Labour MP David Pinto-Duschinsky has called out newly appointed Shadow Chancellor Andrew Griffith over his role in Liz Truss’s economic programme, accusing the Conservatives of failing to learn the lessons of the 2022 market turmoil.
Griffith was promoted by Conservative leader Kemi Badenoch as part of a major Shadow Cabinet reshuffle, replacing Mel Stride and taking charge of the party’s economic policy.
Announcing his appointment, Griffith said it was a “huge honour” to become Shadow Chancellor for the party he joined as a teenager under Margaret Thatcher.
But Pinto-Duschinsky, the Labour MP for Hendon, was quick to challenge Griffith’s record in government.
Writing on X, he said:
“Hi @griffitha – you seem to have left out the bit where you drove the economy off a cliff, caused a market meltdown and sent interest rates soaring as a member of Liz Truss’ Treasury team.”
He added:
“Have you apologised yet to the millions you made poorer and the businesses you destroyed?”
Griffith was a prominent supporter of Truss during the 2022 Conservative leadership contest and later served as a Treasury minister during her short-lived premiership. He publicly defended the mini-Budget strategy as Financial Secretary to the Treasury.
His appointment has therefore reopened debate over the Conservatives’ economic record during the period surrounding the September 2022 mini-Budget, which was followed by severe market turbulence, rising government borrowing costs and sharp pressure on mortgage rates.
Pinto-Duschinsky’s intervention follows criticism from other Labour MPs who have questioned whether Griffith’s appointment represents a genuine change of direction for the Conservatives.
Torsten Bell has also highlighted Griffith’s support for Truss, describing him as one of her most prominent backers and arguing that the Conservatives had shown “no learning curve at all”.
Badenoch, however, has presented Griffith’s promotion as part of a renewed Conservative focus on economic growth, with the party expected to emphasise lower taxes, deregulation and a smaller state. Claire Coutinho has been promoted to Shadow Business Secretary as part of the same shake-up.
Labour MPs are likely to continue drawing a direct contrast between that approach and the Government’s focus on economic stability, investment and growth, as Chancellor John Healey sets out Labour’s economic case at home and abroad.
For Pinto-Duschinsky, the central issue is whether the Conservatives can credibly claim to offer a new economic direction while elevating a politician closely associated with the Truss era.
His intervention makes clear that Labour intends to keep the Conservatives’ recent economic record firmly at the centre of the political debate.
