Liz Truss News

The PM apologises for mistakes, after her chancellor tears up almost all of her tax-cutting agenda.

"I do think it is the mark of an honest politician who does say 'yes, I've made a mistake. I've addressed that mistake. "It would have been completely irresponsible for me not to act in the national interest in the way I have." In her interview, Ms Truss said she accepted responsibility for going "too far, too fast" - and she wanted to "say sorry for the mistakes that have been made". Liz Truss told the BBC's Chris Mason she was "sorry for the mistakes that have been made". "I remain committed to the vision, but we will have to deliver that in a different way," she said.

Prime minister says she stands by her economic philosophy but says she is sorry for going too fast.

But I recognise we did act too far and too fast and I’ve made the necessary adjustments to that.” [Terms of use,](https://www.independent.co.uk/service/user-policies-a6184151.html) [Cookie policy](https://www.independent.co.uk/service/cookie-policy-a6184186.html) and [Privacy notice.](https://www.independent.co.uk/service/privacy-policy-a6184181.html) [Privacy policy](https://policies.google.com/privacy?hl=en) and [Terms of service](https://policies.google.com/terms?hl=en) apply. “We simply cannot afford to spend our time talking about the Conservative Party, rather than what we need to deliver. “We’ve got rising interest rates across the world. “Now, I do believe we need to get things in Britain moving faster, to help grow our economy. This site is protected by reCAPTCHA and the Google By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our “I’m committed to a low tax high growth economy, but I have to reflect the real issues we face and my responsibility as prime minister is making sure that we have economic stability, that we protect people’s jobs.” We’ve got the war in Ukraine, perpetrated by Putin and what we had to do, and what I had to take the decision as prime minister to do, is make sure we acted to protect economic stability. Ms Truss told her interviewer that she wanted to “accept responsibility and say sorry, for the mistakes that have been made”. But asked whether she would lead the Tories into the next general election, Ms Truss was emphatic and said: “I will lead the Conservatives into the next general election.”

Five Tory MPs have publically called for her to resign after her former Chancellor's disastrous mini-Budget caused widespread market turmoil. Ms Truss swerved a ...

Ms Truss said the Government was taking action to “chart a new course for growth that supports and delivers for people across the United Kingdom”. Mr Hunt’s statement on Monday morning, fleshed out with more detail in the Commons with Ms Truss watching on, sounded the final death knell for the Prime Minister’s free market experiment – dubbed “Trussonomics” – to kick-start economic growth through a programme of swingeing tax cuts and radical de-regulation. The Government had already abandoned plans to scrap the 45p rate of income tax for top earners and had U-turned over a promise not to increase corporation tax. He told journalists following a meeting of the One Nation group of Conservative MPs: “Some of the errors have been schoolboyish, some of the errors have been unforced, some of the wounds have been self-inflicted. – Ditched a 1.25 percentage point cut in dividend tax planned for April, worth around £1 billion a year to the Exchequer. [iz Truss](/topic/liz-truss) held a crunch meeting at [No10](/topic/no10) with members of her [Cabinet](/topic/cabinet) as she tried to cling to power on Monday evening.

The premier watched on in the House of Commons as Chancellor of the Exchequer Jeremy Hunt, the former leadership rival she installed to rescue her premiership, ...

23 “Growth Plan.” She later apologized for her mistakes in a BBC television interview. UK Prime Minister Liz Truss was clinging to power on Monday after suffering the abject humiliation of being forced to U-Turn on much of the economic program she announced only last month. The premier watched on in the House of Commons as Chancellor of the Exchequer Jeremy Hunt, the former leadership rival she installed to rescue her premiership,

New chancellor tells Commons there will be tax rises and spending cuts, as PM dodges urgent question.

The yield on 30-year gilts fell by 0.4 percentage points to 4.37%, reversing some of the increase since Kwasi Kwarteng announced Mordaunt said the prime minister was not in hiding. “That means decisions of eye-watering difficulty,” he said. That is my message to my colleagues.” One member of the 1922 executive said the group could take action this week, either by changing the rules or sending Brady to tell Truss it was over. Truss declined to appear at the dispatch box in parliament on Monday despite calls from Labour, leading one cabinet minister to clarify she was not “hiding under a desk”. “I am not against the principle of taxing profits that are genuine windfalls,” he told the Commons. In her BBC interview, Truss said she intended to stay on as prime minister. And now we need to deliver for people what we’ve said we’ll deliver. “I’m sticking around because I was elected to deliver for this country. [Conservatives](https://www.theguardian.com/politics/conservatives) into the next general election … Estimates of what it would take to achieve this range between £60bn and £72bn.

The UK newspaper front pages cover the Chancellor's tax cut reversals as Truss's fight for survival takes centre stage.

The Mail leads on Truss’s perilous position in parliament and her “grovelling apology” for economy blunders. “I do want to accept responsibility and say sorry, for the mistakes that have been made.” “We must take decisions of eye-watering difficulty,” the paper quotes Hunt’s warning to MPs. “Humiliated” the Mirror says. “Truss was warned on Monday night that she was ‘in office but not in power’”, the paper reads. The paper writes that the mini-Budget has been “dumped in a catastrophic humiliation” to the PM as one Tory says Truss has “poured petrol over everything”.

The party has a knack for reinvention – we can't let them pin it all on one unpopular leader, says Guardian columnist Owen Jones.

[boasted about raiding money](https://www.theguardian.com/politics/2022/aug/05/video-emerges-of-rishi-sunak-admitting-to-taking-money-from-deprived-areas) from poor urban communities in favour of rich Tory districts, who called for those who “vilify” the UK to be treated as extremists, the sort of unhinged authoritarianism you might expect from Viktor Orbán. [genius of David Cameron and George Osborne](https://www.politicshome.com/news/article/jeremy-hunt-says-david-cameron-was-a-genius-for-getting-public-to-accept-austerity)” for how they “persuaded the country to accept the most challenging cuts to public spending in our peacetime history without poll tax riots”. As chancellor, he successfully [championed lockdown sceptics](https://www.thetimes.co.uk/article/48-hours-in-september-when-ministers-and-scientists-split-over-covid-lockdown-vg5xbpsfx) and ensured that restrictions were delayed in autumn 2020, only for them to be imposed more harshly and for longer than might have otherwise been the case when infections spiralled out of control. This was a team effort, brought to you by Conservative party productions, by Cameroons and Eurosceptics, by Spartans and Johnsonites, from One Nation Conservatives to the European Research Group. [flagship political programme](https://twitter.com/Channel4/status/1576615492692893698) in the capacity of witness, rather than an accused in the dock. Given he agitated for corporation tax [to be slashed](https://news.sky.com/video/corporation-tax-cut-not-sexy-but-necessary-says-jeremy-hunt-as-he-discusses-conservative-leadership-bid-12649235) to an even lower level than Truss had dreamed of, how can he credibly argue he will offer a meaningful alternative to Trussonomics? [he was too slow](https://www.bmj.com/content/372/bmj.n335) to boost the NHS workforce: a euphemistic revision of how he [ignored severe NHS staff shortages](https://www.theguardian.com/politics/2022/may/15/jeremy-hunt-ignored-nhs-staff-shortages-while-health-secretary), which left us underprepared for the pandemic. Buried by the very “markets” she once fetishised, the prime minister is terminally wounded, [fronting policies](https://www.theguardian.com/politics/2022/oct/17/hunt-rips-up-most-of-mini-budget-and-scales-back-energy-prices-plan) that, just days ago, she would have savaged as coming from the “anti-growth coalition”. He tuts now at economic policies recklessly defying market rules, as though it wasn’t under his economic stewardship that Britain’s [AAA-rated debt status](https://www.theguardian.com/business/2013/feb/23/george-osborne-britain-aaa) wasn’t stripped away. [opaquely funded rightwing thinktanks](https://www.theguardian.com/commentisfree/2022/sep/23/liz-truss-power-extreme-neoliberal-thinktanks), she has now been barred from the lab itself. Let’s not forget what happened to Theresa May, who – after carelessly disposing of the Tories’ parliamentary majority – was condemned to remain in office by her own party, in the hope she’d absorb the political mortar fire otherwise directed at the Having turned her own citizens into lab rats for an experiment brewed in the boardrooms of

Developments in the UK have been closely followed by media across Europe and the rest of the world, and the verdict from most outlets is outright brutal.

And less so at such speed.” “Embarrassment for Liz”, said the state-owned daily Rossiyskaya Gazeta on Monday. The Colombian newspaper El Colombiano, carrying a story with the headline “Liz Truss the Brief”, wrote that “Liz Truss, who’s been the British PM for barely six weeks, has managed to drag her party and her country into a debacle the depth of which the country has never before sunk to.

'The great office of Prime Minister was yesterday reduced to an unedifying game of ghost-hunting,' The Sun writes in an editorial.

The thought of a broken PM having to appear at PMQs tomorrow is almost tragic. Yet allies insist she wants to fight on — and Tory MPs have no clear plan to replace her. “It’s time for the wise men and women of the Conservative Party to decide whether the loss of confidence in Miss Truss is terminal,” it writes.

There have been fresh calls for Prime Minister Liz Truss to resign after new Chancellor Jeremy Hunt announced he was ditching nearly all of the measures set ...

Mark Antoniazzi predicted: "Come April there won’t be a Conservative government," while Jonathan White wrote: "I think the Conservatives are unlikely to win the next election." Others were less focused on whether or not Truss would resign, instead taking bets on when she would step down, with her fate seemingly sealed in the eyes of many commenters. Martin Ward criticised the "terrible state of affairs," adding: "I’ve voted Tory all my life, no more!" "The whole lot of them are not fit for purpose," said Pippa Jade. It is the right thing to do to ensure the stability, security and prosperity of the people whom we owe everything." Andrew Stanley added: "She is a disaster for the UK and its economy," while Chris Smith said that the PM's performance had been "shameful". However, it is not just Tory backbenchers and other politicians who have been left dismayed by the Prime Minister's performance in her new job in recent weeks, with many people in Wales also wanting to see her resign. In a live address to the nation, Hunt announced he would be reversing a number of key tax cut policies with the Government's plans to cut the basic rate of income tax from 20 per cent to 19 per cent cancelled for the foreseeable future. He also confirmed that a big change would be made to the energy price guarantee which was announced less than a month ago, with the scheme to cap all household energy bills for two years now set to be cut from April 2023. We need a uniter." Bridgend MP Jamie Wallis joined Crispin Blunt and Andrew Bridgen calling on the Prime Minister to quit on Sunday by penning an open letter telling her to step down. There have been fresh calls for Prime Minister Liz Truss to resign after new Chancellor Jeremy Hunt announced he was ditching nearly all of the measures set out in last month's controversial mini-budget.

Not only has the planned cut in the basic rate of income tax been binned, so has the plan originally from Rishi Sunak to cut it in 2024. The prime minister who ...

Inevitably some couldn't help jump to the conclusion that he was somehow offering a commentary on the pickle she is in. I can bring you a little nugget about one of the things that set tongues wagging last week - that throwaway remark from the King when he met Liz Truss for their weekly audience at Buckingham Palace. But she didn't turn up and instead sent Leader of the Commons Penny Mordaunt, putting back the chancellor's appearance by about an hour. Liz Truss is meeting her backbenchers, offering to see them all this week. "Not many of us buy the idea that another leadership change is the worst case scenario. Originally it was in the diary for November. One source suggested they are working "in lockstep." The statement that has just been delivered is the second yanking forward of an important economic moment for the country. I'm now told it was actually a nod of sympathy because of logistics - it was the prime minister's second visit to the Palace in a matter of hours. Yesterday Liz Truss invited Jeremy Hunt and his family to lunch at Chequers. Labour tried to haul the prime minister to the Commons to answer for what is going on. So if this feels a bit confusing this is where it is at: There had to be an interim statement before the interim statement, to try to steady the ship.

Mr Hunt announced he was scrapping "almost all" of the tax cuts announced by the government last month, in a bid to stabilise the financial markets. A minister ...

Allies of Ms Truss have acknowledged it was a crucial 24 to 48 hours for her premiership. You can also get in touch in the following ways: She also denied there had been a "coup" to remove her. Instead, Ms Truss sent Commons Leader Penny Mordaunt in her place for the clash. He told Sky News: "I think her position is untenable. Ms Truss had previously ruled out a further windfall tax on energy companies. A penny cut in income tax due in April will now not happen. Former chief whip Andrew Mitchell said the prime minister had just a fortnight to save her premiership and "if she cannot do the job, she will be replaced". In a series of tense exchanges, Ms Mourdant told MPs the "prime minister is not under a desk" hiding to avoid difficult decisions. A minister had to deny Ms Truss was hiding "under a desk" after the prime minister did not attend a clash with Sir Keir Starmer in the Commons. Asked if he would introduce a "proper" windfall tax on energy companies, Mr Hunt said he was "not against the principle" of taxing profits that are "genuine windfalls", adding that "nothing is off the table". Mr Hunt announced he was scrapping "almost all" of the tax cuts announced by the government last month, in a bid to stabilise the financial markets.

Speaking for the first time after almost all the tax cuts announced in last month's mini-budget were scrapped, the prime minister said: "I recognise we have ...

The extraordinary events have led to some Tory MPs calling for Ms Truss to go, with Sir Charles Walker telling Sky News political editor Beth Rigby: "I think her position is untenable. to help people with their energy bills to deal with the issue of high taxes, but we went too far and too fast. I've acknowledged that." She said she is "sticking around" because she was "elected to deliver for this country", adding: "I will lead the Conservatives into the next general election." I appointed a new chancellor, we have restored economic stability and fiscal discipline. "We were elected on the 2019 manifesto, and I want to go on and deliver that."

Voters in Conservative Harlow respond to the reversal of the Truss budget and her future as PM.

"I don't think she's the right candidate. "Well I think it's completely unstable at the moment," he says. "I think we're in a terrible state at the moment," he said. "I don't know what to make of it really." "It's not only the government is it? I think it's time for somebody else to come in power," he says.