‘Fantastic’: What Truss’s allies said about budget that crashed UK economy

https://www.opendemocracy.net/en/liz-truss-kwasi-kwarteng-mini-budget-think-tanks/

[Kwasi Kwarteng’s ‘mini-budget’] announcements were cheered on by a group of secretive think tanks closely connected to Liz Truss and her advisers. After years of lobbying, a Conservative government had finally adopted their proposals to scrap the top rate of income tax, remove the cap on bankers’ bonuses, shelve a planned rise in corporation tax, and pledge a fresh crackdown on unions.

The Adam Smith Institute, where Truss’s political secretary Sophie Jarvis was head of government affairs, said the plans were “a welcome first step to getting the British economy back on track”.

The mood was particularly buoyant at the Institute of Economic Affairs (IEA), whose director general Mark Littlewood greeted the announcement by claiming: “This isn’t a trickle-down budget – it’s a boost-up budget.”

None of the think tanks discloses its funders, but the IEA has received donations from BP and ExxonMobil and, along with the Adam Smith Institute and the Centre for Policy Studies, the tobacco industry. The IEA and the Adam Smith Institute have also received millions of dollars from US funders of climate denial.

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