Biden was part of the resistance that removed me from power, Truss says

Liz Truss delivers Margaret Thatcher's Freedom Lecture in Washington DC on Wednesday. Photo: J Scott Applewhite/AP

Liz Truss said that Joe Biden, the President of the United States, was engaged in a «coordinated resistance» that she blamed for ending her brief tenure as prime minister in a US speech intended to revive her economic and political agenda.

The former prime minister also lashed out at French President Emmanuel Macron and European Commission President Ursula von der Leyen for showing «weakness» during their meeting with Chinese Prime Minister Xi Jinping.

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Speaking at the Heritage Conference in Washington, D.C., Ms. Truss warned that a «new economic model» is gaining ground on both sides of the Atlantic, focused on «redistribution,» «stagnation,» and «penetrating a culture of wakefulness» into business.

She cited Mr Biden's Inflation Reduction Act, a $454 billion (£363.4 billion) flagship bill to address climate change, taxes and health care, as an example, saying the bill » encourage US industry to spend its time chasing rents.” /p>

She added: «It will also drive competitors out of the market, including companies in the United Kingdom.»

Ms. Truss responded to Biden's criticism of her tax cut policy. while in issue 10, saying «It's not a question for the US president, it's a question for the UK government, how best we can set tax rates that will benefit everyone in our country.»

Liz Truss responded to Joe Biden's criticism of her tax cut policy. Photo: Andrew Parsons/10 Downing Street

She criticized the OECD plans for a minimum corporate tax rate, first proposed by Mr. Biden. , stating «We want a UK-US trade deal, not a UK-US tax deal.»

The former prime minister acknowledged that her expulsion from Downing Street just 49 days after the failed mini-budget was a «major setback» but stressed that the point of her Wednesday speech was to «take on those who resist change.»

Reflecting on her brief tenure, she said she «simply underestimated the scope and depth of resistance» to her economic agenda.

She said, «We didn't just face coordinated resistance within To the Conservative Party or even within the British corporate establishment. We have come across this from the IMF and even from President Biden.”

Ms. Truss delivered the right-wing think tank Margaret Thatcher's annual lecture on freedom, in which she argued for «Anglo-American capitalism» while supporting the values ​​of privatization and limited government advocated by Thatcher and Ronald Reagan.

“Last fall, I had a serious setback. But I care too much to abandon this agenda,” she said. “And in the coming months, I will be pitching ideas on how together we can move this battle forward.” a week to urge Xi to “talk” Russia and help end the war in Ukraine.

She said: “I think it was a sign of weakness. That is why it is wrong for President Macron to say that Taiwan is simply not of direct interest to Europe. I don't agree with this. What we have seen is the West's reconciliation and appeasement of these authoritarian regimes.»

She warned of the immediate danger China poses to the world order, saying that «an invasion of Taiwan could happen before we expect.