A jittery No 10 now seeks the market’s approval for everything. The result? Cruel cuts and a chronic fear of desperately needed public spending
On 6 September 2022, Liz Truss entered No 10 with a clear vision for the country; the country asked her to leave less than 50 days later. But nearly three years on, even though all that remains of her premiership at Downing Street is a portrait she didn’t stick around long enough to see hung, it is she who really runs Britain.
Not through her influence – which has since been reduced to poorly attended speeches at far-right conferences in the US – but through the fear she left behind. Truss may be gone, but what remains is the shadow her failure cast, and the rigid fiscal caution that grew out of it.
Max Mosley is a senior economist at the New Economics Foundation
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