Jeremy Hunt has confirmed that Prime Minister Liz Truss’ economic vision is not only defunct, but the immediate actions of this administration will be almost the exact opposite of what the prime minister promised during the campaign. summer election.
This is a cold, hard reality check from a prime minister who is outspoken about the fact that his main aim is to put out the fires set by the government he has just joined and restore some credibility to the UK economy.
Some taxes will increase, some will be cut more slowly than expected, and public spending will be cut with every department asked to seek savings.
Live politics: Jeremy Hunt warns of ‘difficult decisions’
Does this mean pushing back the basic income tax cut to 2023? Can the Department of Defense still expect an increase in its funding? Is there any chance that public sector wage growth will reach near-inflationary levels?
Politically, there is an argument to be made that Jeremy Hunt is now more powerful than the prime minister.
Disturbed by her flagship policies, Liz Truss has reached this experienced hand to bring stability.
As a result, he is virtually impossible to arrest and now wields considerable power to force the passage of unpopular policies on the basis that they are necessary to correct the mistakes made in the last month.
But politically, this will be painful for the government.
Efforts to cut budgets by ministries will face resistance from cabinet ministers.
Ultimately, the Conservatives are likely to run into the next election after overseeing a protracted painful period in the country.
The tragedy for the party was that much of it could have been avoided.
