According to former British Prime Minister Liz Truss, his death was entirely due to “economic orthodoxy” in the Treasury, other countries, and parts of the ruling Conservative Party. He said it in the Sunday Telegraph.

Truss’ term lasted just 45 days after he plunged the UK into deep trouble by presenting an ill-fated financial plan and proposing tax cuts. This not only led to an unprecedented rise in prices, but also a fall in the British pound and damaged the bank’s reputation for financial stability.

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It was the first time since the abrupt end of his six-week term that Truss had spoken out on politics. In the same article he wrote that he believed that cutting taxes and abolishing certain rules would be the way forward for Great Britain.

Not successful

But, he also wrote, he was not successful. And that’s mostly because he would disdain the “self-interest” and “orthodoxy” of his work environment. “I’m not saying I’m not partly responsible for what happened, but basically I was never given a realistic opportunity to implement my policies properly,” said Truss, who feels opposed by the political establishment. “When I moved to Downing Street, I assumed that my Monday would be respected and accepted, but I was wrong. While I always expected some kind of reaction to my policies, I never imagined it would become this serious.

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The root cause in that story has been not only the ‘left-leaning orthodoxy’ of economic institutions, but also the so-called liability-driven investments (LDIs) that pension funds use to back their bonds. According to Truss, the LDI is the center of all problems. For that reason he is also stymied by the Conservative party, which, according to Truss, does not want an economy with lower taxes and less government interference.’

Grow

“During the campaign, I made it clear on several occasions that I wanted England to develop,” he told the newspaper. “But this is clearly not in line with the views of the Department of Finance or the orthodox economic ecosystem we are in.”