A Greater Manchester MP has hit back after Liz Truss claimed she was not given a 'realistic chance' as Prime Minister. The Conservative spent a turbulent 44 days in office last autumn, with her premiership derailing after Kwasi Kwarteng's so-called 'mini-budget'.
The then-chancellor's plan involved £70 billion of increased borrowing to fund major tax cuts, which largely benefitted high earners, as well as support for energy bills. It led to markets being 'spooked', with the pound hitting a new low, and after weeks of turmoil Ms Truss eventually resigned.
Ms Truss has now claimed she was brought down by the combination of a 'powerful economic establishment' and a lack of support from within the Tory party. But speaking to Sky News this morning (February 5), Labour MP Jonathan Reynolds insisted her plans had been 'incoherent'.
The shadow business secretary, who represents Stalybridge and Hyde, told Sophy Ridge On Sunday: “Will there ever be a Conservative willing to take responsibility for their own actions? Liz Truss had to stand down because her policies were incoherent and unsustainable and the idea she’s been brought down by a left-wing economic establishment - she’s been brought down by straightforward economics.”
Writing in today's Sunday Telegraph, Ms Truss accepted she had a part in her own downfall, but insisted other factors were at play. 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.
“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. Similarly, I underestimated the resistance inside the Conservative parliamentary party to move to a lower-tax, less-regulated economy.”
Her comments have also been challenged by some in her own party. Business secretary Grant Shapps suggested Ms Truss was wrong to push ahead with tax cuts before bringing inflation under control.
He told Sky News: "You have got to deal with the fundamentals first. You have got to reduce inflation which is the biggest tax cut anybody can have.
“I notice she said they hadn’t prepared the ground for these big tax changes. What you have got to do is deal with the big structural issues first, deal with inflation first, deal with debt, and then you look towards tax cuts.
“I completely agree with Liz’s instinct to have a lower tax economy. We also know that if you do that before you’ve dealt with inflation and dealt with the debt then you end up in difficulty. You can’t get the growth out of nowhere."
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