An emergency budget is due on September 23. Liz Truss’ government will borrow £150bn to give to the already engorged energy companies. Kwarteng, the Chancellor, will further redistribute wealth to the rich, whilst speaking about the importance of growth with no policies to achieve it. The people pick up the tab.
The economic project of the Truss government overall has no prospects at all of meeting its stated aim of increasing the trend rate of growth in the economy.
The sole important obstacle to severe further damage to living standards, public services and wider society that are central to the project is the resistance being mounted by many trade unions and their members.
The Tory leadership candidates are agreed on all essentials of policy. They are both believers in a small state, which means they are intent on further cuts to public services, outsourcing and privatisation. They also agree on a commitment to outlaw strikes. There is only a furious debate on the tactical issue of when to implement tax cuts.