IT is “entirely plausible” that Liz Truss’s Tory government intended to create a financial crisis in order to prepare public services such as the NHS for privatisation, an economics expert has said.
After Chancellor Kwasi Kwarteng announced swingeing tax cuts for the wealthy, funded by £45 billion of government borrowing, the value of the pound plummeted to record lows.
Unprecedented interventions from the International Monetary Fund, the Bank of England, and global credit ratings agency Moody’s followed, with mounting calls from opposition politicians for parliament to be recalled to tackle the self-inflicted crisis.
