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Commentary
Wall Street Journal

Liz Truss鈥檚 Big Gamble on the UK Economy

walter_russell_mead
walter_russell_mead
Ravenel B. Curry III Distinguished Fellow in Strategy and Statesmanship
liz truss
Caption
Liz Truss on November 14, 2021, in London, England. (Wikimedia Commons)

Not since Winston Churchill took office as Hitler鈥檚 Blitzkrieg rolled across Europe in May 1940 has a British prime minister faced such turbulence in the opening days of an administration. No sooner had the official mourning for Britain鈥檚 longest-serving monarch come to a close than of stock markets reeling and interest rates soaring and drove the against the dollar.

Like Churchill, Ms. Truss must worry about back-stabbing Tory members of Parliament who distrust her and think her extreme. There鈥檚 more. Britain faces a harsh winter as the global energy crisis pushes heating prices higher than many households can afford. Recent polls show Ms. Truss鈥檚 Tories trailing the opposition Labour Party by 10 points. She must turn things around by January 2025, when the next general election must be held.