Liz Truss’s economic vision appeared doomed on Sunday, as she sought to stay in power despite an increasingly shaky-looking premiership.
New Chancellor Jeremy Hunt, brought in to replace the sacked Kwasi Kwarteng and to restore credibility to Downing Street, spent Saturday effectively trashing the mini-budget and the set of policies that brought Ms Truss to power.
Amid warnings of “difficult decisions” to come over the next two weeks, Mr Hunt and Ms Truss will meet in her Chequers residence on Sunday as tax rises and spending cuts loom on the horizon.
The Chancellor, who spent Saturday also meeting with Treasury officials, insisted that he and the Prime Minister were a “team” as he said that his priority was “growth underpinned by stability”.
Asked about the fallout from the mini-Budget, US president Joe Biden was vocal in his criticism of Truss’s plan, telling reporters: “I wasn’t the only one that thought it was a mistake,” and calling the outcome “predictable”.
Asked about her original economic strategy, he added that while he disagreed with her plan, it was up to the British people.
Mr Biden also dismissed concerns about the strength of the dollar: “The problem is the lack of economic growth and sound policy in other countries.”
Journalist Tim Shipman described the comment as “totally inappropriate”, but he was quickly reminded that he didn’t have the same reservations about Donald Trump sticking his oar in previously.
This Twitter exchange sums it up neatly:
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