Emily Maitlis reveals admission about Truss from Tory MP
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Liz Truss has issued a defiant three-point defence on her Government’s economic plan in an attempt to slap down critics. Following the fallout from her Chancellor, Kwasi Kwarteng’s tax cuts last week, commentators have repeatedly asked: “Where is the Prime Minister?”
In a three-pronged defence, the Tory leader said new tax cuts will boost investment, create jobs and produce fresh opportunities “for all”.
She wrote in a post on Twitter: “We are facing difficult economic times globally.
“We must put this country on a trajectory for long-term growth whilst maintaining fiscal discipline.
“That is what our Growth Plan will deliver.”
The Prime Minister added: “This government is taking action now to guarantee our long-term energy security and support people with their energy bills through this winter and the next.”
Her Government’s tax cut announcements triggered “nearly a week of chaos in financial markets”, according to Reuters.
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The pound fell to a record low after Mr Kwarteng unveiled £45billion of unfunded cuts, though some commentators point to other factors beyond these economic measures.
In a brutal first-month assessment, financial paper Bloomberg reported: “Truss has made the most turbulent debut of any British prime minister in peacetime.
“In just three weeks, her administration has been battered by a crisis of confidence in her policies that have triggered a collapse in the pound and a surge in borrowing costs that threaten to push the UK toward a deep recession and a housing market crash.”
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