Post by northwestman on Nov 11, 2022 11:18:09 GMT 1
Tries to pin all the debacle on Truss.
www.theguardian.com/uk-news/2022/nov/10/kwarteng-told-truss-to-slow-down-radical-measures-after-mini-budget
Kwasi Kwarteng has revealed he told Liz Truss to “slow down” and warned her she would “have two months” if she continued at the same rate with her radical mini-budget measures.
Kwarteng, who was sacked as chancellor last month by the then-prime minister after less than six weeks in the job, also criticised the “mad” decision to dismiss him for implementing her tax-cutting agenda.
The government’s £45bn tax cuts triggered economic turmoil, with government borrowing costs soaring, the pound plummeting to a 37-year low and the Bank of England intervening to rescue £65bn worth of pension funds.
Truss subsequently resigned after 45 days in office, making her the shortest-serving prime minister in UK history.
“I think she genuinely thought that that (sacking me) was the right thing to buy her more time to set her premiership on the right path.
“I disagreed, obviously. I thought that if chancellors are sacked by the prime minister for doing what the prime minister campaigned on, that leaves the prime minister in a very weak position.”
Describing his thinking at that moment, he said: “This is mad. Prime ministers don’t get rid of chancellors. I think I said to her at the time: ‘This is going to last three or four weeks.’ Little did I know it was only going to be six days.”
Kwarteng added: “She can’t fire me for just implementing what she campaigned on. And, you know, we had a conversation.
“And I think it was very much the view that somehow she would survive if I took the fall on that.”
www.theguardian.com/uk-news/2022/nov/10/kwarteng-told-truss-to-slow-down-radical-measures-after-mini-budget
Kwasi Kwarteng has revealed he told Liz Truss to “slow down” and warned her she would “have two months” if she continued at the same rate with her radical mini-budget measures.
Kwarteng, who was sacked as chancellor last month by the then-prime minister after less than six weeks in the job, also criticised the “mad” decision to dismiss him for implementing her tax-cutting agenda.
The government’s £45bn tax cuts triggered economic turmoil, with government borrowing costs soaring, the pound plummeting to a 37-year low and the Bank of England intervening to rescue £65bn worth of pension funds.
Truss subsequently resigned after 45 days in office, making her the shortest-serving prime minister in UK history.
“I think she genuinely thought that that (sacking me) was the right thing to buy her more time to set her premiership on the right path.
“I disagreed, obviously. I thought that if chancellors are sacked by the prime minister for doing what the prime minister campaigned on, that leaves the prime minister in a very weak position.”
Describing his thinking at that moment, he said: “This is mad. Prime ministers don’t get rid of chancellors. I think I said to her at the time: ‘This is going to last three or four weeks.’ Little did I know it was only going to be six days.”
Kwarteng added: “She can’t fire me for just implementing what she campaigned on. And, you know, we had a conversation.
“And I think it was very much the view that somehow she would survive if I took the fall on that.”