Liz Truss, a former UK Prime Minister known for her tumultuous 49-day tenure and advocacy for free market libertarianism, discusses her new book, ‘Ten Years to Save the West.’ She delves into the lessons learned from her time in office and the intense scrutiny surrounding her economic policies. Truss examines the challenges within the Conservative Party, the impact of COVID-19 on leadership, and the disconnect between political elites and public sentiment. She also shares insights on Trump's foreign policy and advocates for accountability in governance.
Liz Truss critiques the economic orthodoxy upheld by institutions like the Treasury, asserting it stifles innovative policy and growth.
Truss identifies the challenges posed by the 'deep state,' arguing for a need to empower elected officials over unelected bureaucracy.
Reflecting on her leadership, Truss emphasizes the necessity of balancing bold policy changes with favorable political reception to ensure support.
Deep dives
The Legacy of Liz Truss's Premiership
Liz Truss reflects on her time as Prime Minister, recognizing the widespread criticism from her ideological peers regarding her economic policies. She argues that the problems leading to the turmoil during her premiership, particularly in fiscal policy, stemmed from failures at institutions like the Bank of England, rather than from her actions. Truss expresses concern that her critics, who she believes should align with her vision for small government and economic freedom, are actually maintaining the status quo that hinders genuine reform. She contends that the ongoing stagnation of the British economy is partly due to insufficient acknowledgment and action against these systemic issues.
Economic Orthodoxy and Its Consequences
Truss critiques the current economic orthodoxy in Britain, arguing that the constraints imposed by institutions like the Treasury and the Office for Budget Responsibility limit innovative economic policy. She posits that this orthodoxy creates a cycle of stagnation where necessary measures for economic growth are sidelined. Furthermore, she emphasizes the need for politicians to challenge the power of these institutions, stating that their influence is detrimental to democratic accountability. Truss believes that without a radical shift in approach, the Conservative Party may struggle to regain power or deliver real change to the electorate.
Challenging the Political Establishment
During the discussion, Truss advocates for a confrontation with the entrenched political establishment that she perceives as undermining elected officials. She identifies what she terms the ‘deep state’—an administrative state where unelected officials wield considerable power over policy decisions, thereby limiting elected leaders. Truss asserts that a transformative change in governance is essential for ensuring that the will of the electorate is executed. Her perspective reflects a belief in the necessity of empowering politicians to make impactful decisions without excessive bureaucratic interference.
Cultural Values and Immigration Policy
Truss has shifted her stance on immigration, now emphasizing the importance of cultural integration alongside economic contribution. She argues that immigration policies should consider cultural compatibility and adherence to British values, reflecting a more conservative approach than in her earlier views. Truss suggests that the traditional Judeo-Christian values core to British society need to be defended against what she sees as a growing separatism within immigrant communities. This change indicates her acknowledgment that unchecked immigration could undermine societal cohesion and national identity.
Reflections on Leadership and Future Directions
In reflecting on her approach to leadership during her brief premiership, Truss contemplates the rapid pace of policy changes and their repercussions. She maintains that her original tax-cutting agenda was essential for revitalizing the economy, yet recognizes the backlash and instability that followed. Truss identifies that political decisions must balance bold initiatives with a receptive political environment to avoid alienating key support. She argues for the need for robust political discourse focused on fundamental economic reforms rather than merely superficial debates about optics.
As arguably the most controversial Prime Minister in recent British history, Liz Truss has become the face of free market libertarianism and its discontents. She joins UnHerd’s Freddie Sayers to discuss her new book, ‘Ten Years to Save the West,’ and the lessons she learned from her turbulent time as a Conservative leader.
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