PurgaTory – with guest David Gauke
Oh God, What Now?
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Is the Treasury Orthodoxy in Favour of Controlling Public Spending?
Liz Truss did your job after you left. What was your impression then? Was it that she was harbouring a deep resentment for treasury orthodoxy at that point? Or has all this rhetoric come as sort of a shock to you after? Yeah, it wasn't that obvious at that point. But remember what her job was, was controlling public spending. And the Treasury orthodoxy is in favour of controlling public Spending. In that sense, she was quite aligned with the Treasury. Her problem is that she thinks if you go down this sort of Reaganite supply side economics, cuts and taxes, there'll be huge behavioural impacts that are very beneficial. Now there the Treasury tends to be more skeptical
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