When I phoned LBC’s Sangita Myska show on Sunday afternoon I reflected on a word, and that word is this :-
Hubris
Wikipedia describes it, as an huge excess of pride or dangerous self confidence.
Well certainly Liz Truss has Hubris in spades,
When Ms Truss was running for leader of the party to which I belong, I decided to investigate.
I came across a book co-authored by Liz Truss, Kwasi Kwarteng, Chris Philp, Priti Patel & Dominic Raab.
Britannia Unchained.
I read the book and I immediately saw a guiding principle contained within, which was very alien to my Traditional Conservatism.
A value system based around Government helping the haves, and leaving the have nots.
A concept popularly known as Reaganism or Trickle Down.
I try very hard to play the ball not the man so :-
My arguments against trickle down, it is my feeling that Trickle Down cannot work in the British economy to any positive extent.
Our economy with its reliance on services rather than manufacturing, imports rather than home made & with its emphasis on high house prices….
In economic terms I would describe our Economy as exceptionally leaky.
It may have worked marginally in the US from whence the concept came as the US in many ways is a big enough economy for there to be several rotations of the circular economy before possible leaking out of the country or into unproductive assets.
On to the Man or the Woman in this case
When I first saw Liz Truss in the debates, I could see a woman completely sold out to the ideology, who was in a hurry, my reading of Brittania Unchained reinforced that view.
I have never seen a politician so completely enveloped in their ideology except perhaps Jeremy Corbyn.
That to my mind is extremely dangerous.
In many ways Liz Truss is very similar to Jeremy Corbyn, a complete ideologue but Liz seems to have no ability for self reflection or even an ability to listen.
Asa Bennett, Liz Truss speechwriter & Spad said on Iain Dale’s show on LBC that Liz Truss always wanted to make a splash, to go bigger, harder & propose higher than anyone else.
And it is my belief that the Brittania Unchained gang knew & know that their ideology is well outside the Overton window.
This why both Truss &Kwarteng never even tried to obtain an OBR report into their mini budget.
George Osborne tweeted that the assertion that the OBR stops politicians doing what they will with Tax & Spending to be a fallacy.
But the markets do expect stability and not sudden shocks, Truss &Kwarteng where warned of systemic risk of sudden actions, but they cut the guardrails in the sacking of Sir Tom Scholar
It is obvious that Truss & Kwarteng knew the consequences of their proposition, but hoped by force of will, to push it through.
They knew that they had to start with Tax Cuts for the well off as for their base a portion of the conservative party that Tax Cuts or Reaganomics is like Catnip.
But there is a wrinkle in their plan, as has been proved since Conservative party members are ground zero of the anti growth coalition. All they want & will permit is the sugar rush of tax cuts. So the Truss supply side revolutions could never happen, as all are predicated on money being available for investment, yet aside Foreign Direct Investment, Domestic Investment is crowded out by Property ‘Investment’
It is this crowding out, caused by Governmental constriction of housing supply that is the real issue & the biggest problem that the country faces. This naturally causes inflation as wage increases & industrial unrest follow. It also keeps state costs going Up as benefits are running to keep pace.
Of course this demands high taxes, the very opposite of what Trussites & the Anti Growth Coalition want.
Blue Sky Conservative 