Truss skirted the topic twice when asked if she wanted to apologize to people facing higher mortgage rates at a speech and Q&A, before the anniversary of her government’s so-called mini-budget.
Liz Truss has rejected the idea that she ruined the UK economy when she was prime minister, and sought to blame “groupthink” from the Bank of England, the media, and the civil service.
On Saturday, in contrast, in her first televised interview since being ousted from office after a short-lived 49-day tenure, she expressed regrets during a live question-and-answer session on GB News.
Truss acknowledged her errors and revealed her lack of readiness for the challenges she encountered, as well as the criticism and backlash she faced due to her failing policies.
Truss skirted the topic twice when asked if she wanted to apologize to people facing higher mortgage rates at a speech and Q&A soon before the anniversary of her government’s so-called mini-budget, which frightened markets with its drive for seemingly unfunded £45 billion in tax cuts.
Her attempt to stimulate economic growth by introducing a package of tax cuts without sufficient funding had a detrimental effect on British financial markets. This, in turn, led to increased borrowing costs for millions of British citizens who were already struggling with soaring prices, as she laid the blame on what she called the prevailing “groupthink” within the “economic establishment” for her disastrous term.
‘Groupthink’
Instead, she suggested that the main faults were with economic institutions like the Bank of England, which had allowed artificially low-interest rates to persist for far too long, and a broader “sense of groupthink and consensus.”
Truss stated, following her well-publicized speech, that she planned to reinvigorate her economic ideas within the Conservative Party, announcing she would attend the Tory conference next month and “say more.”
Source: Almayadeen