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Liz Truss will renew her call for low taxes in a speech asking if Western nations are "fit to take on China." Britain's lowest prime minister will suggest that the 'Anglo-American' economic model of the 1980s, characterized by further privatization and limited government, is 'choked by stagnation' in the late stage of its return to the spotlight policy. The Conservative backbench, whose Downing Street tenure lasted just 49 days, will urge the UK and US to better promote "free markets" and "free speech" in the face of the "threat" of authoritarian regimes.
And we have to ask ourselves: are we still in a position to confront China and embrace the whole concept of state capitalism?
Ms Truss beat Rishi Sunak in last summer's Tory leadership race on a tax cut package before his nefarious economic plans scuttled her premiership, handing her the keys to No. 10.
Delivering the Margaret Thatcher Lecture for the right-wing Heritage Foundation think tank in the United States on Wednesday, he is expected to say: "It was Anglo-American individualism that made the world prosperous... Low taxes, limited government and private". company were the ones that won the Cold War. I'm afraid we now see this pattern strangled by stagnation.
“And we have to ask ourselves: are we still in a position to take on China and take on the whole concept of state capitalism?
She will add: “We have allowed our adversaries to own our institutions, clutter our campuses, and fill our airwaves.
"Not so long ago the US and UK were absolute bastions of free enterprise, free markets and free speech... But what we've seen now is self-flagellation: going after the very things that made us big".
The speech will accuse Western leaders meeting Chinese President Xi Jinping of showing "weakness."
It comes days after French President Emmanuel Macron and European Commission President Ursula von der Leyen met the Chinese leader as part of a show of European unity in relations with Beijing.
Ms Truss will also accuse a "cartel of convenience" of advocating higher taxes, as it takes aim at the world economic body, the Organization for Economic Co-operation and Development (OECD).
“Putin and Xi have made it clear that they are allies against Western capitalism. That is why Western leaders visiting President Xi to ask for his support in ending the war is wrong. And that is a mistake. Sign of weakness”, should Truss. say.
She must urge conservatives around the world to "mount a fight for freedom" and "wake up to the threat of authoritarian regimes and their unwitting allies in the anti-growth movement."
“Not content with high taxes in their own country, we now see governments seeking to accept high taxes in the free world.
"I'm talking about the OECD minimum tax deal, which will prevent countries from lowering things like corporate tax and becoming more competitive," he is expected to say.
The speech comes as the Prime Minister meets US President Joe Biden in Northern Ireland to mark the 25th anniversary of the Good Friday Agreement.
Ms Truss's recent comments on China, branded as "warmongering" by an ally, could fuel divisions within the Conservative Party.
Many are more eager to cut taxes in a hurry than Sunak is and take a more aggressive stance on China.
Truss was expected to officially label China a "threat" in official parlance rather than a "systemic competitor" during his tenure, while Sunak described the nation as a "systemic challenge" rather than a threat.
PA wire
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