Former UK Prime Minister Warns of Economic Downturn, Expresses Support for Bitcoin

The UK's former Prime Minister, Liz Truss, has stated that the country's economy has been stagnant for decades, attributing many of its problems to a lack of sound monetary policy and the devaluation of its currency due to inflation and excessive money printing. Truss, who held office for 45 days in 2022, expressed her interest in bitcoin, which she believes can help mitigate the effects of currency devaluation. She first encountered bitcoin during her time at the Treasury, where she mentioned it to 'stir things up.' Truss served as Chief Secretary to the Treasury from 2017 to 2019. In an interview with CoinDesk, Truss emphasized that the UK's economic woes are largely due to the devaluation of its currency and the absence of sound monetary policy. She criticized the lack of meaningful debate around monetary policy in academia and government, calling it 'sinister.' Truss views bitcoin as part of a broader movement against centralization and control, warning that the current system is designed to increase centralized control and limit financial independence through regulation and taxation. She believes the UK is on a 'very negative economic trajectory,' driven by weak growth, rising state control, and poor monetary policy. Truss pointed to high taxes, regulation, and energy costs as major disincentives for entrepreneurs, stating that 'the risk often outweighs the reward' in the UK. Reflecting on the controversy surrounding the 2022 mini-budget, Truss argued that the resulting market turmoil exposed underlying vulnerabilities rather than causing them. She is now focused on building a political movement, including the CPAC UK conference, which aims to bring together activists, entrepreneurs, and proponents of the 'sovereignty and liberty' movement. Truss emphasized the need for a movement that understands the problems facing the UK, framing the stakes as a choice between decline and reform.