She blamed
the reaction not only on what she described as the left-leaning orthodoxy of the economic establishment but also on liability-driven investments (LDI), which pension funds use to cover their obligations. LDI's were at the centre of the market turmoil following her mini-budget.
The Bank of England building is reflected in a sign, London, Britain, on Dec. 16, 2021. (Reuters/Toby Melville)
Truss also said she had underestimated "the resistance inside the Conservative parliamentary party to move to a lower-tax, less-regulated economy" and a drive on the global stage to "limit competition" between major economies.
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