Liz Truss can turn this all around by bringing the Budget forward and reassuring her ministers 🔵 annemcelvoy for ipaperviews
Liz Truss needs to explain with more precision why tax cuts now can stimulate growth
The new Prime Minister reminds me of the cartoon of a man standing on a howling edge of a cliff confidently declaring that “this is the time for a great step forward”.
In some ways, he is right. Public services have for too long been funded by beggar-thy-neighbour raids on other department’s budgets . Growth simplytoo persistently low and productivity too sluggish to keep the UK competitive. Brexit trade tensions have certainly not helped and the unforced Truss error ofduring the leadership contest has damaged her chances of re-setting relations to address the Northern Ireland Protocol stand-off.
The problem with the approach of Truss and her Chancellor Kwasi Kwarteng, is that the remedies they propose imply a timeline of benefits which are hard to accept without a wing and a prayer. For that reason, if they won’t change their fundamental philosophy about tax cuts while the borrowing ceiling has been hit with a bang, as the markets sound alarm about the cost and long-term impact, they most certainly need to change their methodology and way of presenting the brave new world to voters.
Mistaking “purpose” with rigidity is the first improvement point. Truss effectively admitted this yesterday, telling the BBC’s Laura Kuenssberg, “I do accept we should have laid the ground better”. In truth, the ground was not even tilled for her own Cabinet and one reason there is such horror at having to defend the top-end tax cut is that ministers and MPs were left clueless about why it was happening., is not really on.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prime Minister Liz Truss defends economic strategy despite fiscal chaos after mini-budgetThe prime minister continues to insist her government has taken the right action to tackle inflation, inspire growth and see off large energy bills.
Read more »
Liz Truss admits 'disruption' to UK economy but stands by forecast-free mini-budgetThe prime minister defends the decision to present last week's mini-budget without an accompanying forecast from the Office for Budget Responsibility (OBR) due to the need to respond rapidly to rising energy prices.
Read more »
Liz Truss refuses to say whether autumn benefits rise will go aheadThe Prime Minister has admitted the Chancellor's mini-budget caused 'disruption' ahead of a 'difficult winter'.
Read more »
Truss and Kwarteng press on with tax cuts after talks with finance chiefsLIZ Truss and Kwasi Kwarteng are pressing on with their tax cuts after holding urgent talks today with finance gurus to calm market jitters. The PM and Chancellor agreed to “work closely̶…
Read more »
Ian Hislop has The One Show producers on edge with cheeky Liz Truss jokeIan had the whole studio on edge when he chimed in with a dig at the PM 😅
Read more »