Former British Prime Minister Liz Truss talks about her time as Prime Minister and how she became the first woman to become Prime Minister of the United Kingdom. She also talks about why she decided to stand for election as Labour's first female candidate and why she won the election.
00:01:39.960I think, if you look at the run-up to the leadership election, there was a group of conservative MPs who were determined to get Boris Johnson out of office.
00:03:32.680So when the Bank of England turned on me and essentially blamed me for their failings, what I found was the mainstream media conservative MPs were very happy to join in that chorus rather than back me up.
00:04:35.060Can we just look at what we're doing and just stop for a second?
00:04:40.700Is there, I mean, you've called England a failed state.
00:04:45.540It's profoundly, you know, it was profoundly undemocratic what happened.
00:04:49.820Because this is about somebody who was not elected, the governor of the Bank of England, blaming me, using the apparatus of the state to undermine me in collaboration with other officials across the government.
00:05:06.720There was constant leaking, constant briefing.
00:05:10.080The mainstream media were used to put pressure on me.
00:05:14.240So if you look at what's happened since under this Labour government, bond rates are higher under Rachel Reeves than they were under me.
00:05:25.040So all of the things that happened in my tenure in office have happened to a much worse extent under this Labour government.
00:05:32.660But none of the people are kicking off.
00:05:51.540But the Treasury and the Office of Budget Responsibility, which is like our version of the CBO, the Congressional Budget Office,
00:06:00.260they predicted that if she raised taxes, more revenue would come in.
00:06:05.960But surprise, surprise, the Laffer curve tells us that if you raise taxes too much, the revenues don't come in.
00:06:12.280And that is exactly what is happening.
00:06:14.400It's what I predicted back in 2022, that if you raise taxes too much, people leave the country, businesses leave the country, people don't invest.
00:06:23.660And we now have the fastest rate of millionaires leaving Britain of any country in the world apart from China.
00:06:30.820You know, people are deserting our country.
00:06:34.460We've seen the last steel plant that produced steel from scratch close down because our energy prices are so high.
00:06:41.540So all of the things I was trying to change are now, you know, the chickens are coming home to roost.
00:08:29.600And I think it's been a blessing for America that he lost in 2020 because it gave us four years of seeing, oh, my, it's even worse than we thought it was.
00:08:39.940And it gave him time to back out and go, okay, I really want to assemble a team that I can trust and plan and then execute it.
00:08:54.180So when you go in and you are – you're elected, you walk in to 10 Downing, what did you think you would find and what did you find?
00:09:07.160Well, in some ways I should have known better because I'd been a government minister for 10 years.
00:09:11.960So I'd had all those battles in every department I was in, the environmentalist nutters in the environment department, the human rights lawyers in the justice department.
00:09:23.060So I should have known that the bureaucracy was not on our side.
00:09:27.140But I always thought that it was because I was relatively junior and that there were instructions in some way coming from the prime minister and his team.
00:09:37.580I sort of assumed that what I was experiencing was a political direction that Boris Johnson or Theresa May or David Cameron was imposing.
00:09:52.960When I got to number 10 and I saw the way that the bureaucracy behaved, and the first thing we did was we got rid of the Permanent Secretary to the Treasury, Tom Scholar.
00:10:09.120And this is a bureaucrat who'd been there under Gordon Brown time.
00:10:12.780He'd presided over the stagnation of the British economy.
00:10:38.500Within half an hour of me saying something, it would be in the press.
00:10:43.500So, what I discovered, and then when we moved forward with the mini budget, which was getting on with fracking, keeping taxes low, making it easier to build, all the things that would get the British economy going.
00:10:57.780We then faced this Bank of England blaming me for the market crisis, which they'd caused by failing to regulate the pension industry.
00:11:08.540And they essentially forced me to reverse those measures.
00:11:12.700And they said that if I didn't reverse those measures, there would be a debt crisis in Britain.
00:11:21.960We would not be able to fund our debt.
00:11:33.840And the same people who say net zero, you know, all of these green rules are going to help our economy when they're absolutely destroying the economy.
00:11:44.560But the point is, the threat they made to me was credible, because I'd seen the way they were able to orchestrate the markets being concerned.
00:11:55.860They were able to amplify that in the media.
00:12:00.900They were using international figures.
00:12:03.660I mean, Joe Biden criticized my budget.
00:12:49.220And they were, you know, amplifying all of these messages.
00:12:53.020So when I was threatened with the fact that I could be in the position that essentially the Labour government were in the 1970s when they had to go to the IMF cap and hand, I believed them because it was a credible threat.
00:13:06.960So how much influence, how much of that is coming from the World Economic Forum?
00:13:16.220Because it seems like that is, you know.
00:14:30.640But those people do not fundamentally believe that.
00:14:33.000So I want to come back to the new prime minister of Canada here in a minute.
00:14:38.640But when you look at that system, I recently have wondered a couple of things.
00:14:51.900When J.D. Vance comes over to Europe and gives a speech about freedom of speech, having some control over your borders, et cetera, et cetera,
00:15:02.680all things that at any other time in world history, everybody go, you know, that's common sense, not with hatred or anything else.
00:15:10.280Just I don't I I'm proud of my country.
00:15:14.480That doesn't mean I think it's the greatest country, you know, and we've got to beat everybody else down.
00:16:03.340This doesn't end well for Europe and maybe England, it wouldn't have ended well for us if we wouldn't have had this this opportunity to reset with Trump.
00:16:14.980I'm not sure five years from now, we would have been a United States because you can only ignore and abuse the population and lie to them over and over again.
00:17:01.900They voted for Boris in 2019 because they wanted control of our borders, because they were proud of our country, because they wanted to control their own lives.
00:17:14.300You know, they voted against the Brussels bureaucrats.
00:17:17.460I mean, the problem is they were replaced with British bureaucrats.
00:17:39.260And if you look at Britain, all of Trump's policies poll positively, deporting illegal immigrants, cutting taxes, getting on with fracking and using our natural resources.
00:17:57.600The issue is that when people vote, they can't elect somebody who puts forward those policies.
00:18:06.500But I see hope because I see what's happened in the United States.
00:18:11.240I see what's happened with Javier Malay in Argentina.
00:18:14.320It shows me that there can be a popular movement that takes on the blob, the deep state and succeeds.
00:18:26.140And, you know, we're obviously in the early days of the Trump administration, but the direction is very positive and doge is being effective and real change is taking place.
00:30:14.940Because in America, we got to a point to where you can be incompetent, but you can't be incompetent and have it fall against the interest of the country and stability every single time.
00:30:33.600Once in a while, it's got to be like, oh, well, that one's in our favor if you're incompetent.
00:30:36.960We got to a place in America where you're like, I can't explain this anymore.
00:30:42.140You have, you know, for instance, our immigration problems, but our immigration problems, as big as the numbers are, it's still not the kind of immigration problem that you have and you're getting everything from the Middle East.
00:30:54.320And you can't reasonably look at that and then look at the leadership of Europe and England and say, well, no, they have their heart in the right place.
00:31:24.480Why are the Islamists on the same side as the transgender ideologues?
00:31:30.020You know, it doesn't make any sense when they are concerned about gay people, whereas, you know, the transgender ideologues want to promote transgender rights.
00:32:52.660There's a lot of people who just go along with it to get along.
00:32:56.340And, you know, the amount of times when I fought these battles, whether it was fighting transgender ideology, whether it was fighting net zeroes.
00:33:05.640And people would just say, Liz, you're on the wrong side of history, you know, get with a program.
00:33:19.800We're not on the wrong side of history here.
00:33:22.040But that was the there was a lot of people.
00:33:24.280And that's true in the corporate sector as well.
00:33:27.440Or in the police service, who would just go along because it was fashionable.
00:33:31.600But there is a there is an ideological heart to this movement, which started in the universities and expanded, you know, into this global network.
00:33:41.760And the issue is that those people themselves aren't affected by the consequences of their policies because they're working for the government.
00:33:50.860They're paid by a very rich NGO, which is funded by USAID.
00:33:57.120They're part of the system and they benefit from the system.
00:34:00.640And look, you know, people like Mark Carney has made a huge amount of money out of it.
00:34:06.200You know, so have people like Bill Gates.
00:34:09.860You know, it's all part of the same ecosystem.
00:34:13.360You track it down no matter where you are in the world.
00:34:16.080It's the ordinary people in countries like Britain who see their industries decline, who are seeing their towns getting worse and worse,
00:34:24.580who find it harder and harder to own property, who find it harder and harder to get opportunities.
00:34:31.740Those are the people that are suffering.
00:34:33.200But they're not the people with a voice because, you know, we talked about control of the mainstream media,
00:34:39.760control of the senior heights of the state and the bureaucracy.
00:34:44.140Those are the people that are part of the system.
00:34:47.000So this is now in all of our countries.
00:34:50.040It's not a conservative versus liberal debate.
00:35:06.240But the establishment is now left wing.
00:35:08.060And this is what so many conservatives don't understand, that it used to be that, you know, doctors, teachers, senior government officials were conservative.
00:35:20.940They wanted to protect our way of life.
00:36:28.820And if you can't give me the Bill of Rights, then we have nothing in common.
00:36:34.660And our vice president was over in Europe, and you had the foreign, I think it was the foreign secretary in Germany, cry that America, because J.D. Vance spoke about the freedom of speech, the foreign secretary of Germany stands up crying.
00:36:56.200But crying and saying, you know, I guess we just don't have in common what we used to.
00:37:02.900To me, that says, I don't know how to view you as an ally anymore.
00:37:10.560If we don't have freedom of speech, you know, if we don't have these basic principles in common, how long can we be allies?
00:37:23.340The thing to know about Europe, though, is it is currently being run by socialists.
00:37:29.500So you've got a socialist government in Britain, a socialist government in France.
00:37:35.660You're still going to have the socialists in a coalition in Germany, because even though people voted right, because the CDU won't do a deal with the AFD, you're still going to have the socialists in government.
00:37:52.420And that's what America used to be like last year.
00:37:55.180But there was a time where socialists, maybe we all just pretended or closed our eyes, that even socialists, we could disagree with Democrats or socialists and say, you know, you just want a bigger health care system.
00:40:50.380I will go back to J.D. Barnes and say, you know, we need to bill you for the damage you have caused with this dubious ideology.
00:40:57.860I will tell you that that's the one thing I think that has been really good out of this is I think conservatives here in America have been willing to say,
00:41:12.040at least to some degree, not to the insane degree, but to say, wow, you know what, we've really done some bad things.
00:41:21.220We've really I mean, our progressivism and eugenics.
00:41:25.040I mean, you guys were involved in that, too.
00:41:26.720But America is the one that shipped it over to Germany and then they took it.
00:41:30.300And then we shipped all those people with Operation Paperclip back here.
00:41:34.320I mean, we've been a source of some really bad things.
00:41:37.660And in this case, I can't believe how we've led the way and this transgenderism.
00:41:44.680When Sweden and France, we're always told we should be more like Sweden for the first time in my life.
00:42:38.960And it's terrifying how many people who are funded, honestly, by insurance companies and scams that are trying to convince you to get into a plan that is most likely wrong for you.
00:42:55.860But you don't know because it's the the the the politicians have made everything so complex.
00:43:02.600Lex, please, I want you to check out Chapter.
00:45:49.040The same is true of France and Germany and to some extent of Canada, because they pursued all of these woke policies.
00:45:57.780High taxes, high spending, not using their natural resources.
00:46:03.280And Justin Trudeau was the architect of that.
00:46:05.740And, of course, Mark Carney has been the advocate of these policies.
00:46:10.660So I don't know what is going on in Canada.
00:46:13.600But in the same way as I think people in Britain need to wake up to what the real threat to our country is, I think they need to wake up in Canada.
00:46:22.600You know, Trump's one of the best negotiators in the world.
00:47:41.240They have things like 230% on their dairy.
00:47:44.420So they are very protectionist of their own industry.
00:47:47.660And where I think Trump has got a point, and I know more about the European situation, the Canadian situation, is that there can no longer be a situation where other countries free ride off the United States.
00:48:38.620Do you think that there's anybody in Europe that really understands that what Trump is really saying is our policies of being involved in everybody else's business has not been working out well for America a lot of the times?
00:48:59.820Well, that you've been involving yourselves in other people's business in a bad way by funding stuff for USAID.
00:49:08.620That's why I think Trump is like, get rid of all that.
00:49:11.980Because all of this, whether we're doing it through our USAID or we're doing it with our military, you know, 30 years ago, I used to believe that, yes, we should stand up and we can help plant democracy.
00:51:23.900But the major threat to the world is China, who are allying themselves with Iran, allying themselves with Russia.
00:51:31.620And that is what we collectively have to take on.
00:51:36.320But we need to do it as nation states.
00:51:38.380And the problem with all of these organisations, like the United Nations and like the sort of the global aid industry that's developed and has been so opaque.
00:52:23.740And I think, I'm hoping that the rest of the world, and even America, begins to understand what Trump is doing
00:52:33.580is disrupting the entire system that was put together after World War II.
00:52:42.200It worked for a while, but it's no longer, none of this works.
00:52:49.140And if we want to survive, we all have to stand on our own two feet.
00:52:53.620And I don't, I mean, I saw COVID, you saw COVID.
00:52:58.120Here in America, when you'd walk into a store a year into it, and you'd say, hey, I want to get, and they'd say, that'll be probably six months before.
00:53:07.080No American, at least my age and below, had ever seen shortages.
00:53:14.540And that's when it dawned on us, we are in danger because everything's coming from China now.
00:53:23.120And they're going to be our number one enemy.
00:53:50.200And becoming a welfare state that is subsidized by others.
00:53:56.940That's not, that's not the future for our country.
00:54:00.040So if you feel that there are Europeans and British citizens who understand this, they are, they are, they've had enough and they're, they're, they're still kind of a little afraid.
00:54:15.640Who, who do you have that is in the ranks that, I mean, Trump is the first president in maybe a hundred years that is going to leave office much more poor than he entered office.
00:54:50.380Who do you see rising up that, that, that people can rally around and that can connect over in Europe?
00:54:58.940Because I'm not, that's what my hope was with you.
00:55:01.800I think it's worth, it's worth understanding that people are frustrated, they're angry, they hate what's happening, but they don't yet fully understand why it's happening.
00:59:04.560I've spent a lot of time telling people that stuff is not true.
00:59:08.480And I don't know the answer to that question about what is true, about what's said about the AFD, and what isn't true.
00:59:17.340What I know is that people in Germany are hugely frustrated, and they're basically getting more of the same at every election, which is exactly the same as happening in Britain.
01:00:00.580That's a little frightening that you don't know for sure what to think of that party.
01:00:07.740Because, you know, here in America, I know I love, I've been, you know, 2008, I'm at Fox, and I'm kind of discovering these networks and everything else because nothing made sense anymore.
01:00:25.200And it's that ability to question, and it's that ability to question and even be wrong at times, but question and educate society.
01:00:34.900When you can't have an honest dialogue about what does this party really mean, are they good, are they bad?