Truss has admitted the mini-budget is causing “disruption” for the first time, but insists that she has a “clear plan” 💬 “I recognise there has been disruption but it was really, really important we were able to get help to families as soon as possible”
is causing “disruption” for the first time, but insists that she has a “clear plan” for the country’s economy.
“This is going to be a difficult winter and I am determined to do all I can to help families and help the economy at this time.”newspaper, Ms Truss said “short-term disruption” is necessary to return to “sound money” despite fears her borrowing plans are out of control. The sell-off of sterling prompted fears that millions of mortgage holders could face crippling rises in their repayments as the Bank moves to ratchet up interest rates to shore up the currency and put a lid on inflation., the Chancellor insisted he will produce a “credible plan” to get the public finances back on track with a “commitment to spending discipline”.
The turmoil erupted after markets took fright at Mr Kwarteng’s £45 billion package of unfunded tax cuts – the biggest in 50 years – while committing billions to capping energy bills for the next two years.hitherto unthinkable 33-point leadDespite having been in Downing Street for less than a month, some have questioned whether Ms Truss can now survive to the end of the year as the party has seen its reputation on the economy shredded.
With some analysts warning of a squeeze on public spending to get debt under control, the Prime Minister again refused to commit to the annual uprating of benefits in line with inflation – something Rishi Sunak had promised to do when he was chancellor. She added: “What is important to me is that we are fair in the decisions we make, but most importantly that we help families and businesses at this very difficult time with their energy prices.”
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