In a nod to Margaret Thatcher’s strategy, Liz Truss plans to choose her own economics expert if she wins the leadership competition.
In order to get advice on how to address the cost-of-living problem and take full advantage of post-Brexit prospects, the Foreign Secretary is speaking with influential leaders in the academic community and the City.
When Mrs. Thatcher was in office, a disagreement over Nigel Lawson’s proposal to join the European Monetary System led to both men’s resignations. Lawson was Sir Alan Walters’ economics advisor.
VOCAL: Alan Walters, No. 10 advisor. An economist from Britain who is seen with his wife Lady Paddie is most known for serving as Margaret Thatcher’s former chief economic adviser from 1981 to 1983 and again in 1989 following his return from the United States.
Kwasi Kwarteng (right), the business secretary, is anticipated to succeed Liz Truss (left) as Tory leader.
As part of her strategy to give Downing Street greater influence over the UK’s economic policy, Miss Truss is said to feel that her connection with Business Secretary Kwasi Kwarteng, who is anticipated to become Chancellor, is strong enough to survive the appointment.
Ms. Truss is said to think that the Treasury has become too dominant, allowing Chancellors to stifle reforms, particularly Rishi Sunak.
She also intends to reassess the conditions governing the Bank of England’s independence because she believes in private that Governor Andrew Bailey has been “asleep at the wheel” as a result of growing inflation to double digits and rising interest rates.
The MoS is also aware that, if she is elected, Miss Truss is eager to “rehabilitate” Mr. Sunak’s supporters when making appointments to her Government as part of her belief in having the “best players on the field.”
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