London CNN —When Liz Truss was briefly Britain’s prime minister a year ago, the world’s sixth-largest economy came close to resembling Argentina, a country plagued by financial and economic instability.
Truss and her Brexit-backing allies have long argued that lower taxes and fewer regulations — akin to Singapore’s approach — would help kickstart sorely needed growth in the UK.
Britain, for its part, is battling stubbornly high inflation, feeble economic growth and a rising public debt burden, which is the costliest to service among rich economies.
At the time, Carney, who was head of the Bank of England from 2013 to 2020, accused Truss’s government of “undercutting” the nation’s economic institutions.
“Mark Carney is part of the 25-year economic consensus that has led to low growth across the Western world,” she said.
Persons:
Liz Truss, Mark Carney, kickstart, Carney, “, Kwasi Kwarteng, Truss’s, undercutting, “ Mark Carney, ”, ” Truss, Olesya Dmitracova
Organizations:
London CNN, Bank of England, Institute for Government
Locations:
Argentina, United Kingdom, Montreal, Singapore, London