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Liz Truss, the former prime minister, has made a speech advocating for several economic policy changes. In her address, she passionately defended the policies she attempted to implement during her controversial 45-day reign.

Truss acknowledged that she rushed to execute her plans, ultimately leading to their failure. She argued that her inability to deliver on her promises was due to opposition from the “political and economic establishment.”

Truss delivered the speech at an event organized by the Institute for Government think tank, nearly a year after her government introduced a mini-budget consisting of £45 billion in tax cuts and support for individuals struggling with surging energy bills.

These economic measures caused significant turmoil, resulting in Truss needing to reverse almost all of the proposed policies shortly thereafter. Subsequently, her premiership came to an end, with her resignation occurring less than a month after the mini-budget.

During her speech, Truss acknowledged the criticism that her administration faced for acting hastily, stating, “Some people said we were in too much of a rush. And it is certainly true that I didn’t just try to fatten the pig on market day – I tried to rear the pig and slaughter it as well. I confess to that.”

Truss justified her urgency by claiming that voters desired swift action. However, she admitted that communication and operation could have been improved, while also acknowledging the resistance and lack of preparation time she encountered.

Truss argued that her tax cuts were not unfunded as they would have generated increased revenue in the long run. In addition to reflecting on her time in office, she used her speech to call for the reinstatement of VAT-free shopping for tourists and the abolition of the windfall tax on oil and gas firms.

Furthermore, Truss advocated for reducing benefit increases and implementing stricter work requirements to address the rising welfare and pensions bill. She also proposed further raising the retirement age.

Following her departure from No 10, Truss has maintained a relatively low profile. However, she is currently writing a book titled “Ten Years to Save the West,” scheduled for publication in April, where she intends to share lessons from her time in government.

Truss is expected to make more public appearances in the coming year and is set to attend the Conservative Party conference in Manchester later this month.

Responding to her speech, the Liberal Democrat’s deputy leader Daisy Cooper criticized Truss’s economic growth proposals, comparing it to an arsonist giving a talk on fire safety. Conservative MP and former minister Damian Green commented on Truss’s absence from budget planning, highlighting his relief that she was not responsible for the current year’s budget.

In contrast, the Labour Party has called on the prime minister to reject Liz Truss’s resignation honours list, arguing that those who were responsible for the economic crash should not be rewarded.