Opinion  

The Lettuce wins and the UK loses

Simoney Kyriakou

Simoney Kyriakou

So Liz Truss has stepped down as Prime Minister amid a turbulent time for party and country. 

As the lettuce outlasted Truss - those of you who took a punt might have won a lot of money on that national newspaper's running bet - what else has outlasted the PM who has been in power for less than two months?

An economic crisis has outlasted the six-week PM.

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A crisis of confidence in the political process. 

A scorching loss for businesses, pension funds, workers, consumers and pensioners.

Truss may have lost the authority of her party, but the general public is the biggest loser of course.

Everything from pensions to petrol, from exchange rates to energy prices, from food prices to funding mortgages - Britons will be living with the effects of Truss' disastrous premiership for years to come.

The Trussonomics unveiled at the disastrous "mini" Budget and the spectacular U-turns in the following weeks caused markets to wobble, sterling to crash and prompted the Bank of England to enter into a gilt-buying scheme (again) and raise base rates (again). 

As a result mortgage rates have risen so much that brokers have warned of significant financial implications for would-be and existing borrowers.  

For me, the writing was on the wall when the International Monetary Fund issued a statement saying it was keeping an eye on the UK economy. 

"A crisis made in Downing Street - paid for by working people in higher bills, higher rents and higher mortgages", said Labour leader Kier Starmer.

A crisis caused by the party with the biggest house majority. 

And the bill to clean up all this mess will have to be paid by the British people, a mess that will have a long-term effect on British households that far outlasts the average leadership time of Tory party leaders. 

A disgrace, whatever your political conviction. 

A disgrace to our country's reputation, our political process and to the British people. 

You all deserve better. 

simoney.kyriakou@ft.com