Liz Truss, a former British prime minister, criticized Rishi Sunak‘s “detrimental” tax policies on Sunday as the latter was under attack from a different predecessor, Boris Johnson, for his Ukraine policy.
When Truss took office in September, he quickly started to enact a dramatic tax-cutting plan.
She was forced to resign after only 44 days, giving her the nation’s shortest-serving leader in history as a result of her policies, which alarmed the markets and threatened to collapse the pension sector.
She said that the “strong economic establishment” brought her down in her first intervention after being fired, and that her replacement Sunak erred by rejecting all of her tax-cutting proposals.
She attributed Sunak’s decision to raise company tax from 19 to 25 percent to the “strength of economic orthodoxy and its influence on the market” and claimed that it was “economically damaging.”
She wrote: “I am not claiming to be responsible in what transpired, but basically, a very powerful economic establishment, coupled with a lack of political backing, did not allow me a genuine chance to accomplish my programs.”
The IMF, which at the time criticized Truss’ massive tax cuts, dealt Sunak a blow this week when it forecast that the UK will be the only G7 nation to see negative growth in 2023, attributing this in part to the UK’s “tighter fiscal and monetary policies.”
In spite of stabilizing markets, Sunak is lagging in the polls with less than 100 days in office as the nation’s cost-of-living crisis worsens.
The pressure from various groups within Sunak’s own party has risen due to the resurgence of Truss and the more prominent role played by Boris Johnson in the effort to win further military support for Ukraine.
Johnson put Sunak under fire over the conflict during a last-minute trip to Washington this week, saying Fox News that he should send fighter jets and “give the Ukrainians what they need as rapidly as possible.” Complete this task. Don’t think about Putin.
Johnson also made a strong pro-Ukraine impression at the World Economic Forum gathering last month, which Sunak did not attend.
Sunak’s resignation as Johnson’s finance minister is still seen as the cause of Johnson’s demise by many of his followers.
As a result, Truss and Sunak engaged in a contentious leadership contest. The MPs who supported her in that campaign are reportedly reuniting, which might cause the prime minister extra problems.