Kwasi Kwarteng has revealed he warned Liz Truss about going too far and too fast with her tax-cutting agenda, urging her to ‘slow down’ if she wanted to keep her job.
The former chancellor said he told then-Prime Minister it was ‘mad’ to fire him days before she departed No 10 herself.
In his first interview since being sacked last month, Mr Kwarteng also praised Rishi Sunak as a ‘very credible’ prime minister but warned him over the impending tax rises in next week’s Autumn Statement.
He told TalkTV: ‘We tried to do too much too quickly. Too much too fast. I think the strategic goal was right. But I think we should have had a much more measured approach’.
He said he bore ‘some responsibility’ for the timetable of the mini-budget, but that Ms Truss ‘was very much of the view that we needed to move things fast. But I think it was too quick’, he added.
‘Even after the mini budget we were going at breakneck speed. And I said, “You know, we should slow down, slow down”.’ She said, “Well, I’ve only got two years” and I said, “You will have two months if you carry on like this”. And I’m afraid that’s what happened’.