Joe Biden Says Liz Truss' Mini-Budget Was A 'Mistake' And Its Failure 'Predictable'

US President attacks policy of "cutting taxes on the super-wealthy".
Mario Tama via Getty Images

Joe Biden has criticised Liz Truss mini-Budget as a “mistake” and its implosion as “predictable”.

“I think that the idea of cutting taxes on the super-wealthy at a time when, anyway, I disagree with the policy,” The US President.

“But that’s up to Great Britain to make that choice not me.”

It is highly unusual for a US President to issue such sharp criticism of the domestic policies of a close ally.

Biden said it was “predictable” that Truss was having to abandon much of her initial plan. “I wasn’t the only one that thought it was a mistake,” he said.

He also dismissed concerns about the strength of the dollar. “The problem is the lack of economic growth and sound policy in other countries,” Biden said.

In September, shortly before meeting Truss for the first time as PM, Biden had said he was “sick and tired of trickle-down economics”.

While the tweet was likely aimed at US Republicans not the British government, it was seized upon by the prime minister’s critics at home.

Jeremy Hunt, brought in to replace the sacked Kwasi Kwarteng as chancellor, spent Saturday effectively trashing the mini-Budget and the set of policies that brought Truss to power.

Writing in the Telegraph, Hunt that the government was “changing course”.

He begins his job of putting together a fresh budget for October 31. The Sunday Times has reported he could delay reducing basic rate of income tax by a year as part of a wider package designed to calm the financial markets.

But so far, his appointment has failed to dampen speculation of an imminent coup against Truss.

Rishi Sunak, the defeated leadership contender and former chancellor, as well as Defence Secretary Ben Wallace, have been among the names flagged as potential replacements.

Close

What's Hot