The Energy Price Guarantee and the Mini-Budget

Truss pitched herself as a disruptor, eager to challenge the old orthodoxies and institutional groupthink that have held the economy back. But this was widely interpreted as trashing the institutions themselves. Time that should have been spent fine-tuning her tax reforms were eaten up by the energy crisis. I still regard the energy price guarantee as something that went right - but at the time, it left little room for discussing anything else. All of this was worsened by Quatting's apparent doubling down on tax cuts despite the markets obvious and growing concerns about fiscal credibility.