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- Dołączył(a): 18 lut 2022, o 09:55
3 paź 2022, o 09:11
UK's Truss sticks by economic plan as her party worries
British Prime Minister Liz Truss said on Sunday (Oct 2) that she could have done a better job “laying the ground” for her package of unfunded tax cuts, but insisted she would push on with an economic plan that has caused turmoil on financial markets and weakened the country’s public finances.
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Truss acknowledged that the UK faces “a very turbulent and stormy time,” but said her policies would lead to a “high-growth, low-tax economy” in the longer term.
The comments are unlikely to calm Truss’ Conservative Party, which opens its four-day annual conference on Sunday in the central England city of Birmingham amid plunging poll ratings and growing public discontent.
Truss took office less than a month ago, promising to radically reshape Britain’s economy to end years of sluggish growth. But the government’s Sep 23 announcement of a stimulus package that includes £45 billion (US$50 billion) in tax cuts, to be paid for by government borrowing, sent the pound tumbling to a record low against the dollar.
The Bank of England was forced to intervene to prop up the bond market, and fears that the bank will soon hike interest rates caused mortgage lenders to withdraw their cheapest deals, causing turmoil for homebuyers.
“I have learned from that,” Truss told the BBC. “I will make sure in future we do a better job of laying the ground.”
Truss stuck to her insistence that Britain’s economic problems were part of a global spike in inflation and energy prices spurred by Russia’s invasion of Ukraine.
British Prime Minister Liz Truss said on Sunday (Oct 2) that she could have done a better job “laying the ground” for her package of unfunded tax cuts, but insisted she would push on with an economic plan that has caused turmoil on financial markets and weakened the country’s public finances.
ทดลองเล่นสล็อตฟรีxo To log in with Download Slots is the most up-to-date login.
Truss acknowledged that the UK faces “a very turbulent and stormy time,” but said her policies would lead to a “high-growth, low-tax economy” in the longer term.
The comments are unlikely to calm Truss’ Conservative Party, which opens its four-day annual conference on Sunday in the central England city of Birmingham amid plunging poll ratings and growing public discontent.
Truss took office less than a month ago, promising to radically reshape Britain’s economy to end years of sluggish growth. But the government’s Sep 23 announcement of a stimulus package that includes £45 billion (US$50 billion) in tax cuts, to be paid for by government borrowing, sent the pound tumbling to a record low against the dollar.
The Bank of England was forced to intervene to prop up the bond market, and fears that the bank will soon hike interest rates caused mortgage lenders to withdraw their cheapest deals, causing turmoil for homebuyers.
“I have learned from that,” Truss told the BBC. “I will make sure in future we do a better job of laying the ground.”
Truss stuck to her insistence that Britain’s economic problems were part of a global spike in inflation and energy prices spurred by Russia’s invasion of Ukraine.