Asked by opposition Labour Party leader Keir Starmer, “Why is she still here?” Liz Truss retorted: “I am a fighter and not a quitter. I have acted in the national interest to make…
LONDON — British Prime Minister Liz Truss described herself as “a fighter and not a quitter” Wednesday as she faced down a hostile opposition and fury from her own Conservative Party over her botched economic plan.
“Pretending we haven’t made mistakes, carrying on as if everyone can’t see that we have made them and hoping that things will magically come right is not serious politics,” she said. The plan’s 45 billion pounds in unfunded tax cuts sparked turmoil on financial markets, hammering the value of the pound and increasing the cost of U.K. government borrowing. The Bank of England was forced to intervene to prevent the crisis from spreading to the wider economy and putting pension funds at risk.
On Monday Hunt scrapped almost all of Truss’ tax cuts, along with her flagship energy policy and her promise of no public spending cuts. He said the government will need to save billions of pounds and there are “many difficult decisions” to be made before he sets out a medium-term fiscal plan on Oct. 31.
With opinion polls giving the Labour Party a large and growing lead, many Conservatives now believe their only hope of avoiding electoral oblivion is to replace Truss. But she insists she is not stepping down, and legislators are divided about how to get rid of her.
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