Liz truss

Sunday shows round-up: Is Truss a ‘libertarian jihadist’?

Jeremy Hunt – ‘The Prime Minister is in charge’ To say things do not look rosy for Liz Truss would be quite the understatement. With the government now on its second Chancellor in as many months, and its once flagship policies being hastily swept under the carpet, the Conservative party appears to be in damage limitation mode. Laura Kuenssberg spoke to the new Chancellor this morning, in a pre-recorded interview, asking him if Truss was now such a damaged figure that he was the one really calling the shots: ‘There is a very difficult job to be done right now’ Hunt told Kuenssberg that he would be looking at all

James Forsyth

Hunt on Truss: ‘She’s willing to change’

Liz Truss’s gaoler has just done another BBC interview. Jeremy Hunt continued to try and give himself maximum room for manoeuvre, saying ‘I’m not taking anything off the table’. He repeated his message: We are going to have to take some very difficult decisions both on spending and on tax. Spending is not going to increase by as much as people hoped, and indeed we’re going to have to ask all government departments to find more efficiencies than they’d planned. And taxes are not going to go down as quickly as people thought, and some taxes are going to go up. It will be fascinating to see if Truss is

Steerpike

Does Joe Biden know what ‘super-wealthy’ Americans pay in tax?

Joe Biden, ice cream in hand as so often, yesterday pronounced on Liz Truss’s tax reform disaster.  ‘I wasn’t the only one that thought it was a mistake,’ said Joe Biden, sounding every bit the wise old man of global politics. ‘I think that the idea of cutting taxes on the super-wealthy at a time when… I disagree with the policy, but that’s up to Great Britain.’ That concession at the end is the President realising he’s just breached the normal rules of diplomacy – by giving his opinion on an ally’s domestic difficulties. But he just can’t help himself. Biden has probably forgotten, but he has proposed increasing the

Patrick O'Flynn

Who voted for Jeremy Hunt to run Britain?

Jeremy Hunt has no mandate to lead Britain. He couldn’t muster sufficient Tory MPs behind him to properly enter the last leadership contest. He was beaten overwhelmingly in the one before that.  He was a key part of the failed Theresa May administration that lost a parliamentary majority at a general election. He played no role in the Boris Johnson administration that won it back with plenty to spare (a victory from which the Conservative mandate to govern still flows). Yet in a round of interviews this weekend, the new Chancellor of the Exchequer simply ripped up the economic agenda of Liz Truss. He mocked and then buried the PM’s

Ben Wallace: If defence spending pledge goes, so do I

In politics, where there’s death, there’s life. And as Liz Truss’s premiership crumbles before our eyes, all attention in SW1 is which lucky legislator gets to replace her. Second time Sunak? The people’s Penny? Back again Boris? Or perhaps the man who many wanted to run this summer but ended up dropping out: Ben Wallace, the popular Defence Secretary.  The former Scots Guards officer has been a long-standing fixture at the top of the ConservativeHome Cabinet rankings but opted to back Liz Truss in July rather than run himself. Instead, he extracted a pledge from the Trussette to raise defence spending to 3 per cent of GDP by 2030 – a

Five ways the Liz Truss saga could end

How does this end? That’s the question being asked by Tory MPs as Liz Truss’s government finds itself in turmoil once again. The Prime Minister’s decision to axe her chancellor and U-turn on a plan to ditch the corporation tax has only added to nerves in the Conservative party as to how sustainable the current situation is in. It’s clear that different wings of the party are incredibly unhappy with the current leadership. Yet Truss is technically safe from challenge for another year. What’s more, it’s not clear who exactly the party could agree on. Earlier this month, I wrote for the magazine on the scenarios being war-gamed by ministers,

Isabel Hardman

‘She’s just so bad at everything’: Tory MPs turn on Truss

Liz Truss’s Downing Street press conference has made everything worse, as far as Tory MPs are concerned. As soon as it was over, a number of backbenchers who had supported Truss for leader were locked into a call with Thérèse Coffey, the PM’s closest friend in Parliament and the Deputy Prime Minister. Those on the call said it was ‘like a wake,’ with even Coffey sounding ‘broken.’ ‘You could see the loss in her eyes,’ said one. Coffey reiterated the points the Prime Minister had made in No. 10, before taking questions. The ‘wake’ line is one you hear a lot at the moment. A number of MPs who went

Katy Balls

Why Truss picked Hunt for Chancellor

A day is a long time in politics. Just this morning, a No. 10 source told the BBC the Prime Minister believed Kwasi Kwarteng was doing ‘an excellent job’ as chancellor and the pair were ‘in lockstep.’ Only just a few hours on, Liz Truss has sacked her close ally and friend in a bid to salvage her premiership. Now, Truss has appointed Jeremy Hunt to replace Kwarteng. It’s not even 2 p.m. The view in Downing Street is that Hunt is ultimately a low-tax Tory As soon as rumours started to circulate that Hunt was the preferred pick, there were raised eyebrows among Tory MPs. Nadhim Zahawi and Sajid

Removing PMs hardly ever ends well

As Tory MPs appear to descend into a panic of buyers’ remorse over the election of Liz Truss, they would be well advised to take a deep breath and reflect upon the absurdity of removing a leader after six weeks. As they do so, they might find it instructive to look across the sea to Australia to see the folly of constant leadership turmoil and the ever more lethal poison it injects into the bloodstream of political parties.    Over the past decade and a half, Canberra – whose politics are famously robust – earned the unenviable taunt of having become the ‘coup capital of the South Pacific,’ as both sides

Liz Truss’s epic blandness

Liz Truss faced her first proper grilling at PMQs. Her debut, last month, was a softball affair but today Keir Starmer went in with both fists swinging. He asked her to endorse Jacob Rees-Mogg’s view that ‘turmoil in the markets has nothing to do with the Budget’. ‘What we have done,’ said Liz, pleasantly, ‘we have taken decisive action to make sure that people are not facing energy bills of £6,000 for two years.’ Sir Keir, already hopping mad, blasted her for ignoring his specific point. ‘Avoiding the question, ducking responsibility, lost in denial,’ he said viciously. He mentioned a young couple from Wolverhampton, Zac and Rebecca, who last week

Kate Andrews

Truss says no to spending cuts. Here’s the caveat

The mini-Budget was a spending spree. The ‘medium-term fiscal plan’ was meant to explain the funding. But what exactly is going to be in it?  Liz Truss and Kwasi Kwarteng were thought to have (finally) come to terms with the need to address the need for some restraint, after their mini-Budget led to market chaos which is yet to settle. Their fiscal statement – in other words, how they would fund their tax cuts – was moved forward by almost a month, to 31 October. Its contents were thought to include some major spending cuts, in a bid to convince markets that fiscal discipline still guides the Tory party. If there are

Conor Burns sacked from government

In the past few minutes, Conor Burns has been told to leave the government after a complaint of ‘serious misconduct’ was made against him. Downing Street has released a statement saying:  Following a complaint of serious misconduct, the Prime Minister has asked Conor Burns MP to leave the government with immediate effect. The Prime Minister took direct action on being informed of this allegation and is clear that all ministers should maintain the high standards of behaviour – as the public rightly expects. No. 10’s press release is keen to stress that the Prime Minister took immediate action Burns was moved sideways by Liz Truss in the recent reshuffle, from

Crash course: how the Truss revolution came off the road

Liz Truss and Kwasi Kwarteng wanted to shake things up. They were radicals in a hurry, keen to show that Britain was under new economic management. Theirs would be an unapologetic pro-growth agenda: no more genuflection in front of failed orthodoxies, no more being paralysed by fear or criticism. As a sign of this, they abolished the 45p tax rate for the highest earners: a move that many Tories longed to make, but did not dare. It seemed Truss and Kwarteng would leap in where other Conservatives feared to tread. This lasted just ten days. As the tax plan was reversed and No. 10 licked its wounds, there was much

Will the free-market cause ever recover from Liz Truss?

In theory, I should be delighted about the Liz Truss project. She is saying the things I’ve been arguing for years: talking not just about lower taxes but about basic liberty and how it relates to everyday life. She’s passionate about these ideas – and sincere. I remember watching her deliver a rallying cry, a salute to the ‘Airbnb-ing, Deliveroo-eating, Uber-riding freedom fighters’. This was just over three years ago when she was a Treasury minister. Her speeches were getting punchier and her one-liners becoming newsworthy and memorable. She was turning into one of the most recognisable faces of classical liberalism in Britain – a development which clearly delighted her.

Katy Balls

Could it be Rishi by Christmas?

What was supposed to be a recovery moment for the Conservatives instead looks like a collective nervous breakdown. The Prime Minister has been forced to U-turn on her flagship tax plan. Her cabinet is in open rebellion. Tory party conference resembled a civil war. The latest polling suggests the party is heading for electoral extinction. And that’s after just four weeks of Liz Truss’s premiership. ‘I know we have had a series of crises but this one really feels like the worst yet,’ says one seasoned government aide. Some Truss supporters are showing signs of buyer’s remorse. ‘I didn’t know it would be this bad,’ says one MP who backed

Give Liz Truss a chance

Conservative governments have a habit of self-destructing: they die not in battle with political enemies but as a result of vicious infighting. It’s been less than three years since Boris Johnson’s triumphant 80-seat election victory, which seemed at the time to come close to condemning Labour to oblivion. Yet this week in Birmingham it was the Conservatives who have looked doomed, posing a far greater threat to each other than to Keir Starmer. In her conference speech, Liz Truss laid out a confident and coherent agenda. She is correct about the need to harness the power of free enterprise to kickstart growth, but she failed to prepare the ground for

What did Kwarteng say to the free market think tanks?

When Liz Truss and Kwasi Kwarteng entered Downing Street, laser focus was not only applied to them, but also to the free market think tanks they had worked with over the years. This evening, Kwarteng paid a visit to two of them, as the Institute of Economic Affairs and The Taxpayers’ Alliance hosted the Chancellor at Conservative party conference for one-on-one conversations. Similar to his speech yesterday, Kwarteng used the opportunity to try to take some heat out of his mini-Budget. When asked if market reaction was part of the Treasury orthodoxy he and Truss had been taking aim against for weeks, he shook his head and pointed to the

Why Kwarteng’s next fiscal event will have to be brought forward

In a tetchy performance on The Andrew Neil Show, Tory party chair Jake Berry repeatedly insisted that everyone would have to wait until the Chancellor’s unveiling of his fiscal plan on 23 November to find out whether or not there would be spending cuts and when the government believes it will hit its 2.5 per cent growth target. Berry’s performance, which involved repeatedly trying to answer a different question to the one he was asked, made it even harder to believe that this line can hold. If every minister interviewed for the next six weeks sounded like Berry did just now, then it would be a disaster for the government. The sensible

Nick Cohen

The silence that reveals everything about Liz Truss

The moorings that tie the rulers to the ruled are breaking in the UK. You can hear them snapping during the Prime Minister’s silences. On Sunday morning, the BBC’s Laura Kuenssberg asked Liz Truss a question any democratic leader should be able to answer. Truss and her Chancellor’s folly had sent yields on ten-year guilts up to 4.3 per cent. It had forced the Bank of England to announce an emergency £65 billion bond-buying programme. It had threatened pensions and the finances of mortgage holders. ‘How many people voted for your plan?’ asked Kuenssberg. Silence. A silence long enough for viewers to believe that concerns of democratic legitimacy had not

Steerpike

Now Nadine goes for Truss

It’s day one at Tory conference and already tensions are running high. Conservative MPs are coming out to attack Liz Truss’s 45p tax cut, angry activists are muttering about mutiny and the markets are braced for more turmoil tomorrow. So who better than Nadine Dorries to calm the situation? Now relieved of her Cabinet post, the former Culture Secretary has time on her hands and she’s certainly putting that to good use. Alongside an anguished Sunday Times interview today – in which Dorries bemoans the loss of Boris as ‘one of the world’s great leaders’ – the pugilistic parliamentarian has now taken to Twitter to turn her guns on Johnson’s