Guys, you really need to go to the country now. You're making Jeremy Corbyn's Labour Party look like a model of competence:
Liz Truss started her premiership with a mad dash for growth. She continues to insist that boosting Britain’s growth rate is her mission. But whatever remains of her time in office is now focused on a different goal: restoring the faith of the bond markets in Britain.
Ms Truss’s reversal is a humiliation. She had spent the Conservative Party leadership campaign promising to abandon the planned rise in corporation tax. She brushed aside warnings from Rishi Sunak, her rival, that her plans for unfunded tax cuts represented a dangerous “fairy tale” which would stoke inflation. In the end the fiscal statement on September 23rd included cuts worth £45bn ($50bn), an even more lavish giveaway than the one she had dangled during the contest.
Much of her party is determined to get rid of her. Her project of deficit-funded tax cuts and a smaller state always had shallow support in a party that combines a new-found taste for state intervention with an old liking of sound money. Even those Tories who backed her project now have little reason to keep her in place, save for the embarrassment of installing its third leader in a year. The question preoccupying MPs is not “if” but “when”: should they move against her now or wait until after the fiscal plan on October 31st?
In a public letter thanking Mr Kwarteng for his 39 days as chancellor, Ms Truss declared that he had “set in train” structural reforms to planning law, as part of her mission of lifting Britain’s parlous productivity. In truth, those reforms exist only on paper and face a difficult battle through Parliament. “We share the same vision for our country and the same firm conviction to go for growth,” she wrote. Convictions are all she has left.
Labour Party leader Sir Keir Starmer didn't hold back:
In an interview with the Guardian, the Labour leader said Truss had driven the economy “into a wall” while “trashing our institutions”, and changing the prime minister again without allowing the country to vote would not be acceptable.
However, Starmer said he had told his shadow cabinet not to be complacent about the party’s 30 points-plus poll lead, and that Labour was “not going to sit back” but fight for every vote.
He said people were “looking to Labour for the answers to the next election” and the party needed to carry on putting in the work to win the contest, rather than assuming the government’s incompetence would cause the Tories to lose.
Asked if a general election was necessary immediately, or if Truss is replaced, Starmer said: “Yes … We are in the absurd situation where we are on the third, fourth prime minister in six years and within weeks we have a got a prime minister who has the worst reputational ratings of any prime minister pretty well in history. Their party is completely exhausted and clapped out. It has got no ideas, it can’t face the future and it has left the UK in a defensive crouch where we are not facing the challenges of the future because we haven’t got a government that could lead us to the future. For the good of the country we need a general election.”
Of course, the Tories have no requirement to call an election until 2025, so I expect we're about to see which bozo comes out of their Mini Cooper to move into Number 10 before Christmas. Maybe Jeremy Hunt?