Liz Truss: economic consensus since 1997 to blame for UK woes – not me

Truss has spent the past few months attempting to rehabilitate her political reputation after her turbulent time in No 10 – the shortest ever term for a prime minister.

Last week she gave an interview to the Mail on Sunday in which she accused the Bank of England and the Office for Budget Responsibility of being part of “an orthodoxy that was gradually moving to the left”.

In her speech on Monday she will say: “Free market economists went off to lucrative jobs in the City, allowing academic institutions and thinktanks to be captured by the left.”

Daisy Cooper, the Liberal Democrat deputy leader, likened the speech to “an arsonist giving a talk on fire safety”, while Labour urged her successor, Rishi Sunak, to block her planned resignation honours list.

Carney was in Montreal on Saturday at the Global Progress Action Summit, and made the comment in a reference to Argentina’s history of being unable to services its debts and Truss’s mini-budget of unfunded tax cuts.

According to the book, senior officials at No 10 and the Treasury had to intervene to persuade Truss to abandon many of her policies after being warned by City executives that the UK would enter a financial crisis within days if she did not.