Liz Truss blames 'left-wing economic establishment' for No10 exit, despite plunging UK economy into chaos

4 February 2023, 23:25 | Updated: 5 February 2023, 15:43

Liz Truss has claimed she was never given a “realistic chance” to enact her radical tax-slashing agenda by a "very powerful economic establishment", combined with as a lack of political support.
Liz Truss has claimed she was never given a “realistic chance” to enact her radical tax-slashing agenda by a "very powerful economic establishment", combined with as a lack of political support. Picture: Alamy

By Chris Samuel

Liz Truss has claimed she was never given a “realistic chance” to enact her radical tax-slashing agenda by a "very powerful economic establishment", combined with a lack of support from her party.

Writing in the Telegraph in her first detailed comments after being forced out of Downing Street in October, the ex-PM said she hadn't appreciated the strength of the resistance her plans would face.

Though she acknowledged that she was not “blameless” over the catastrophic effects of the mini-budget on the UK economy, she said she still believed her commitment to growth was the right one.

She said: “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.

Read more: US shoots down Chinese 'spy balloon' off Carolina coast

Read more: Woman left fighting for her life after being hit by car while pushing pram

“I assumed upon entering Downing Street that my mandate would be respected and accepted. How wrong I was.

"While I anticipated resistance to my programme from the system, I underestimated the extent of it.

Liz Truss makes her final statement in Downing Street in front of national and international media, October 25, 2022.
Liz Truss makes her final statement in Downing Street in front of national and international media, October 25, 2022. Picture: Alamy

“Similarly, I underestimated the resistance inside the Conservative parliamentary party to move to a lower-tax, less-regulated economy.”

Within her first week in the role, Ms Truss announced her energy support package to deal with the cost of living crisis.

Liz Truss said she wrongly assumed her mandate would be respected.
Liz Truss said she wrongly assumed her mandate would be respected. Picture: Alamy

But her pledges for quick action were quickly put on hold when Queen Elizabeth died, marking the beginning of 10 days of national mourning.

The end of September was the pivotal moment for Ms Truss' premiership when previous Chancellor Kwasi Kwarteng announced billions of pounds worth of tax cuts in a mini-budget.

Rishi Sunak replaced Liz Truss as PM having previously lost to her in the final two.
Rishi Sunak replaced Liz Truss as PM having previously lost to her in the final two. Picture: Alamy

The move led to the pound plummeting and the markets faced financial turmoil as the government then fought to fix the chaos.

Tory infighting piled pressure on the leader for her last few weeks at No10, with her being forced to u-turn on several of her policies as well as replacing her Chancellor with Jeremy Hunt and Home Secretary Suella Braverman also stepping down.

More Latest News

See more More Latest News

Kanye West, left, and Bianca Censori arrive at the 67th annual Grammy Awards on Sunday, Feb. 2, 2025, in Los Angeles. (Photo by Jordan Strauss/Invision/AP)

Bianca Censori shares true feelings towards Kanye West's nude Grammys stunt

Landlords face £6k bill to meet higher energy efficiency standards on rental homes by 2030 under government plans

Landlords face £6k bill to meet higher energy efficiency standards on rental homes by 2030 under government plans

Pope Francis meets Prince Charles, Prince of Wales and his wife Camilla Duchess of Cornwall at the Vatican on April 4, 2017.

King Charles and Queen Camilla to meet Pope Francis during state visit to Italy

A British couple was reportedly found dead by a neighbour in Les Pesquiès, south of Villefranche-de-Rouergue.

British couple found dead inside 'isolated' French villa in 'feared burglary gone wrong'

Exclusive
Commuter backlash after Network Rail 'erases trains from departure boards' early to 'ease rush'

Commuter backlash after Network Rail 'erases trains from departure boards early' to 'ease passenger rush'

b

Knife arches in schools are welcome - but who is going to pay for them?

James Evans, 19, left, and Justin Keeling (formerly Evans), 18, right, have admitted to starting a massive fire that sparked a mass evacuation.

Two teens admit starting huge fire that 'ripped residents out of homes' during summer riots

Inga Gehricke, five, went missing following a family barbecue in Germany back in 2015.

Police launch fresh search efforts for missing girl linked to prime Madeleine McCann suspect

v

School named after Prince Andrew set to rebrand to something less 'controversial'

The Princess Royal during a visit to Southmead Hospital in Bristol to thank the team of doctors, nurses and health professionals who treated her following her accident in June 2024.

Princess Anne returns to the intensive care unit where she had treatment for head injuries

A utility firm has admitted its equipment started one of the LA fires last month.

California utility says its equipment likely sparked fire that raged through LA

Yusuf Kayat, 54, from Dewsbury, West Yorkshire, has been jailed for 20 years

Paedophile who plied girl, 10, with alcohol, cigarettes, and cannabis before grooming her for sex with other men jailed

Salim Iskef, 29, was one of ten people killed by lone gunman Rickard Andersson, 35, at Orebro's Risbergska adult education centre on Tuesday.

Heartbreaking final words of Sweden mass shooting victim shared with mum and fiancé revealed

Exclusive
Prime Minister Sir Keir Starmer speaks to the media during a visit to Springfields (Preston Lab), National Nuclear Laboratory.

UK must make it harder to buy knives online to prevent repeat of Southport killings, PM tells LBC

UK resident comes forward to claim £83m EuroMillions jackpot

UK winner comes forward to claim £83.5million EuroMillions jackpot 13 days after draw

Cold Snap Brings Freezing Temperatures To Parts Of UK

Cold health alerts issued as temperatures set to plummet over weekend as the Beast from the East returns