I'll Lead Tories In Next Election, Says Liz Truss

 

Liz Truss has insisted that she lead the Tories in the next general election, despite a U-turn that left her struggling to defend her authority.

After the new Chancellor Jeremy Hunt canceled almost all of his tax-cutting plans to stabilize the market turmoil, the PM apologized for the mistake.

She said her one-month-old premiere "has not been perfect", but that she had "fixed" the mistakes.

And she said not changing course would have been "irresponsible."

In an interview with the BBC, he said he was still committed to boosting Britain's economic growth, but acknowledged it would take longer to achieve.

"I am committed to the vision, but we have to accomplish it differently," she said.

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It comes after a dramatic day in Westminster, when Mr Hunt announced that nearly all tax cuts announced in last month's mini-budget would be abolished.

The decision has been welcomed by investors, but has left Ms Truss's economic agenda at No. 10 in only a few weeks.




PM apologizes for mistakes

Liz Truss told the BBC's Chris Mason that she was "sorry for the mistakes".




In her interview, Ms Truss said she had accepted responsibility for going "too far, too fast" - and she would like to "say sorry for the mistakes".

She said she remained committed to a "low tax, high growth economy" - but maintaining economic stability was now a "priority".

"I think it is a sign of an honest politician who says 'Yes, I made a mistake. I have addressed that mistake. And now we need to do something for the people'.

"It would have been completely irresponsible for me not to act the way I did in the national interest."

Shadow Treasury Minister James Murray said the PM's apology would not "undo the damage" caused by his mini-budget, after "weeks of blaming everyone".

"No regrets can change the fact that this crisis was created in Downing Street, but is being paid for by the working people," he said.


Earlier, Ms Truss saw Mr Hunt make a Commons statement to explain to lawmakers why the economic strategy outlined last month by Quasi Quarteng was being torn down.

The chancellor warned that "eye-watering difficulty decisions" on taxes and spending would remain ahead of an economic statement on 31 October, when he would give further details of plans to reduce the UK's debt burden.

He said further unpredictable taxes on energy companies - a policy that was repeatedly dismissed by Ms Truss during her Tory leadership campaign - along with changes to the pension triple lock cannot be ruled out.

Ms Truss denied a Labor request to explain the U-turn to MPs herself before Mr Hunt's statement, with Commons leader Penny Mordant saying she was "detained on urgent business".

Labor leader Sir Keir Starmer accused the PM of leaving an "absolute void" in the government, while one of his MPs said she was "pumping under the desk".

In total, £32bn of the £45bn in tax cuts announced in last month's mini-budget has now been removed, including plans to lower the basic rate of income tax from 20p to 19p from April.

Along with the moratorium on alcohol duty rates, deductions in dividend taxes and VAT-free purchases for international tourists have also been abolished.

leadership threats

The government's energy aid package, a policy that was repeatedly championed by Ms Truss in defense of her premiership, will also be rolled back after six months.

The reversal has prompted some Tory lawmakers to talk privately about how Truss could be ousted from office, despite party rules preventing a formal leadership challenge for a year.

Tactics under consideration reportedly include submitting no-confidence letters to force party bosses to change rules, or changing rules to allow lawmakers to sideline party members and elect a new leader themselves.

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• Watch the full interview now on BBC iPlayer

However, there is little agreement on who will take over if Ms Truss is removed.

Defense Secretary Ben Wallace has dismissed rumors that Ms Truss could replace her if she should resign.

Speaking to the Times, he said he would remain at his current job and accused Tory lawmakers of playing the "political parlor game".

Five of the PM's own MPs have publicly asked him to resign, while others have given briefings to reporters that they think his time in office is over.

Ms Truss is holding meetings with her cabinet ministers and backbench MPs as she tries to reassure her party of its hold on power.

He also met with Sir Graham Brady, who published the Tory Party rule book.