Chancellor admits his proposals are not ‘universally popular’ but says he ‘had to do something different’
Like the chancellor, the prime minister has used a Saturday newspaper column to defend the government’s course of action.
In the face of fierce criticism, including a stinging rebuke from the IMF, Liz Truss has admitted that the mini-budget delivered by her government last week did cause “disruption”, after it was followed by a series of economic shocks, including the pound falling to an all-time low against the dollar.
For too long we have been stuck debating how to divide up the economic pie, rather than grow the pie so everyone has a bigger slice.
The status quo is not working. For too long we have been held back by low growth and high taxes. We need to get things done in this country more quickly.
I recognise there has been disruption but it was really, really important we were able to get help to families as soon as possible.
What is important to me is that we get Britain’s economy back on track, that we keep taxes low, that we encourage investment into our country and that we get through these difficult times.
The British taxpayer expects their government to work as efficiently and effectively and possible, and we will deliver on that expectation.
Not all the measures we announced last week will be universally popular. But we had to do something different.
Even in the face of extreme volatility in global markets, with major currencies wrestling an incredibly strong US dollar, we will show financial markets and investors that our plan is sound, credible and will work to drive growth.
