When Liz Truss was running to lead Britain this summer, an ally predicted her first weeks in office would be turbulent. But few were prepared for the scale of the sound and fury --- least of all Truss herself.
British Prime Minister Liz Truss leaves Downing Street to attend her first Prime Minister's Questions at the Houses of Parliament, in London, Wednesday, Sept. 7, 2022. Truss has only been in office for six weeks. But already her libertarian economic policies have triggered a financial crisis, emergency central bank intervention, multiple U-turns and the firing of her Treasury chief.
"The government has looked like libertarian jihadists and treated the whole country as kind of laboratory mice on which to carry out ultra, ultra free-market experiments," he told Sky News. Truss' first days in office were overshadowed by a period of national mourning for the queen. Then on Sept. 23, Treasury chief Kwasi Kwarteng announced the economic plan he and Truss had drawn up. It included 45 billion pounds in tax cuts --- including an income tax reduction for the highest earners – without an accompanying assessment of how the government would pay for them.
"They shouldn't have made their contempt for economic institutions quite so clear," she said. "I think they could have listened to advice. And I think one of the things that they got very wrong was to announce one part of the package, the tax cuts without the spending side of the equation."
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