
Liz Truss’s first big test
Liz Truss and Kwasi Kwarteng are determined to show that Britain’s economy is under new management. They want to indicate through their decisions – such as cancelling the corporation tax rise and reversing the National Insurance rise – that they are breaking away from the fiscal approach of recent years. More broadly, they want to emphasise that growth is their priority. In contrast to Boris Johnson’s attempts at people-pleasing, Truss is happy to declare she is prepared to be unpopular if that is what it takes to get the economy moving. She is dismissive of arguments about the distributional impact of tax cuts. At the same time, Kwarteng is scrapping
