Liz Truss has resigned. She will go down in history for being the Prime Minister who served for the shortest amount of time. However, this need not be her only legacy and her successor should follow her ambition of turning the UK into a high growth nation.
The tragedy with Truss is that she was absolutely right to not accept the managed decline of the UK and instead go for economic growth. Unfortunately she went about it in completely the wrong way. In an attempt to channel Thatcher she told us that the country was sick, but unlike Thatcher she misdiagnosed the problem and so the medicine didn’t work. Truss and her team focussed on taxation and so her solution was for very expensive tax cuts which plunged the economy into chaos.
