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Brexiteer leaps to Truss’s defence, blasting Sunak’s ‘Tory socialists’

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Former PM Liz Truss makes her case for growth

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Brexiteer Ben Habib has backed former Prime Minister Liz Truss’s controversial economic policy during her time in Number 10 – as well as pointing the finger at what he called Rishi Sunak’s “Tory socialists”. Former Brexit Party MEP Mr Habib spoke out after Ms Truss offered her first substantial observations on her 49-day tenure – claiming she was toppled by the “left-wing economic establishment”.

In an essay published in yesterday’s Telegraph she said: “I assumed upon entering Downing Street that my mandate would be respected and accepted. How wrong I was.”

She went on to argue her radical approach was not in line with “the instinctive views of the Treasury or the wider orthodox economic ecosystem”- and property developer Mr Habib agreed.

He told “In its aim to nanny us, the state has grown ever bigger and needs ever increasing amounts of cash to fund its activities.

“National debt and taxes are at record highs. It has borrowed, taxed and spent its way to economic failure.”

Simultaneously there were record numbers of people on benefits as well as record numbers not even seeking work, Mr Habib pointed out.

He continued: “Wages have for a long time been stagnating while taxes crept up. It does not pay to work. And after all that government spending, there is not a single public service which works.

“The nanny state is bloated. It is hooked on a diet of borrow, tax and spend.

“So, when Liz Truss came along with the genuinely conservative policy of entitling businesses and people to keep more of their hard-earned cash, the gluttonous state reacted to cut her off at the knees.

“Tory socialists, Michael Gove leading the charge, immediately moved to bring her down. The Treasury openly undermined her thesis. And even the Bank of England briefed and acted against her.”

The day before former Chancellor Kwasi Kwarteng’s now-infamous mini-budget, the BoE had forecast a recession, Mr Habib said.

He added: “It had been selling government bonds already putting pressure on their value. As values fell, pension funds, which had overleveraged themselves buying this rubbish were forced to dump it in order to remain solvent.

“The markets smelt a collapse and capitalised on the opportunity. Sterling was shorted. Having set-off these collapses, the Bank of England and all those who feast on state largesse laid the blame at Truss’s door.”

Within days Ms Truss had been ousted and replaced with Mr Sunak, “someone it could trust not to unsettle the status quo”, Mr Habib argued.

He continued: “Sunak (supported fully by the Bank of England) is the man responsible for increasing national debt by a whopping £500 billion, or 33 percent in just two years.

“He has borrowed more money than any Chancellor in history but the establishment saw fit to give him the keys to the country.

“The new Prime Minister is not short of self-confidence. He believes he knows best how to spend our money. To him, those of us who think otherwise are idiots.

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“Liz Truss offered the nation an opportunity to reverse our managed decline. Instead, failed orthodoxy prevailed.”

Ms Truss’s essay concluded: “There’s no question that the experience of last autumn was bruising for me personally, but it taught me a lot and I will expand upon the lessons I have learnt in the coming weeks and months.

‘I have lost track of how many people have written to me or approached me since leaving Downing Street to say that they believe my diagnosis of the problems causing our country’s economic lethargy was correct and that they shared my enthusiasm for the solutions I was proposing.

“While I regret that I wasn’t able to implement my full programme, I am still optimistic for the future, with the United Kingdom now able to steer its own course as a free nation.

“By being bold and entrepreneurial and giving people and businesses the freedom they need to succeed, I believe we can turn things around.”

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