UK's shortest-serving PM Liz Truss blames economic 'orthodoxy' for downfall | The Business Standard
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SATURDAY, JUNE 28, 2025
UK's shortest-serving PM Liz Truss blames economic 'orthodoxy' for downfall

World+Biz

Reuters
05 February, 2023, 05:20 pm
Last modified: 05 February, 2023, 05:22 pm

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UK's shortest-serving PM Liz Truss blames economic 'orthodoxy' for downfall

Reuters
05 February, 2023, 05:20 pm
Last modified: 05 February, 2023, 05:22 pm
Photo: REUTERS
Photo: REUTERS

Former British prime minister Liz Truss blamed on Sunday the economic "orthodoxy" in the country's finance ministry, other nations and in parts of the governing Conservative Party for derailing her premiership and "plan for growth".

Truss's tenure was cut short last year after her largely unfunded mini budget and tax cuts pushed up borrowing costs and mortgage rates, sent the pound tumbling and shattered Britain's reputation for financial stability.

Writing in the Sunday Telegraph newspaper in her first major foray into politics since the abrupt end to her premiership after just over six turbulent weeks in power, Truss wrote she believed her recipe for Britain by cutting taxes and removing some regulation was the right one.

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But she was not successful, she wrote, because she had underestimated "the blob of vested interests" and orthodoxy.

"I am not claiming to be blameless in what happened, but fundamentally I was not given a realistic chance to enact my policies by a very powerful economic establishment, coupled with a lack of political support," she wrote.

"I assumed upon entering Downing Street that my mandate would be respected and acce

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Liz Truss / Economy / Orthodox

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