london daniel pryor who lobbies for governments to shrink the state and cut taxes feels liz trusss brief disastrous spell as prime minister has killed off his dream of a lowtax deregulated british economy for at least a generation pryor who works at the adam smith institute in london laughs bitterly at the irony that truss who said on thursday she would resign was forced to abandon her libertarian economic policies by the same free markets she cherishes the adam smith institute and other think tanks which provided much of trusss inspiration had welcomed the plans she and kwasi kwarteng her once finance minister and political soulmate laid out on sept 23 just weeks later they say mistakes were made with the strategy not just poor communication but also the scale of the proposed tax cuts and fear the policies they have spent years advocating might now be buried for some time truss had the right policies at the wrong time pryor said referring to an economic backdrop marked by fastrising inflation and weak growth which make markets more sensitive to deficits and the scale of government borrowing i now expect the language of free markets and libertarianism to be consigned to scrap for quite some time i am sober and realistic about that he said i can briefly chuckle at the irony of what happened but it is also incredibly frustrating because then i remember that the uks growth prospects for the coming decade are pitifully lowtaking on the orthodoxy truss said on thursday she would resign after the economic chaos she unleashed forced a humiliating reversal of almost all of her freemarket agenda in a brief resignation statement truss said she had been elected to bring in low tax high growth but conceded she could not deliver that mandate a poll this week showed her conservative party which has dominated british politics since world war two would not even be the official opposition if a general election was held now truss had spent her summer campaign for the party leadership complaining about britains weak economic growth productivity and low pay since the 2008 global financial crisis recently it lost its place as the worlds fifthlargest economy to india her solution was to challenge economic orthodoxy and demand faster radical action to shake the economy out of its torpor truss and kwartengs pitch big tax cuts with the promise of deregulation to grasp what they called the benefits of brexit echoed policies of 1980s british and us leaders margaret thatcher and ronald reagan their thinking can be traced to their connections to britains freemarket think tanks which have advocated similar policies and also urged businesses and government to seize opportunities presented by leaving the european union a remainerturnedbrexit supporter truss founded a group of libertarian conservative lawmakers called the free enterprise group a year after she was elected to parliament in 2010 kwarteng was chairman of the rightwing freemarket bow group in 20056