The Tories fear mini-Budget could harm the party’s reputation for fiscal competence for years to come, writes Katy Balls
“It’s politically very poorly judged and if it doesn’t work potentially catastrophic,” says a former cabinet minister. “I hope I’m wrong.”
Given the above, it’s probably for the best that Truss has said she is prepared to be unpopular if that’s what it takes to grow the economy. But it’s this that is the $72bn dollar question: will her gamble actually pay off? Were they able to yield results within the next two years, it would allow Truss to go to the country with a pro-growth message – arguing that the Conservative way is the best as it means prosperity. She could argue that the Government took bold action and defied the naysayers and old treasury orthodoxy.
While Boris Johnson and Sunak clashed during their time in No 10 and No 11, even when under pressure that is unlikely between Truss and Kwarteng. The reason Truss appointed Kwarteng as her Chancellor is that they are ideologically aligned. They were two of the co-authors of the neo-Thatcheritein their early days as MPs. Kwarteng views his role as enabling Truss – and views Sunak as a chancellor who was too obstructive to his boss.
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