Liz wanted to reduce the tax burden and to reduce regulation to stimulate growth and avoid a recession but did nothing to limit public expenditure. That was the part of the traditional conservative philosophy of low taxes and small state.

Rishi has returned to the global socialist/communist thinking of high tax which will accelerate our descent into recession. He is taking a hard line on public expenditure to reduce the deficit black hole. 

Unfortunately, it has been demonstrated time and again without fail that high tax demand slows growth and quite quickly reduces the tax revenue collected. In popular terms it is an own goal.

Liz failed because she didn’t stand her ground when the markets deliberately flipped to devalue the pound and drive her out of office. Actually, the value of the pound hasn’t dropped significantly against the Euro because the main problem is cost of energy here and in the Eurozone, whereas presently in the USA (and until the Democrats put a stop to it) they are awash with oil and gas.

So, the Euro and the Pound have both fallen significantly against the Dollar. 

The problem Liz also had was that the majority of the parliamentary party are Global Socialists and wanted Rishi, whereas the grassroots wanted a Conservative. Sacking her Chancellor and blaming him was the ultimate weakness and she shed herself of her greatest ally.

So what should the answer be? Each were only half right. What is required and what I as Treasury Spokesman would recommend is low taxes and a reduction in public expenditure. Then the recession will be minimised, the tax base will prosper, and the black hole will start to be refilled.

The European Research Group is traditionally Conservative and also against Net Zero but there are 60 MPs drowned out by the other 300 globalists. Kemi Badenoch and Suella Braverman are traditional Conservatives wanting to complete Brexit, wanting to stop the illegal migrants’ boats and limit legal migration and return to a low tax, high growth, low state economy.

They will achieve little while outnumbered by the globalists. 

If they were to defect to the UK Independence Party the Conservatives would be forced into a coalition with us to remain in power. Then the tail can wag the dog and the UK can start to prosper again.

Antony Nailer

UK Independence Party – Treasury Spokesman