Tory donor and Phones4U boss John Caudwell backs Liz Truss to be next PM as he lays into Rishi Sunak’s handling of the economy and claims: ‘He completely screwed it up’
- Phones4U founder John Caudwell has thrown his weight behind Liz Truss
- Billionaire Tory donor laid into Rishi Sunak’s handling of the economy
- He claimed: ‘The former Chancellor completely screwed it up’
Billionaire philanthropist and Phones4U founder John Caudwell has thrown his weight behind Liz Truss to be the next Prime Minister – and condemned Rishi Sunak’s handling of the economy as ‘an utter mess’.
The outspoken Tory donor said the Treasury had underestimated the impact of the pandemic in the early stages, fuelled inflation through generous Covid support schemes and failed to grow the economy.
He said he chose Truss ‘on balance’, adding: ‘I haven’t see Liz do too much wrong, so, probably give her a chance to show she can really perform.’
Billionaire philanthropist and Phones4U founder John Caudwell has thrown his weight behind Liz Truss to be the next Prime Minister
He said he chose Truss ‘on balance’, adding: ‘I haven’t see Liz do too much wrong, so, probably give her a chance to show she can really perform’
Caudwell said he would not support Sunak because ‘he’s made a complete and utter mess of the economy’, adding: ‘Everything I’ve seen Rishi do has been bad and wrong.’
He said Covid measures to keep the economy going had spurred demand and sent the price of goods higher.
At an event hosted by entrepreneur networking group E2Exchange in London, Caudwell said: ‘He completely screwed it up. He made an absolute fiasco and it’s what’s led to inflation today. He’s put us in a hell of a mess and he’s done nothing whatsoever to grow Britain’s GDP.
‘All he’s done is grow inflation and put money in people’s pockets. People have rushed out to buy and inflation has gone through the roof.’
The outspoken Tory donor said the Treasury had underestimated the impact of the pandemic in the early stages
Caudwell said he wanted Truss to persuade foreign firms to invest more money here, but added that ‘tax breaks’ were not the answer.
The billionaire predicted in December that Boris Johnson may lose grip on his leadership after ‘Partygate’.
Caudwell also criticised the candidates to be the next PM for failing to address climate change. Truss has said she would cut green levies.
He said: ‘It’s an absolute disaster. To not have climate change in your manifesto or leadership statement, or even worse to say, ‘We can just save a bit of money on that’ is preposterous.’
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