Budget 2024: Disaster PM Liz Truss gives her views regardless of crashing the financial system
Disaster PM Liz Truss who inflicted turmoil on the economy has shared her analysis ahead of Labour’s first Budget in almost 15 years.
Despite inflicting turmoil on the economy with her own mini-Budget with billions of pounds of unfunded tax cuts in 2022, Ms Truss warned of “pain” to come.
Taking to the airwaves just hours ahead of the Budget, the 49-day PM admitted “the economic situation was already bad” with taxes at a 70-year high. But she said Labour “seem hell-bent” on making the current economic situation worse – just hours before Rachel Reeves delivers the Budget.
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With the Chancellor expected to hike taxes on business today, she told Times Radio: “I fear this is just the start of the pain – it’s going to be a very painful day.”
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TalkTV)
“Because taxes are going so high it will stop businesses investing in this country. What we will find is next year Labour want to come back for more.”
The country’s shortest-serving PM said she sought to reverse the situation in 2022 when she and her Chancellor Kwasi Kwarteng launched the infamous mini-Budget. It triggered a financial crisis and Ms Truss was forced to abandon key policies including a tax cut for the wealthiest Brits – before being ousted from No10 herself.
A Labour source responded: “Liz Truss and the Conservatives crashed the economy, sent people’s mortgages soaring and left this government to clean up their mess.”
The Labour MP Neil Coyle added: “My constituents remember Truss’ chaotic mini-Budget & are still paying higher mortgages/bills as a result. A good reminder from an unlikely source of why stability & a new focus under Labour is so important.”
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