Sunak inherits economic turmoil as Truss's brief tenure ends in crises, but her ideas still find support

Truss's short tenure as UK PM ended in political and economic turmoil after her mini-budget triggered crises. Her ideas still have support in Conservative circles.
Reality overturned the most radical parts of Truss's mini-budget, but global inflation, Brexit woes, and her chancellor pick shaped the landscape Sunak inherited.
Unlike Truss's retelling, it was the pace of interest rate hikes that sparked the meltdown, not their level. Truss admitted she didn't know about LDIs.
At the anniversary, wages are no higher than 2007. Sunak warns tax cuts are "virtually impossible" due to debt costs and his inflation target.
Still, Sunak and Hunt face demands for growth policies from businesses and households struggling with high costs and a weakening economy.

theguardian.com

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9/4/2023

Three big calls that Liz Truss got right

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The specter of Liz Truss still haunts Britain

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Truss to Give Speech Defending Tax Cut Policies and Urging Economic Reforms

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9/18/2023

Truss Blames 'Establishment' for Her Downfall as UK's Shortest-Serving PM

Former UK Prime Minister Liz Truss defends her economic legacy, blaming the media, the Labour Party, and economic orthodoxy for her downfall during her 49 days in office.

Topics

Posted 9/24/2023, 4:00:00 AM

Sunak inherits economic turmoil as Truss's brief tenure ends in crises, but her ideas still find support

Truss's short tenure as UK PM ended in political and economic turmoil after her mini-budget triggered crises. Her ideas still have support in Conservative circles.
Reality overturned the most radical parts of Truss's mini-budget, but global inflation, Brexit woes, and her chancellor pick shaped the landscape Sunak inherited.
Unlike Truss's retelling, it was the pace of interest rate hikes that sparked the meltdown, not their level. Truss admitted she didn't know about LDIs.
At the anniversary, wages are no higher than 2007. Sunak warns tax cuts are "virtually impossible" due to debt costs and his inflation target.
Still, Sunak and Hunt face demands for growth policies from businesses and households struggling with high costs and a weakening economy.

theguardian.com

Relevant topic timeline:

9/4/2023

Three big calls that Liz Truss got right

9/5/2023

The specter of Liz Truss still haunts Britain

9/18/2023

Truss to Give Speech Defending Tax Cut Policies and Urging Economic Reforms

9/18/2023

Truss Blames 'Establishment' for Her Downfall as UK's Shortest-Serving PM

Former UK Prime Minister Liz Truss defends her economic legacy, blaming the media, the Labour Party, and economic orthodoxy for her downfall during her 49 days in office.