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Liz Truss has defended her record as prime minister and called for “institutional change” in Britain in the same way she claims Donald Trump delivered “revolution in the US”.
The former Conservative leader has spoken to Sky’s Wilfred Frost on his The Master Investor Podcast nearly three years after she resigned as prime minister – 44 days after taking over from Boris Johnson.
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Her downfall began when she and her then chancellor Kwasi Kwarteng unleashed £45bn of unfunded tax cuts on the markets in a mini-budget which sparked weeks of economic turmoil in 2022.
However, Ms Truss has now told Frost the fault for what happened during her premiership lay with the Bank of England (BoE) as she “wasn’t captain of the ship”.
She said: “The last time I looked, it’s the prime minister who is the democratically accountable person that runs the country, not the Bank of England… The Bank of England’s role is to work with the government to ensure financial stability, and they weren’t doing that. They were pursuing their own agenda.”
Ms Truss, the UK’s shortest-serving prime minister in history, added: “The fact is I wasn’t captain of the ship because I wasn’t running monetary policy. The Bank of England were running monetary policy. I’m very happy to take responsibility for things, provided I have the full ability to actually control them. I didn’t have the ability to control them.”
The former prime minister also accused the BoE and Office for Budget Responsibility (OBR) of briefing against her after the mini-budget.
She added: “My mistake, if you want to put it like that was underestimating the sheer malevolence of the economic blob in Britain.”
‘We’ve lost our way’
Ms Truss also said there is “economic stagnation” and poor public services in the UK and this is at least party due to the “failures” of the…
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