The Rest Is Politics 64. Hunt U-turn as Truss goes missing
Oct 18, 2022
The Conservative Party's internal strife takes center stage as Rory and Alastair analyze leadership dynamics and Liz Truss's troubling absence. They tackle the challenges of tax cuts and investment zones amidst rising economic pressures. A light-hearted moment featuring Biden and ice cream brings humor to the discussion on global and domestic intersections. The podcast also sheds light on Japan's unique political landscape and the severe economic implications of the global recession on Africa, particularly Malawi's crisis.
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Truss's Absence from Urgent Question
- Liz Truss didn't attend an Urgent Question about the economy, sending Penny Mordaunt instead.
- Mordaunt's performance was weak, constantly citing a "good reason" for Truss's absence, only for Truss and Hunt to appear later.
Hunt's Reversal of Truss's Policies
- Jeremy Hunt reversed most of Truss's economic policies, signaling a shift in government direction.
- Hunt confirmed income tax cuts and corporation tax rises are cancelled and the energy price guarantee is limited to six months.
Limited Options for Labour
- The UK's economic situation requires spending cuts, limiting Labour's options beyond austerity.
- High taxes and interest rates necessitate dramatic tax increases or spending cuts for any government.