[Politics] I told Liz Truss she was going too fast, says Kwasi Kwarteng

[BirSaNN]

 

 

Former chancellor Kwasi Kwarteng has said he warned Liz Truss she was going too fast with her ill-fated economic plans.

In his first interview since he was sacked by the then PM, Mr Kwarteng told TalkTV he had warned her to "slow down" after September's mini-budget.

He said he told her it was "mad" to fire him, and she would only last "three or four weeks" if she did.

"Little did I know it was only going to be six days," he added.

 

Mr Kwarteng was dramatically fired by Ms Truss in October, two weeks after their tax-cutting mini-budget sparked turmoil on financial markets.

She then ditched almost all of the plan in a bid to stay in power, but announced her resignation a few days later - just over six weeks after taking office - as support from Conservative MPs ebbed away.

How much market chaos did the mini-budget cause?
Labour's shadow chancellor Rachel Reeves said it was "really disgraceful that Kwasi Kwarteng has the cheek to do this interview".

"He crashed the economy with his mini budget just a few weeks ago, which has caused untold damage to people," she added.

 

Speaking to TalkTV, Mr Kwarteng said that he had warned Ms Truss about going at a "breakneck speed" with economic measures after the mini-budget.

"She said, 'Well, I've only got two years' and I said, 'You will have two months if you carry on like this'. And that is, I'm afraid, what happened."

He also said: "I think the prime minister was very much of the view that we needed to move things fast. But I think it was too quick."

Mr Kwarteng, a longtime political ally and friend of Ms Truss, revealed the then-PM was "distressed and emotional" when she called him in to be fired, after summoning him back from a trip to the US.

He also revealed he found out he was going to be sacked when he saw a journalist tweeting about it while he was in the car going to Downing Street.

He said he had told her: "This is mad. Prime ministers don't get rid of chancellors."

 

link: https://www.bbc.com/news/uk-politics-63592909

Edited November 12, 2022 by BirSaNN