Published October 20, 2022
The resignation of British Prime Minister Liz Truss on Thursday morning puts an end to a month of economic and political turmoil. Republicans should take note of her mistakes if they want to avoid a similar debacle after the midterms and in 2024.
Truss’s first mistake was to push a radical economic agenda she did not campaign on. Her personal views supporting a low-tax, smaller government were telegraphed years ago in her book, “Britannia Unchained.” But she did not campaign for the premiership on that agenda. She had promised some modest tax reductions and offered rhetorical backing for deregulation. But those were far short of the sweeping tax cuts she and her chancellor of the exchequer unveiled in their now-infamous mini-budget proposed in late September.
Henry Olsen, a senior fellow at the Ethics and Public Policy Center, studies and provides commentary on American politics. His work focuses on how America’s political order is being upended by populist challenges, from the left and the right. He also studies populism’s impact in other democracies in the developed world.