Liz Truss was ‘ecstatic’ with mini-budget plan and claims Number 10 infested with fleas in new memoir
Liz Truss has revealed she considered abolishing the UK’s economic watchdog and replacing leaders at the Treasury and Bank of England, accusing the bodies of being “pro-China” and “pro-Remain”.
The country’s shortest serving prime minister said she discussed scrapping the Office for Budget Responsibility (OBR) with her Chancellor Kwasi Kwarteng but concluded it would have “amounted to a declaration of war on the economic establishment”.
In an extract from her memoir published by the Daily Mail, Ms Truss says the OBR, Treasury, and Bank of England “were more interested in balancing the books than growing the economy” and saw immigration “as a way of fixing the public finances”.
Defending her September 2022 mini-budget – which led to a surge in borrowing costs and saw the pound slump to a 37-year low against the dollar – the former prime minister said she would “accept that the communications around the mini-budget were not as good as they could have been”.
However, she said the afternoon after which Chancellor Kwasi Kwarteng outlined the growth plan was “probably my happiest moment as prime minister” adding “I was ecstatic”.
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Truss’ time as PM
Mr Kwarteng was sacked three weeks later amid rising mortgage costs, before most measures in the statement were axed in an attempt to stabilise financial markets.
Kwasi Kwarteng was also sacked following the mini-budget. Pic: PA
The serialisation also includes behind-the-scenes details of domestic life as a senior government figure.
While foreign secretary, Ms Truss says she was forced to share the grace-and-favour Chevening mansion in Kent with her predecessor Dominic Raab and would find “protein shakes labelled ‘Raab’ in the fridge”.
Anecdotes, complaints and lamentations – but a lack of self-awareness
Given Liz Truss is the shortest-serving prime minister in UK history and given she oversaw an economic meltdown and was forced to fire her own Chancellor and repeal most of her policy offering, the extracts of her memoirs are strikingly bereft of any self-criticism or self-awareness.
As the political blogger Sam Freeman has pointed, bits of the book feel like a ‘what I did on my holidays school essay’.
There’s amusing and eminently readable anecdotes about trying to get Ocado shops delivered to Downing Street, taking her children into the government nuclear bunker, and finding Dominic Raab’s protein shakes in the fridge at the foreign secretary’s country residence.
There’s also some complaining.
The former Prime Minister laments having to book her own hair and make up and says a lack of medical support meant her private secretary had to get her cough medicine in the middle of the night.
She says living in Downing Street was “intensely claustrophobic” and she was “effectively a prisoner”.
It’s an open question whether that stirs much sympathy with those who saw their mortgage rates soar during her chaotic 50 days in office.
Then there’s the now familiar defence of her economic strategy, which once again seems to consist of blaming everyone bar herself.
In four pages of text, I spotted just two flashes of introspection.
She acknowledges that the “communications around the mini-budget were not as good as they could have been”. But then neuters that mea culpa by adding: “But I have to ask: what would we have been waiting for?”
She also says the late Queen had told her to “pace yourself”, before adding “maybe I should have listened”.
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The Norfolk MP is also critical of the levels of personal support offered to UK prime ministers saying “despite now being one of the most photographed people in the country, I had to organise my own hair and make-up appointments”.
She described the prime ministerial flat above the Number 10 offices as infested with fleas that some claimed came from her predecessor Boris Johnson’s dog Dilyn.
Ms Truss also revealed she and her husband had ordered new furniture for the residence “but were evicted before it could be delivered”.
The death of the Queen is also described in the extracts, with Ms Truss saying the fact it happened on her second full day as prime minister left her in a “state of shock” and thinking “Why me? Why now?”.
Politics
UK-US trade deal ‘isn’t worth the paper it’s written on’, says Nobel Prize-winning economist
A Nobel Prize-winning economist has told Sky News the recently announced UK-US trade deal “isn’t worth the paper it’s written on”.
Sir Keir Starmer and Donald Trump announced the “first-of-a-kind” agreement with a live, televised phone call earlier this week – and the British prime minister hailed the deal as one that will save thousands of jobs in the UK.
Politics latest: Tories criticise proposals to tackle immigration
But leading economist Joseph Stiglitz has told Sunday Morning with Trevor Phillips he “wouldn’t view [the deal] as a great achievement”.
“Any agreement with Trump isn’t worth the paper it’s written on,” he said, pointing out the president signed deals with Canada and Mexico during his first term – only to slap them with hiked tariffs within days of returning to the White House this year.
“I would view it as playing into Trump’s strategy,” he said.
“His strategy is divide and conquer, go after the weakest countries, and sort of put the stronger countries in the back.”
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How good is the UK-US deal?
The scramble to secure a UK-US trade deal was sparked by Mr Trump’s ‘Liberation Day’ announcement last month, which saw the president hike import tariffs for multiple countries and subsequently send global markets crashing.
China initially faced tariffs of 34% and when Beijing hit the US with retaliatory rates, a trade war quickly ensued.
The US and China now impose tariffs of above 100% on each other, but representatives from the two countries have this weekend met for high-stakes negotiations.
Read more:
Key details in the UK-US deal
Analysis – the challenge Starmer faces
Donald Trump, with US vice president JD Vance and Britain’s ambassador to the US Peter Mandelson, announcing the deal. Pic: AP
Sir Keir Starmer dialled in for the deal announcement. Pic: AP
With its response to Mr Trump, Beijing “made it very clear that the US is very dependent on China in so many ways,” Mr Stiglitz said.
“So they’re beginning now to negotiate, but from a position of strength.”
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Asked if he thinks the UK should have focused on its relationship with the EU instead of the US, Mr Stiglitz said: “Very much so.
“My view is that if you had worked with the EU to get a good deal, you could have done better than what you’ve done.
“If it turns out, in the end, when you work it all out, Trump is unhappy, he’ll run. If he’s unhappy, I pray for you.”
Among the terms in the UK-US trade deal are reduced tariffs on British car and steel exports to the US, while the UK has agreed to remove a tariff on ethanol, used to produce beer.
The agreement also opens a new agricultural exchange, with US farmers being given access to the UK for the first time – though UK food standards on imports have not been weakened.
UFC fighter turned Irish political candidate Conor McGregor has endorsed the idea of building a Bitcoin reserve in his country to give more “power back to the people.”
“Crypto in it’s origin was founded to give power back to the people. An Irish Bitcoin strategic reserve will give power to the people’s money,” McGregor wrote to X on May 9.
The former UFC champion said he would discuss his plans in more detail in an upcoming X spaces, prompting responses from some of the Bitcoin industry’s most prominent leaders.
“We need the greatest minds for this BTC Reserve. Message me and lets chat on my space,” McGregor said in response to Bitcoiner and host of The Pomp Podcast, Anthony Pompliano.
One of US President Donald Trump’s crypto advisors, David Bailey, also reached out, to which McGregor responded: “David message me, let’s discuss your ideas!”
McGregor announced his independent candidacy for the Irish presidency in late March 2025, centering his campaign on anti-immigration policies and combating crime.
Ireland’s next presidential election must take place by Nov. 11, 2025, as the term of the current President, Michael D. Higgins, is set to end the day after.
Establishing a Bitcoin reserve — let alone one coming from a minor, independent party — would be no easy feat.
Despite recent regulatory progress, the US, El Salvador and Bhutan are among the few countries that have established a Bitcoin reserve to date.
Related: US has ‘countless’ ways to bolster Bitcoin reserve: Bo Hines
McGregor’s political visibility was recently boosted by a trip to the White House, where he met Trump and received his support.
However, McGregor is facing intense scrutiny in Ireland, having recently been found guilty of sexual assault in a civil case — a conviction which he has since appealed — while also previously being investigated for hate speech crimes.
McGregor’s last crypto endeavor failed
McGregor’s push for a Bitcoin reserve comes a little over a month after the McGregor-backed REAL project failed to attract sufficient funding in its token launch pre-sale, prompting a full refund to all token bidders.
The team behind the project, Real World Gaming, only raised $392,315 over a 28-hour presale on April 5 and 6, less than half of the $1 million minimum requirement that it initially set.
Magazine: Adam Back says Bitcoin price cycle ’10x bigger’ but will still decisively break above $100K
Sir Keir Starmer has joined other European leaders in Kyiv to press Russia to agree an unconditional 30-day ceasefire.
The prime minister is attending the summit alongside French President Emmanuel Macron, recently-elected German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk.
It is the first time the leaders of the four countries have travelled to Ukraine at the same time – arriving in the capital by train – with their meeting hosted by President Volodymyr Zelenskyy.
Sir Keir Starmer, Emmanuel Macron and Friedrich Merz travelling in the saloon car of a special train to Kyiv. Pic: Reuters
Leaders arrive in Kyiv by train. Pic: PA
It comes after Donald Trump called for “ideally” a 30-day ceasefire between Kyiv and Moscow, and warned that if any pause in the fighting is not respected “the US and its partners will impose further sanctions”.
Security and defence analyst Michael Clarke told Sky News presenter Samantha Washington the European leaders are “rowing in behind” the US president, who referred to his “European allies” for the first time in this context in a post on his Truth Social platform.
“So this meeting is all about heaping pressure on the Russians to go along with the American proposal,” he said.
“It’s the closest the Europeans and the US have been for about three months on this issue.”
Sir Keir Starmer, Volodymyr Zelenskyy and Emmanuel Macron among world leaders in Kyiv. Pic: AP
Trump calls for ceasefire. Pic: Truth Social
Ukraine’s foreign minister Andrii Sybiha said Ukraine and its allies are ready for a “full, unconditional ceasefire” for at least 30 days starting on Monday.
Ahead of the meeting on Saturday, Sir Keir, Mr Macron, Mr Tusk and Mr Merz released a joint statement.
European leaders show solidarity – but await Trump’s backing
The hope is Russia’s unilateral ceasefire, such as it’s worth, can be extended for a month to give peace a chance.
But ahead of the meeting, Ukrainian sources told Sky News they are still waiting for President Donald Trump to put his full weight behind the idea.
The US leader has said a 30-day ceasefire would be ideal, but has shown no willingness yet for putting pressure on Russian president Vladimir Putin to agree.
The Russians say a ceasefire can only come after a peace deal can be reached.
European allies are still putting their hopes in a negotiated end to the war despite Moscow’s intransigence and President Trump’s apparent one-sided approach favouring Russia.
Ukrainians would prefer to be given enough economic and military support to secure victory.
But in over three years, despite its massive economic superiority to Russia and its access to more advanced military technology, Europe has not found the political will to give Kyiv the means to win.
Until they do, Vladimir Putin may decide it is still worth pursuing this war despite its massive cost in men and materiel on both sides.
“We reiterate our backing for President Trump’s calls for a peace deal and call on Russia to stop obstructing efforts to secure an enduring peace,” they said.
“Alongside the US, we call on Russia to agree a full and unconditional 30-day ceasefire to create the space for talks on a just and lasting peace.”
Sir Keir and Volodymyr Zelenskyy during a meeting in March. Pic: AP
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Putin’s Victory Day parade explained
The leaders said they were “ready to support peace talks as soon as possible”.
But they warned that they would continue to “ratchet up pressure on Russia’s war machine” until Moscow agrees to a lasting ceasefire.
“We are clear the bloodshed must end, Russia must stop its illegal invasion, and Ukraine must be able to prosper as a safe, secure and sovereign nation within its internationally recognised borders for generations to come,” their statement added.
“We will continue to increase our support for Ukraine.”
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The European leaders are set to visit the Maidan, a central square in Ukraine’s capital where flags represent those who died in the war.
They are also expected to host a virtual meeting for other leaders in the “coalition of the willing” to update them on progress towards a peacekeeping force.
Military officers from around 30 countries have been involved in drawing up plans for a coalition, which would provide a peacekeeping force in the event of a ceasefire being agreed between Russia and Ukraine.
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This force “would help regenerate Ukraine’s armed forces after any peace deal and strengthen confidence in any future peace”, according to Number 10.
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