Truss remains defiant over economic plan despite demise

Kwasi Kwarteng reveals he warned Liz Truss to 'slow down'

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A defiant Liz Truss has insisted that economic plans were not the reason behind her downfall, as allies of the former Prime Minister blame those close to Rishi Sunak and “establishment institutions” for conspiring against her. This comes as the former Prime Minister, who lasted just 49 days in office, has doubled down on her so-called Trussonomics plans, according to a new report.  Earlier this week, Ms Truss was spotted in Washington DC at a gathering of global conservatives to attend the International Democrat Union forum. 

Prominent global figures speaking at the conference included Donald Trump’s former Vice-President Mike Pence, former Australian PM Scott Morrison, and Texas Republican senator Ted Cruz.

A report in the Sunday Times claims that Ms Truss is keen on continuing to push her economic plan abroad, despite its swift demise in the UK.

A friend of the former PM told the paper that the economic plan itself was the right one but that unelected forces were responsible for wrecking it. 

The friend said: “She does harbour some resentment that the OBR [the Office for Budget Responsibility] has too much power over elected politicians.

“She thinks there’s an accountability deficit.”

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Ms Truss famously cut the OBR out of her controversial mini-budget planning, sparking a backlash across the Commons and the financial markets.

The mini-budget, which proposed a raft of tax cuts, led to the pound crashing against the dollar, pension funds nearly collapsing, a £65billion Bank of England bailout, soaring mortgage costs, and the cost of Government borrowing increasing.

The growing anger at the “unaccountable” forces holding sway over British politics is reinforced by a new grassroots Conservative moment to “take back control” of the party.

A billionaire Conservative donor Lord Cruddas is backing the new Conservative Democratic Organisation amid anger among party members over the ousting of Boris Johnson and Liz Truss, and the coronation of Rishi Sunak.

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According to the campaign, rank-and-file Tories feel they are held in “utter contempt by party leaders” and that “their views count for nothing”.

The CDO will fight for a raft of reforms to “restore democracy” in the party and steer it “back to the centre-right”.

It claims that the coronation of Mr Sunak has “finally ended members faith in any party democracy”.


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Lord Cruddas warned: “Internal democracy in the Conservative Party is dying on its feet.

“The leadership pays scant attention to the views of the membership – regarding them as little more than mindless drones who only matter at election time.

“It is time to restore the democratic rights of Tory members, not least the right to choose parliamentary candidates without being hectored and bullied by party headquarters.”

Key demands include a directly elected party chairman and for local constituency associations to make the “ultimate decision” on who stands as a candidate for Westminster.

Meanwhile, in an interview with the Financial Times yesterday, Ms Truss’ Chancellor during her time in office, Kwasi Kwarteng, admitted that he “got carried away” when he wrote the mini-budget.

He said: “There was a brief moment and the people in charge, myself included, blew it.”

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