Liz Truss fails to acknowledge mistakes, blames market reaction
The PM has delivered her speech on her disastrous mini-budget. Liz Truss said she wants to deliver growth and for the UK to become a country where people can get good jobs, arguing that the UK has been held back. “I want to deliver a low tax, high growth economy”, she says.
The PM says she will keep the increase in corporation tax, which will raise £18bn in taxes for the country.
She says “we need to act now to reassure the markets of our fiscal discipline”.
Truss says she was sorry to lose Kwasi Kwarteng as chancellor but says Hunt “shares my vision”. She says Hunt will deliver the medium-term fiscal plan at the end of the month.
Truss only answered a few questions after the statement. She was asked about her credibility as prime minister, asked why she hasn’t resigned even though Kwarteng was sacked and asked if she would apologise.
She dodged most of the questions.
She didn’t appear to acknowledge any wrongdoing and instead blamed the market reaction.
She also only reversed one part of her mini-budget, meaning not much has really been done to calm the markets.