Odd Lots Liz Truss on the 'Doom Loop' Engulfing the UK Economy
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Aug 28, 2025 
Liz Truss, the former Prime Minister of the UK and author of '10 Years to Save the West', shares her insights on the UK's precarious fiscal situation. She reflects on her short-lived time in office and discusses the challenges of tax and spending. Truss critiques current economic strategies and advocates for reforms, especially regarding the Bank of England's independence. She also touches on the implications of Brexit, the state of free speech, and how political dynamics shape economic policies in Britain.
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UK Headed Toward A Fiscal Doom Loop
- Liz Truss warns the UK is in a "doom loop" of higher taxes, lower growth, and rising debt heading toward a crisis.
- She argued the country risks needing an IMF bailout unless policy and institutions change.
Institutions Can Override Democratic Mandates
- Truss describes powerful unelected institutions as hostile constraints on elected policy, notably the Bank of England and OBR.
- She says those institutions can create market waves that block political agendas.
Prioritize Tax Stability And Supply Reforms
- Truss defends reversing a planned corporation tax rise and combining tax stance with supply-side reforms like fracking.
- She advised keeping taxes lower to sustain investment while constraining spending politically where possible.
