With acknowledgments to Harry Cole and James Heale‘s Out of the Blue: the Inside Story of the Unexpected Rise and Rapid Fall of Liz Truss
Simon Case and James Bowler – the new Treasury Permanent Secretary – warned Liz Truss that she needed to U-turn on plans to cut corporation tax in order to restore Britain’s market credibility and avoid being treated “like a third-world country”. Despite initial scepticism, Truss eventually agreed. Graham Brady urged her to sacrifice Kwasi Kwarteng, the Chancellor, who was in Washington.
Meanwhile, in a YouGov poll for The Times, it was revealed that 62 per cent of those who had voted for the Conservatives in 2019 had made a mistake in picking Truss. Not a single political, age, regional, gender, or demographic group thought they had been the right choice. Labour had a 24-point lead, as polls found her to be more unpopular than Boris Johnson or Jeremy Corbyn had been.