Tories Formally Repudiate Truss Mini-Budget

The UK Conservative Party, through shadow chancellor Mel Stride, has officially apologized for and distanced itself from former Prime Minister Liz Truss's 2022 mini-budget, which featured £45bn in unfunded tax cuts and caused significant economic turmoil, a fall in the pound, and rising mortgage rates. Stride promised in a public address that the Conservatives would never again make unaffordable fiscal pledges, attributing lasting reputational damage to the party's economic competence to the mini-budget. Liz Truss criticized the apology, arguing that party leadership was undermining her growth-focused strategy and adhering to failed economic orthodoxy. The Conservatives' repudiation of Truss’s legacy aims to counter similar tax cut proposals from Reform UK, which Stride called unfunded populism. Labour continues to leverage the mini-budget fallout as a central criticism of the Conservatives. The party leadership now insists that future economic policy will prioritize fiscal discipline and responsible planning.