What's the greatest threat, to Liz Truss’s premiership? Keir Starmer? Vladimir Putin? The international bond markets? Sneaky Nicola Sturgeon? None of the above. It's her own party.
After a magnificent speech, at Tory party conference yesterday, in which this wonderfully unpolished, clear-sighted and authentic politician – who gets things done, like most women - laid out her vision for Britain.
A prime minister with a vision? Praise the Lord.
But all we are hearing about, following yesterday’s triumph, is conservative backbenchers, many of whom exited the cabinet following Johnson's departure, plotting her removal.
The cut to 45p in the top rate of tax was a brilliant policy, which could potentially have cost nothing or even brought more money in, as more people moved up the pay bracket, without fear of being clobbered by HMRC.
It would have attracted high flyers from around the world into the UK. Organisations like the Institute for fiscal studies, and its head Paul Johnson, who I do admire, was squealing about the tax cuts just a few days ago, but now admits the 45p cut was insignificant, in the general scheme of things. Here’s what he said after the top rate tax cut u turn:
"A reminder that abandoning the cut to the 45p rate may be important politically. It may matter for the tone of government. It affects inequality. But it is of trivial importance fiscally."
Well they could've mentioned that at the time. It certainly wasn’t couched in those terms on budget day. But what did for the 45p tax cut wasn’t the opposition, political think tanks, economic experts or currency traders. It was Tory MPs.
Mark Dolan says the greatest threat to the Tories is themselves.
Image: GB News
I'm talking about the likes of that snake in the grass Michael Gove, parliament's answer to John Travolta, the dance floor hogging former levelling up secretary, going on Sunday morning telly to say the tax cuts were unconservative.
On what planet are low tax cuts unconservative? The top rate cut, was simply there to make the economy more competitive and grow it, so we can help everyone in our society.
Losing it, is a blow to our economic prospects and we will be all the poorer for it. If all Conservative MPs had got behind this plan to reduce taxes, for the rich AND THE poor, we could poach French bankers from Paris and German bankers from Frankfurt and we would be laughing all the way to the bank. Shame on them.
Liz Truss’s rumoured next step, to get on top of out of control public spending, by linking benefit rises to average earnings rather than inflation – which is how it is for working Brits - looks to be the next plank of Trussonomics to go, thanks to party divisions. What a bunch of planks these Tories are.
Mark Dolan says Michael Gove is a 'snake'.
Stefan Rousseau
This includes cabinet minister Penny Mordaunt who has shot this plan out of the sky, seemingly making policy up on the hoof.
Meanwhile Tory MPs will no doubt thwart fracking sites in their own constituency, which is aimed at making Britain's energy independent and thwart housebuilding due to nimbyism, in spite a desperate lack of homes. With these disloyal Tory backbenchers trying to end Truss’s premiership before it's even started, we might as well have a Labour government. If they carry on behaving like this and refuse to get behind their impressive new leader, there will be one.
Meanwhile what’s happened to the alleged crashing of the economy? The pound is recovered, the cost of government borrowing has fallen and the aforementioned Institute for fiscal studies, as reported in the Telegraph, point out today that Brits are suffering £21 billion worth of stealth taxes. Proving that those tax cuts weren't just a luxury but a necessity.
It’s hard keeping up with these experts isn’t it? One minute the tax cuts are excessive, now taxes are too high. Which is it? Make your bleedin’ mind up.
Liz Truss can go from zero to hero if she holds her nerve, goes for growth and whips her party into shape.
Truss’s policies are an attempt to move the dial for the British economy, and get the country moving, but they will take political courage and a united party. That mini budget was bold, brilliant and brave. But these plotters have no such stomach for the fight.
They want tax and spend, and to see a low growth, high tax economy in which Britain will be living on the never never, forever ever.
They are cowards, with no backbone. But it was ever thus. Thatcher had the same problem with the so called Tory wets, who blocked her important reforms.
The weak are a long time in politics. Rishi Sunak supporters have got to decide whether they are willing to bury the hatchet, or play their part in making Keir Starmer our next prime minister.
Talk of replacing Truss now is insanity. The British people will never forgive the Conservatives for this chaos. By plotting to install Rishi Sunak as prime minister by December, they are turkeys voting for Christmas. Truss should tell them, to get stuffed.
