According to supporters of the former prime minister, the catastrophic new GDP data validate Trussonomics.

According to supporters of the former prime minister, the catastrophic new GDP data validate Trussonomics.

As recent GDP numbers indicated that Britain is in a deeper than anticipated recession, supporters of the former prime minister said that Trussonomics was the greatest strategy to salvage the British economy.

After Kwasi Kwarteng’s mini-budget, which sparked a fall in the pound and bond markets, Liz Truss was ousted by Tory MPs after just 44 days. However, today’s GDP numbers indicate that abandoning their growth strategy may have had long-term negative effects for Britain.

Professor Patrick Minford, an economist, said in an article for Express that Rishi Sunak and his Chancellor Jeremy Hunt had “ran out of excuses.”

It occurred at a time when the country’s gross domestic product (GDP), which measures the value of all goods and services generated at the time, is currently believed to have decreased by 0.3 percent during the third quarter.

The OBR forecasts that France and India will soon overtake the UK in terms of economic size, with British GDP expected to decline by 1.4 percent in 2023.

He also accused Ms. Truss of giving up on her economic ambitions, which included firing Mr. Kwarteng.

Dr. Minford stated: “The pity of it all is that Liz Truss gave up on her agenda so soon.”

“The panic over rising mortgage rates could have been contained by the Bank of England, had she forced it to cooperate.”

The previous administration’s policies, according to Jacob Rees-Mogg, who served as Ms. Truss’s business secretary until quitting when Mr. Sunak was elected prime minister, would have been preferable.

However, Mr. Rees-Mogg has encouraged his colleagues to “stay loyal” to Mr. Sunak.

Other Tory backbenchers have expressed their frustration with the government of Mr. Sunak’s tax-hiking measures.

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