Thread by @althecat

We've reached the "rats in a sack" phase of this new #LizTruss UK Financial meltdown row. The 45% tax rate decision has been canned - and now it looks as if @KwasiKwarteng's deputy @CPhilpOfficial is the designated scapegoat.

Clearly someone had briefed against @CPhilpOfficial for this ^^ interview - suggesting that the idea of the cut to the tax rate had been presented to new PM @TrussLiz during her leadership campaign.

For her part @TrussLiz herself is saying that "it wasn't her idea".

This seems a little vague. When it comes to ideas which are likely to assist one get seelected as a PM replacement among a group of 160,000 of well healed @Conservatives members, cutting their tax rate is definitely a "good idea".

And while perhaps the origin of the idea came was Chris Philps, clearly it was embraced by PM @TrussLiz and Chancellor @KwasiKwarteng, and their apparent reluctance to reverse the decision in the face of a catastrophe, suggests there was a reason to hold on to it.

Given that it wasn't a public campaign committment - as far as I am aware - during her leadership bid, one can't help but wonder now if it was a private one. The reneging on which may now have some blowback from wealthy donors.

Finally: @NickRobinson's interview with @KwasiKwarteng this morning is a must listen LINK >> (jump forward to 8.10am - 2 hours 10 minutes in. bbc.co.uk/sounds/play/m0…

One might say that Kwarteng gets a right slapping.

Fault deflection is an obvious course of action in circumstances such as this. But their problem is that removal of this tax cut doesn't really resolve the underlying issue - namely that interest rates have now spiked - threatening the livelihoods and aspirations of millions.

And to be fair to the now beleaguered chief sectretary to the Treasury @CPhilpOfficial, he's not really the one to blame for this, even if it was his idea. Unless we can (and one might) blame him for getting @TrussLiz elected.

/ENDS

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