Prime Minister Liz Truss (Stefan Rousseau/PA)
(Picture: PA Wire)In light of what happened to interest rates and gilt yields over the past week, Liz Truss’ decision to walk out to ‘Moving On Up’ by the M People as she gave her first Conservative Party Conference speech as Prime Minister was a bold choice. Given the economic turmoil and the recent polling showing an unassailable lead for Labour, it was crucially important that Truss’ speech reassured the markets while also reaching out beyond the Tory faithful to the wider public.
The speech had much to commend it. Truss seemed much more enthusiastic and at ease than in her previous speeches and media and she handled the Greenpeace protest well. It was also encouraging to see the focus on economic growth. Truss is absolutely right to point to the importance of economic growth - it creates jobs, increases wages, and allows us all to live happier, healthier, and richer lives. She is also right to reject declinism and to challenge those who are anti-growth and whose actions hamper productivity.
