Liz Truss was right and I can prove it – the dark forces that destroyed the former PM have smashed democracy in the UK and we should all be worried
REVEALED: The shocking economic establishment and MSM conspiracy against the woman who challenged the orthodoxy
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The fact the UK is now run by a globalist Prime Minister rejected overwhelmingly by the Conservative party membership and hated by the electorate, propped up by a CCP-loving/Brexit-hating Chancellor, tells you all you need to know about the faltering state of democracy today.
Rishi Sunak and Jeremy Hunt are only in charge because the snivel service blob and international organisations that run the show are happy for them to be.
While it has been roundly ignored by the complicit mainstream media, the defenestration of Liz Truss after just 44 days in charge because she wanted to challenge the economic orthodoxy is the biggest antidemocratic scandal of our times.
It effectively blocks any politician from introducing a true conservative economic agenda again.
But as she attempts to educate the world about what really happened with her brilliant new book Ten Years to Save the West, I have put together the authoritative account, speaking to those involved in the depressing drama, of how dark forces were able to depose the British Prime Minister…
TRUSSONOMICS WAS FUNDAMENTALLY RIGHT
The Truss economic agenda comprised a three-pronged approach of cutting taxes to leave more money in people’s pockets, spending restraint in areas like welfare and supply-side reforms such as allowing fracking in the UK.
If her plan had been allowed to be fully enacted, the Growth Plan (dubbed the mini budget by the MSM) would have delivered exactly that: Economic growth.
As it is, under Fishy Rishi and Chairman Hunt the economy has continued to stagnate and has technically entered recession.
Eighteen months after the plan’s introduction, the country would have been seeing better outcomes, with lower government spending and the record-high tax burden being reduced. Fracking would have got underway and people’s energy bills would have started going down and there would have been an increase in the number of homes available to buy.
Abolishing the “tourist tax” would have attracted more foreign visitors to spend their money in the UK rather than Paris or Milan.
Keeping corporation tax at 19 per cent would have made the UK a more attractive place to do business.
THE ECONOMIC ESTABLISHMENT COVERED THEIR OWN FAILINGS BY BLAMING AND THEN REMOVING TRUSS
The fallout following the mini budget by Chancellor Kwasi Kwarteng was caused by the economic establishment, which sought to use Truss as a scapegoat.
In fact, the Treasury knew nothing of the delicate tinderbox that was about to explode in the form of the Liability Driven Investments (LDI) crisis – a product used by pension funds and others to increase returns on capital at the time of low interest rates. They had given no forewarning of this imminent danger which was the equivalent of the subprime problem encountered in 2008.
Even worse, the Bank of England was oblivious to the problem, which raises serious questions about the competence of the Governor Andrew Bailey and brings to light the Bank’s regulatory failures.
Furthermore, the irrational decision by the Bank not to raise interest rates in line with market expectations, along with its decision to embark on a programme of quantitative tightening on the eve of the mini budget – thereby pushing up the cost of government borrowing – raises further serious questions about the Bank’s role, for which no one has been held accountable.
Bailey, who was appointed by Sajid Javid, is effectively unsackable once he has been installed for what is now an eight-year term, thus affording him far more power than the Prime Minister or Chancellor and with virtually no line of accountability.
The influence of the Whitehall machine over the appointment of the Governor and his board is very considerable and the wrong man has found himself in the job and blind to a problem as great as the sub-prime problem faced in 2008.
It is also worth noting that the various parts of the state economic establishment – the Treasury, Bank of England and Office of Budget Responsibility – were the sources of constant leaks and briefing to the media, which left ministers unable to know who they could trust in what should have always been confidential discussions.
Crucially, the OBR’s (Office of Budget Responsibility) leaking of its calculations purporting to show a £70 billion hole in the Budget were instrumental in forcing the hiking of corporation tax to 25 per cent – despite the figures later proving to be completely and demonstrably wrong.
However, at the end of the day, the economic orthodoxy objects to being challenged and will punish those who seek to do so, as was the case here with Truss and Kwarteng.
AMBUSH BY WRAGG AND GOVE
Disgracefully, the parliamentary Conservative party did not fall in line behind the emphatic mandate Truss received from the membership.
In reality, she knew she lacked the support required from Conservative MPs for her agenda, even though she had won in a landslide.
An alarming number of Sunak’s wet supporters in Parliament refused to accept the result and did not give her space to deliver on the mandate that members had given her.
A number of the parliamentary party were at war with their grassroots, on whom they look down upon, and began a constant stream of hostile briefing to the media, ambushing her at the 1922 Committee while seeking to undermine her through regular interviews on TV and radio.
Truss writes of the nightmare in her book: “I faced an ambush of backbench Tory MPs at a meeting of the 1922 Committee. The ostensible purpose of the meeting was for me to explain my strategy. Yet, my political opponents mounted a concerted effort to undermine me, asking a barrage of hostile questions and then briefing the whole thing to the media. Naively, I had not even brought a media adviser to the meeting. It was an ugly scene and left even my staunchest supporters rattled.”
What isn’t known is that at the meeting she is referring to 1922 Chairman Graham Brady was away so it was chaired in his absence by the now all-too-familiar sexter and overall wrong‘un William ‘Toe’ Wragg. He was the one that orchestrated a systemic undermining of Truss, ensuring Rishi acolytes like Robert Halfon and James Cartlidge were given ample time and space to go on the attack, seeking to destabilise Truss and generally laying the blame for the LDI crisis entirely on her.
THE SCOURGE OF THE CINOS (CONSERVATIVES IN NAME ONLY)
The worst offender was an embittered and destructive Michael Gove who ambushed Truss during her first party conference as PM by telling the BBC’s Laura Kuenssberg that her tax plans were “not Conservative” – a patently ridiculous claim that still managed to do massive damage.
Another ringleader was Rishi devotee Mel Stride, then chairman of the Treasury Select Committee, who kept going on about wanting the OBR to analyse the proposals, despite never asking for such scrutiny when Sunak spewed squillions on the furlough scheme, for example.
Conservative MPs are now effectively divided into three sections:
1: Globalists
2: Thatcherites
3: Passengers
Aided and abetted by an incompetent CCHQ, there are far too many Conservatives In Name Only (I’ve dubbed them the CINOs) who are only too happy to go along with the consensus view of the left-wing establishment, appeasing the eco-zealots and pushing the woke agenda.
These CINOs never get agitated about a record-high tax burden, out-of-control spending or the mutilation of young girls because of extreme trans ideology. Most despicably, they are seemingly unbothered by record levels of immigration.
For these CINOs, career advancement is more important than delivering sound conservative policies. Many of them are in thrall to Tony Blair and never objected to the stream of New Labour legislation such as the Equality Act, Human Rights Act and Climate Change Act, all of which have embedded left-wing concepts into our statute book and assisted the growth of multiculturalism (which on the present evidence has failed) and out-of-control immigration.
These CINOs are embracing the Blairite legal framework that has concentrated power in the hands of activist left-wing lawyers and created a self-perpetuating out-of-touch judiciary.
The Conservative MPs’ collective loss of their political compass makes it ever more urgent that the party pursue an agenda based on the restoring of sovereignty and democratic accountability…before it’s too late and they are wiped out.
THE MSM IS IN THE TANK WITH THE CINOS
Political opponents, coupled with CINOs and hostile media commentators, have lazily parroted lines about the effect of Truss’s policy as being effectively “crashing” or “tanking” the economy – yet when challenged this group are unable to come up with credible evidence to back up their notions.
For example, gilt prices – the cost of borrowing – have been higher under the current government than when Liz Truss was in office.
Opponents within the party are also trying to claim that the party is heading for an election defeat as a result of Truss’s time in office, which is clearly untrue.
In fact, during September 2022, the month she won the leadership election and took office, 34 opinion polls were conducted, with an average readout of Conservatives at 30 per cent, Labour at 44 per cent and the Liberal Democrats at ten per cent.
After an initial dip following her departure from office, as of April 2023 poll ratings were basically back at September 2022 levels, with 29 surveys providing an average readout of Conservatives at 29 per cent, Labour at 44 per cent and Liberal Democrats at ten per cent.
Under Sunak, the Tories look poised to be wiped out at next month’s local elections, with their poll ratings set to be eclipsed by a surging Reform UK, not yet bolstered by Nigel Farage (who has become tight with Truss in recent months).
Clearly an election defeat has nothing to do with Truss’s time in office.
The dive in ratings since April 2023 is a reflection of the current administration, with Sunak notably now enjoying personal ratings lower than those registered by Truss when she was in office.
THE FINAL STRAW
While many may suggest that Truss should have stuck to her guns and perhaps delivered an address directly to the public to explain what she was doing and why, this was not a realistic option.
Such a public plea, amidst a row with the Bank of England at a time of financial instability, would inevitably have led to a meltdown and left the government unable to fund its own debt, not unlike when the Labour government in 1976 had to go cap in hand to the IMF.
Above all, Truss is a patriot and she was not willing to burden the country with such a turn of events, basically caused by the failure of the Bank of England and financial regulators to realise and understand the effect of LDIs, which had gone unregulated during the low interest honeymoon.
MY DAMNING CONCLUSION
The market crisis in the Autumn of 2022 was caused by failings of the Bank of England, NOT the mini budget. Yet the Bank, backed up by the corrupt MSM, successfully laid the blame at the door of Truss and Kwarteng.
This was backed up by the wider economic establishment – the OBR and the Treasury, in particular – as well as establishment politicians, then faithfully reported by the MSM.
The Truss Growth Plan was the right and responsible solution to the UK’s economic problems, the only response to a stagnant economy which had been held back by high tax and regulation, and is utterly tanking under Fishy Rishi and Chairman Hunt.
The dynamism and growth that tax cuts would have generated would have increased the Treasury’s tax receipts. The smear of ‘unfunded tax cuts’ was used by the left to discredit supply-side economics. But had the full range of tax cuts and public spending restraint been implemented, they would have resulted in less money being spent, and in the longer term much more being received by government than is the case now.
The Growth Plan was developed with Treasury officials. There was no warning from the Treasury that it would cause problems in the markets. There was no warning about pension funds’ exposure to LDIs and their sensitivity to interest rates. There was no mention of LDIs at all. There was no requirement to have an OBR forecast: there hadn’t been OBR forecasts before furlough schemes were announced that ran to a cost of £70 billion.
Opposition to the plan was ideological as it was against the prevailing economic consensus. The Treasury, Bank of England and OBR and the wider consensus do not agree with the policies and used the market turmoil to crush the agenda.
I appreciate some of this feels highly technical, but it really matters.
There is now a complete crisis in democracy in the UK.
No leader will be elected – or able to stay in office – if they challenge the orthodoxy.
I genuinely believe that Liz Truss was the best Prime Minister we were never really allowed to have.
She was deposed in an anti-democratic coup and copped the blame for something that wasn’t her fault – and it’s time we get very angry about that.
Outspoken members will have a unique opportunity to ask questions directly of the incomparable royal insider during this special event to mark the launch of her updated book on Harry and Meghan. To be part of it, upgrade to a paid subscription here.
Nobody wanted Sunak and he knew it, which is why it didn't go to a members vote. All he wants is 'British PM' written on his CV to further his ambitions when he defects to the USA, he has zero interest in the UK. Liz Truss was stitched up in the same way that Boris was. Democracy is all but dead.
Liz Truss ruffled a few feathers that is for sure!
The entire system is broken. Nothing any politician does or says now is trustworthy (if they ever were) regardless whether they are left or right! Realistically Pishi Sunak is a bot put in power by organisation we will never understand or know about. He is no Conservative and holds zero conservative values.
“Stop the boats” Bawbag!
When the election does come we will have a labour government for certain, no one will vote Tory with those two buffoons in power Sunak/HUNT.
We will have to suffer the diabolical efforts of Labour for 4+ years simple because I do not think ReformUK will have a big enough vote right now. I personally think after those long painful years in power ReformUK will grow massively in scale.
No one is going to forget what Sunka has done to the Conservative Party in four years time.
No one will be able to stomach another four years of flip flop Starmer.
The two party system right now is not working for me.
I am angry with the lot of them…….I cannot mention anything SNP or I might commit a hate crime and end up in a jail cell with Isla 😡