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The Guardian - UK
The Guardian - UK
Business
Richard Partington

A year on from Liz Truss’s mini-budget, the UK economy is still stuck in first gear

The then British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng pictured in hard hats and hi-viz jackets
The then British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng pictured on 4 October 2022. Photograph: Reuters

Reversing managed decline was Liz Truss’s message. Almost exactly a year ago, the shortest-serving prime minister in British history told the story of a nation chained by mediocrity, going nowhere fast and wallowing in a low-growth mire.

This week marks the anniversary of her catastrophically failed attempt to change course in a mini-budget that crashed the pound, punished mortgage holders and destroyed her party’s reputation for economic competence in one fell swoop.

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