Liz Truss blames economy spiralling after her mini-budget on ‘reaction’

Liz Truss has blamed the economy spiralling after her disastrous mini-budget last September on the "reaction" to her policies.

"There was a reaction from the political and economic establishment, which fed into the markets, markets that were already destabilised," the former prime minister, who was in office for 49 days, told the Institute for Government think tank on Monday (18 September).

Ms Truss was forced out of office in October 2022 following a budget of £45 billion of tax cuts outlined by her chancellor Kwasi Kwarteng that triggered an economic crisis, as the pound fell to a fresh 37-year low against the US dollar.