Sir Iain Duncan Smith, the former Tory leader and a supporter of Liz Truss, did a good job this morning of setting out the difficult picture which will face whoever wins the current contest when they enter Downing Street.
Sir Iain warned the cost-of-living crisis could be compounded by a predicted recession. The combination of the two would be an “utter human disaster”, he said, as he praised Ms Truss’s plan for tax cuts.
He told Sky News: “Liz Truss has been crystal clear from the beginning that should the need arise, she will do whatever is necessary.
“But right now on a campaign it’s not feasible for two candidates to literally make up amounts of money on the back of an envelope. What she wants to do on day one to start with is to make sure that we reduce the burden of taxation because why?
“Right now we face the potential of a recession. If you have a recession on top of this cost-of-living crisis it would be an utter human disaster.
“We need to avoid recession at all costs in the course of this winter, we need to do something about that, that’s where lower tax is important.”
