Liz Truss Refuses to Take Blame for Mortgage Mayhem

In a recent interview with Sky News, former Prime Minister Liz Truss refused to take responsibility for the mortgage mayhem that affected millions of homeowners following her mini-budget in October 2022. Instead, she accused the Bank of England of undermining her policy during her 49 days in office.

“I question the premise of what you’re asking me, because mortgage rates have gone up across the world,” she said.

Truss claimed that the issues she faced in office were due to a deep resistance within the establishment, and that she was not responsible for the sharp rise in interest rates.

“I think it’s wrong to suggest that I’m responsible for British people paying higher mortgages. That is something that has happened in every country in the free world.”

The former Prime Minister also acknowledged that her government had lost the confidence of financial markets following the mini-budget, which included a series of unfunded tax cuts. She expressed regret for not meeting with Bank of England governor Andrew Bailey at the time, which she believed could have helped to alleviate the market problems.

The Bank of England’s role in the mortgage mayhem

Truss’s comments have sparked controversy, with many critics arguing that her policies were responsible for the mortgage crisis. However, she remains adamant that she is not to blame.

“I’m not saying that I got everything absolutely perfect in the way the policy was communicated. But what I am saying is I faced real resistance and actions by the Bank of England that undermine my policy and created the problems in the market.”

The mortgage crisis has had a devastating impact on many homeowners, with many struggling to keep up with rising interest rates. As the debate continues, one thing is clear: the consequences of the mortgage mayhem will be felt for a long time to come.

Mortgage rates have risen sharply in recent months

In related news, Truss has also spoken about her new book, Ten Years To Save the West, and has denied any plans to return to Downing Street.

“No, I don’t want to reinstate myself as prime minister,” she said.

As the mortgage crisis continues to dominate the headlines, one thing is clear: the consequences of the mortgage mayhem will be felt for a long time to come.

Liz Truss remains adamant that she is not to blame for the mortgage crisis