to her radical tax-cutting programme and was never given a “realistic chance” by both her party and a “powerful economic establishment”.
However, this was “not in line with the instinctive views of the Treasury or the wider orthodox economic system”, according to her.
“Regrettably, the Government became a useful scapegoat for problems that had been brewing over a number of months.” In her overall package of measures, introduced in the mini-budget on 23 September, she said the reduction of the top rate of income tax was “little more than a rounding error, equivalent to 0.2 per cent of government spending”.“I knew when I proceeded swiftly with my economic growth policy that there was a risk to my position”, she said, “But I believed that the biggest risk for the country would have been to do nothing.
“No matter how uncertain the outcome and how tough the prospect of leading a fractious party at a difficult time – and my husband warned me that it would be awful – I could not duck the challenge”, she said. She said she had “lost track” of the number of people who had contacted her since leaving Downing Street to say they “believe my diagnosis of the problems causing our country’s economic lethargy was correct” and shared enthusiasm for her planned solutions.
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