Liz Truss has refused to apologise for the surge in mortgage rates in recent years, caused as part of the banking crisis, fuelled largely by her disastrous mini-budget in October 2022.
Britain’s shortest-serving prime minister says she was ‘completely blindsided’ by the adverse impact the fiscal announcement would have on the mortgage market and wider UK economy.
In an interview with Sky News On Sunday yesterday, Truss who ousted from power by her own MPs after less than six weeks, said that “mortgage rates have gone up across the world”, and that she was therefore not responsible for what has happened here in the UK.
She said: “The issues that I faced in office were issues of not being able to deliver the agenda I’d set out because of a deep resistance within the British economic establishment.
“I think it’s wrong to suggest that I’m responsible for British people paying higher mortgages.
“That is something that has happened in every country in the free world.”
Defending her economic record, she again criticised the Bank of England Governor Andrew Bailey.
She said: “I faced real resistance and actions by the Bank of England that undermined my policy and created the problems in the markets.”
Earlier in the week, Truss called for Bailey to be removed from his position and demanded a “proper investigation” into the central bank’s response to her 2022 mini-budget.
Despite her criticism of the Bank chief, Truss confirmed yesterday she never met Bailey.
“In retrospect, yes, I probably should have spoken directly to the governor of the Bank of England at the time,” she added.
The same as Bojo did, Truss is now dismantling any last remnants of confidence people had in the Tory party.
Truss should voluntarily null her premiership and lose any benefits she now receives after her disastrous 44 days as PM.
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She made mistakes, but you just have to look at who benefited from ousting her from power. The banks are doing very well currently.
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“I was blindsided” by the impact it would have on mortgages etc. “Well, yes, I probably should have met” with the Govenor of the BoE, the one who oversees and should have been able to predict what would happen…
I have no idea who to vote for, I disagree with Labour and their plans for house building on green-belt, and the last time I voted Labour we ended up with Blair etc, and see how well THAT turned out… But I’m not too happy with the Tories either. I cannot vote Green Party in my area as the local councillor voted to take farmland out of greenbelt and build houses on it. Lib Dem seem to have faded into the ether…
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Why must swathes of houses cover more and more of the country?
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There is plenty of brownfield sites around that should be used first. We have three sections of ex-green-belt or at least green-land that are now having a minimum of 100 houses built on, yet one derelict building was torn down and is now an eye-sore of a temporary car park, and one massive empty shop that has been torn down to create a ‘green area’ in the dead end of the town centre. And the old leisure centre that was demolished before Covid apparently to have houses built, that is still a fenced off area of rubble and weeds.
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Truss had the right ideas, and even if she had taken the time to introduce them, she lacked the backing of her own Party, and the financial markets brought her crashing down. What she did do was expose the way our pension funds have been playing fast and loose with our money, no doubt with the knowledge of the BoE and FCA [name the common denominator there!].
I have voted Tory for 51 years, but not this time because they have squandered the mandate given to them by so many first-time Tory voters. I will never vote Labour or Libdem. I will vote Reform. We need change!
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That another wasted vote then 😉
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Love hearing from all those who say a vote for anyone other than Tories or Labour is a wasted vote. You should vote with your conscience and not your herd!
Perhaps you can convince me to vote for another 5 years of Tory lack of government, or Labour, the landlord’s friend.
I know Reform can’t form a government. But with enough support, they could do what the Libs did in 2010, and who expected that?
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At least wait until the election has been called before becoming a raging bigot.
I find that zealots are best avoided before late afternoon, at which point their bulbous eyes start to look a little less manic.
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It does amuse me when people start calling others “bigots” simply because they have a differing opinion.
The irony is hilarious.
Let’s keep things civil, everyone has and indeed is entitled to, their own views (right or wrong). To insult them because of it shows an incredible lack of character.
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I’m a big boy, and can fend for myself, but I think you need to understand what a ‘bigot’ and a ‘zealot’ is before you go hurling personal insults.
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