How people feel when facing an economic crisis often decides their choice in elections. That spells doom for Liz Truss
The public has lost faith with the Conservatives as a governing party that can deal with the cost of living crisis. That is why the Tories are in freefall in the opinion polls. Kwasi Kwarteng’s humiliating U-turn over plans to scrap the additional rate of income tax, which is 45% on pay over £150,000, will do little to restore confidence in Liz Truss’s team. The move will only sour the public mood and deepen doubts that the Tories can manage the economy – and steady wobbling household finances.
Mr Kwarteng’s speech to the Tory party conference had two audiences: the first was in the hall; the second was watching on television. In talking about “sound money” he conceded that his gung ho mini-budget was anything but sound. Blaming EU laws for holding the country back might receive a cheer from seated activists, but it will be met with yawns from the electorate. However, it was Mr Kwarteng’s blithe dismissal of the row generated by the 45% tax plan as “a little turbulence” that revealed how out of touch he is with the national mood. The jibe was nothing less than an affront to the millions of people already facing spiralling mortgage costs and rising rents.
Do you have an opinion on the issues raised in this article? If you would like to submit a letter of up to 300 words to be considered for publication, email it to us at [email protected]
