The Conservative Party leadership race, and indeed the next general election, will be decided by big economic ideas. In a country in which double-digit inflation has just arrived and a recession is all but inevitable, voters want bold new ideas.
Liz Truss understands this well, and is offering Conservative members a £30bn package of tax cuts alongside other measures, such as “full-fat free ports”, which she claims will boost investment while simultaneously lowering inflation. “Trussonomics” is a radical departure from the current orthodoxy, an economic rethink that will have serious implications for businesses, consumers and institutions, especially the Bank of England.
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