Two sides of Trussonomics: tax cuts and higher interest rates

Geoffrey Howe, then the chancellor, with the traditional budget briefcase in 1981, when higher taxes were a trigger for interest rate cuts. Photograph: PA

Liz Truss is short of heavyweight support for her plan to cut taxes immediately if she succeeds Boris Johnson as prime minister. Last week, when questioned on the Radio 4 Today programme, she came up with only one name: Professor Patrick Minford.

So it came as little surprise to find a letter appearing in the Daily Telegraph signed by a group of economists endorsing Truss’s proposal.