Former UK Prime Minister sees economy on 'very negative trajectory,' indicates support for bitcoin

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Former UK Prime Minister sees economy on 'very negative trajectory,' indicates support for bitcoin Truss criticized central banking and defended her mini-budget, suggesting bitcoin and a CPAC UK conference could help push for economic reform. What to know: - Liz Truss said the U.K. is “getting relatively poorer, very quickly,” blaming high taxes, regulation and weak incentives for growth. - She linked inflation and inequality to “debasement of our currency,” calling the lack of debate on monetary policy “quite sinister.” - Now outside government, she is backing bitcoin and launching CPAC UK to build a “sovereignty and liberty” movement. Liz Truss, the U.K.'s shortest-serving prime minister, said the country's economy has been stagnating for decades and many of the problems result from a lack of sound money and the debasement of the currency, an erosion in the value of sterling caused by inflation and the printing of new banknotes. Truss, who led a Conservative government for 45 days in 2022, said the financial situation strengthened her interest in bitcoin “A lot of the problems we have are due to debasement of our currency and lack of sound money,” Truss said in an interview with CoinDesk. The absence of serious debate around money in academia and government had become “quite sinister,” and discussions about monetary policy had become “a taboo” within government, despite its central role in driving economic outcomes. For Truss, bitcoin sits alongside a wider concern about centralization and control. She warned the current system is geared toward increasing “centralized control” and limiting financial independence, particularly through regulation and taxation, and positioned bitcoin as part of a pushback against that trend. The economy is on a “very negative trajectory,” she said, warning the country faces long-term decline driven by weak growth, rising state control and what she sees as a failure of monetary policy. “We are getting relatively poorer, very quickly,” she said, pointing to high taxes, regulation and energy costs that make “the risk often not worth the reward” for entrepreneurs. “There’s a massive disincentive to work in this country.” Reflecting on the fallout from Chancellor Kwasi Kwarteng's 2022 mini-budget that characterized her premiership, she maintained the resulting market turmoil exposed hidden fragilities rather than caused them. “There was a tinderbox in the system that people didn’t know about,” she said, pointing to leveraged pension strategies. CPAC UK Now outside government, Truss is focused on building a political movement, including CPAC UK, a three-day conference aimed at bringing together activists, entrepreneurs and voices from across the “sovereignty and liberty” movement. “We need a movement of people who understand what the problem is,” she said. Framing the stakes bluntly, she added: “There are two choices, either we’re finished or we change it.” More For You One of the biggest short liquidations 2026 wiped $593 million in bearish bets overnight. Saturday afternoon as Iran reportedly reversed the Hormuz reopening. What to know: - Bitcoin surged above $78,000 in a sharp short squeeze after Iran declared the Strait of Hormuz fully open and Donald Trump claimed Tehran agreed to an unlimited suspension of its nuclear program. - The rally triggered about $762 million in crypto liquidations, mostly from short positions, with bitcoin accounting for roughly...

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