Kwarteng’s mini-budget – a Liberal Democrat response

As was expected (and announced in advance, despite Speaker Lindsey Hoyle's warnings to the previous administration about contacting the media before making an announcement in Parliament), the Truss administration appears to have produced a budget that gives something to everyone (as long as everyone is a multimillionaire).

The sheer intellectual ineptitude of this government can be seen in several measures:

The decision to reintroduce fracking, a clear breach of the promises made in the 2019 manifesto. Communities who oppose this measure, which brings about significant risks, and will never be economically viable (see the present Chancellor's comments made earlier this year) will be bribed into submission.

Liberal Democrats wish to see a more environmentally friendly society. Fracking is not the answer, and never will be. This move will be vigorously opposed by Liberal Democrats in any area where it is proposed.

Cuts in income tax will not provide significant help to most pensioners or others on low incomes, and the cancellation of the rise in National Insurance, along with the scrapping of the dedicated social levy simply means that the status quo remains. The removal of the cap on bankers' bonuses is an invitation to speculation by the self-styled "Masters of the Universe", who were responsible for the disastrous 2007-8 financial crash. Councillor Paul Ray of Lichfield District and City Councils, says, "No banker is likely to have to choose between heating and eating, unlike the majority of those living in the UK, who have been tossed a few crumbs which will not even cover the projected rises in energy prices."

Trickle-down economics, as espoused by then President Reagan, proved to be a complete fiction. Indeed, Reagan was forced to abandon his tax reduction programme. The Laffer curve, whose basic validity is admitted by all serious economists (though there are differences of opinion with regard to details), shows that the Truss/Kwarteng dream of growth through lower taxation is a right-wing myth, with as much substance as a belief in unicorns.

Liberal Democrats oppose divisive tax cuts, preferring to increase taxes on those best able to afford them, and use the proceeds to fund health and social care programmes.

Brexit, as a named concept, is clearly off the table, given the inability of the then Minister for Brexit Opportunities to find any such opportunities other than more powerful vacuum cleaners, and the ability to use outdated standards of weights and measures. Strangely, this post seems to have been eliminated from the current gaggle of ministers. "However," says Councillor Hugh Ashton of Lichfield City Council, "one of the unspoken goals of Brexit always seems to have been to eliminate any egalitarian goals of the EU, and to replace them with economically and socially divisive policies. This appears to be what this unelected administration seeks to achieve with this economic package."

Liberal Democrats were against Brexit from the start. Their concerns and those of those opposing Brexit were dismissed as "Project Fear". Sadly, this has turned into "Project Reality". It would be good to see previous supporters of Brexit admitting that leaving the EU has been a disaster, but we are not holding our breath.

Despite calls from all sides to impose a windfall tax on the energy companies, Truss and her team have chosen to borrow money from the magic money tree of the future in order to pay subsidies to the already heavily subsidised enterprises, which are already reporting record profits. The result will still be sharp increases in household energy bills.

Liberal Democrats believe in a fair distribution of wealth, where those in need receive help, as a result of contributions from those who can afford it. The Truss administration seems to believe in taking from those who are least able to give, and awarding the proceeds to those who need the money the least.

Lastly - it should be noted that this government was not elected by the people. It was not even elected by the representatives of the people - Members of Parliament. Truss started with a mere 14% of the MPs' vote, and never once overtook Sunak. Only when the vote was put to the microscopic portion of the population, including the ex-Faragist party members, that makes up the current Conservative Party (and there was speculation as to who in that electorate was actually British), did Truss appear as the winner.

In short, it appears that a Prime Minister, coming into power to replace a government elected by only 43% of the votes and starting with an approval rating in the low twenties, has taken it upon herself to wreck the economy for years to come, in order to benefit the financial supporters of her party, who will now reap the rewards for their purchase of the democratic system.

Liberal Democrats are in favour of a system of proportional representation and an overhaul of the constitution, in order to prevent the hijacking of the government of the United Kingdom by a small cabal of narrow-minded fanatics.

Paul Ray says that, "Usually, it is a matter of pride to declare oneself as a member of a political party that espouses certain principles. However, it is hard to imagine that anyone of any moral integrity can stand up and proudly announce their support for this unelected divisive group of economic and political lightweights. As Liberal Democrats, we are proud to offer a change - the change that you have been looking for."