“With UK borrowing costs at a 27 year high, I sit down for an extended conversation with Fmr UK Prime Minister Liz Truss later today,” posted Sky News presenter Wilfred Frost on X today. “We’ll have it for you tomorrow morning on the podcast – link to subscribe below – and on @SkyNews Breakfast.”
And what a coup that is! As the PM whose calamitous 2022 mini-budget caused UK borrowing costs to surge due to its unfunded tax cuts, leading to a period of high volatility and market distrust – and with borrowing still elevated compared to other G7 nations, with the gilt yield hitting 16-year highs earlier this year – few are better placed to offer an insight than Britain’s shortest-serving leader.
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Truss’s £45bn in unfunded tax cuts pushed up UK government borrowing costs and led to severe convulsions in the bond market, the mortgage market and the pensions industry – all at the same time. She now spends her days detailing how it was nothing to do with her to crackpot US podcasters and, in this case at least, a credulous British broadcaster.
Frost is, of course, the son of Sir David, the legendary TV interviewer who knew a thing or two about satire. Perhaps Wilfred is following in his footsteps – or maybe he thinks a Frost/Truss film might follow in a few decades’ time?
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