Liz Truss defends 2022 mini-Budget in new book

Former British Prime Minister Liz Truss has released a new book, ‘Bank Job’, in which she defends the radical economic measures introduced during her 49-day premiership in 2022. Truss argues that the tax cuts proposed by then-Chancellor Kwasi Kwarteng would have resulted in healthier public finances than the current economic state under Prime Minister Andy Burnham.

Truss attributes the market turmoil that led to her resignation—characterized by plummeting pound values and spiking bond yields—to the financial ‘establishment’ and the Bank of England. She claims the UK is currently losing its competitive edge in technology and capital, noting a rapid departure of billionaires from the country.

This defense comes as Chancellor John Healey prepares a ‘steady as she goes’ Budget. Treasury sources indicate the upcoming Budget will focus on modest energy bill assistance and targeted business support, likely funded by increased taxes on banks and a reduction in fiscal headroom.