Professor Danny Blanchflower, once on the Bank of England's monetary policy committee, says Liz Truss's defence of her economic policy is 'nonsense'. Read more here:
"And then you look towards tax cuts."He added:"I completely agree with Liz's instinct to have a lower tax economy but what we know is if you do that before you've dealt with inflation and debt you can end up in difficulty.Grant Shapps was home secretary under Liz Truss for her final six days
Ms Truss said she has a mandate from Conservative members, after they voted for her over Rishi Sunak, implying the current PM does not as his leadership never went to a vote of the membership.said she had not appreciated the strength of the resistance she would face to her plans.'We're back to where we should be'
But he backed current PM Rishi Sunak in a backhanded swipe at his predecessor, saying the prime minister is tackling high inflation to ease pressure on the economy before growth can happen.Three PMs in three months: A timeline"He's removed that premium that we saw because the markets didn't like what was going on back then and entirely removed the additional premium that was being applied to, essentially, our mortgage rates.
Simon Clarke, Tory MP and chief secretary to the Treasury until Ms Truss became PM, said her article poses"important questions" about the extent to which it is possible to deliver tax cuts and/or spending reductions with current economic modelling. "I think a lot of the points she made about how we seem to be heading in the wrong direction on economic policy are still perfectly valid," he told Sky News.
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