Liz Truss and Kwasi Kwarteng have trashed their own authority – and may never win it back 🔵 paulwaugh for ipaperviews
He tried to claim today that he’d always known that the top 45p rate only cost £2bn and was just a small part of his “Growth Plan” . Yet this was a man who had left the supertax rate abolition until the end of his Commons statement, flourishing it as the big “rabbit” of the entire event.
One other defence Kwarteng attempted was that “we were acting at very, very high speed”. Yet while the energy package was indeed urgent, there was no real reason why the tax-cutting mini-Budget had to take place before the Commons rose for its conference recess. Well, she and Kwarteng have indeed moved fast and broken things, but it’s their own authority as well as the reputation of the Tory party that now lies in pieces. As one Tory MP told me: “She is now more Tinfoil Woman than Iron Lady. The rust has set in very early.”
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