it “false and defamatory”.
This caused “Liz Truss crashed the economy” to start trending on social media.
Labour has repeatedly attributed their “tough” financial decisions – complete with £40bn of tax rises – to the black hole the Tories (especially Truss) left in the public finances.
And the prime minister’s spokesperson suggested Starmer would not stop pointing the finger at Truss, telling reporters the PM “absolutely stands by” what he has said about his predecessor.
So Truss’ attempt to promote her mini-Budget once again has, of course, sparked quite the reaction online....