She has reached new levels of denial that would take most of us years of practice, like a Tibetan monk, to attain.
The UK recently had its King’s Speech. I saw it on TV. I preferred the film version, etc, etc.
The King doesn’t write it himself. If you have writers it shouldn’t end up that boring. Call me. I do scriptwriting work. I could have zinged that up a bit. I have a joke about it being like the film The King’s Speech I could offer.
There were 40 proposed bills, and with Labour’s majority there’s no reason they won’t all turn into laws. The House of Lords could slow the bills down, and one proposed bill is about abolishing hereditary peers in the House of Lords, so that one might get some pushback.
My favourite one is The Budget responsibility bill. People are calling it the “Liz Truss bill” and not in a good way. It gives powers to the Office for Budget Responsibility (OBR) to make judgements on any major taxation or spending announcements. It basically has been put in place to stop anyone from being able to “do a Liz Truss” again. That’s some legacy, where your name becomes a reference for mucking up the UK economy.
It’s like saying, “My parking was so bad I did a Brian Harvey back there.”
As soon as the King had read out his script Liz Truss tweeted (Xed) her reply saying, “The bad policies include; giving more powers to the failed OBR.”
Failed? That’s rich. The OBR lasted more than 49 days. Did you?
Liz had also complained about the way it was described in the briefing notes for the speech. It had described Liz Truss's mini-budget as "disastrous" but she said that showed political bias.
Which political side thinks what happened wasn’t a disaster? Which party is in favour of making mortgage rates shoot up? I bet some of the mortgage providers didn’t mind.
You can argue about whose fault it was but the outcome was a disaster so it earns the adjective.
Here’s what I don’t get. Liz was aiming for growth. Great. We all love growth, in a non-medical setting. That wasn’t just Liz who wanted growth, that’s a pretty standard wish.
She doesn’t like the idea of the OBR, so she didn’t run her mini-budget by it. She feared that the OBR would tell her not to do it.
So, she did it and it caused a problem with the LDIs, the liability driven investments. After the fact Liz has admitted that she “didn’t know the existence” of LDIs and if she did she may have scaled back the mini-budget.
Maybe that’s why you should have run the budget by some sort of office that had responsibility for budgetary things.
And yet we know that if she had involved the OBR, and the OBR had said, “Hang on, this might be a problem for the LDIs,” Liz would have been the first crying about how the deep state was stopping her implementing her growth plans.
“I didn’t know of the existence of…” isn’t evidence that your plan was right all along. At best your plan was ill-informed. If you didn’t know what you were doing you should have asked someone who did but anyone who knew about these matters was already written off as part of the problem.
So, to sum up, it’s unfair to call her mini-budget that was a disaster “disastrous” and her lack of information on the results of her plans somehow makes it not her fault.
If I had that level of denial about reality I’d spend ten minutes every night brushing my hair.
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