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. In just six weeks, the prime minister’s libertarian economic policies have triggered a financial crisis, emergency central bank intervention, multiple U-turns and the firing of her Treasury chief.
It’s not as if the party wasn’t warned. During the summertime contest to lead the Conservatives, Truss called herself a disruptor who would challenge economic “orthodoxy.” She promised she would cut taxes and slash red tape, and would spur Britain's sluggish economy to grow. Truss was doing what she and allies said she would. Libertarian think-tank chief Mark Littlewood predicted during the summer there would be “fireworks” as the new prime minister pushed for economic reform at “absolutely breakneck speed.”“Many of us, wrongly, expected her to pivot after she won the leadership contest in the way many presidents do after winning the primaries,” said Tim Bale, professor of politics at Queen Mary University of London. “But she didn’t do that.
As the negative reaction grew, Truss began to abandon bits of the package in a bid to reassure her party and the markets. The tax cut for top earners was ditched in the middle of the Conservative Party’s annual conference in early October as the party rebelled.
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UK leader Liz Truss goes from triumph to trouble in 6 weeksLONDON (AP) — When Liz Truss was running to lead Britain this summer, an ally predicted her first weeks in office would be turbulent.
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U.K. leader Liz Truss goes from triumph to trouble in 6 weeksWhen 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.
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