BIRMINGHAM, England (Reuters) – British Prime Minister Truss restated his “growth plan” on Thursday, but said he should have done more “paving”. He acknowledged his response was a bit hasty. I responded to the BBC interview in Birmingham, the venue of the ruling Conservative Party convention which started on this day.
The series of economic policies announced by the Truss administration on the 23rd were not supported by concrete financial resources, causing turmoil in the market, causing the pound/dollar to temporarily hit a new low, and British bonds to plummet. criticized by investors and many economists.
Mr Truss emphasized that the policy was in the right direction, but suggested that it did not adequately explain the depth of the problems facing the UK and the urgent need for drastic measures.
Ahead of the 2024 general election, Truss has pushed for cuts to the public services budget, refusing to expand the welfare budget to fight inflation, while supporting tax cuts for the rich. Voices are also raising concerns about showing
“I understand their concerns about what happened this week,” Truss said when asked if he would do anything to mitigate the negative impact of the policies on mortgage borrowers. He showed a caring attitude.
However, despite the fact that it has only been in power for a short time, it was clear at the party convention that the government is already under severe public scrutiny. When the Minister for Business, Energy and Industrial Strategy, Jacob Reesmog, arrived at the scene, more than a dozen people shouted “Don’t come here” and the police had to escort them away.
Former cabinet minister Michael Gove has strongly criticized plans to abolish the highest income tax bracket. “It will be very difficult to justify the argument that it is right to cut the welfare budget while cutting taxes for the rich,” he said.
