Tory party conference latest LIVE: Government seeks to shift focus from economy after humiliating U-turn

Posted on October 4, 2022Comments Off on Tory party conference latest LIVE: Government seeks to shift focus from economy after humiliating U-turn
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he Government will attempt to shift the focus away from the economy on Tuesday following the humiliation of two U-turns on income tax cuts for the highest earners and the date of a new fiscal plan.

Keynote speeches due to be made at the Tory conference in Birmingham, by Home Secretary Suella Braverman and Foreign Secretary James Cleverly, will aim to set out the Government’s plans on immigration and commitment to support Ukraine.

Liz Truss will be keen to get the annual gathering back on track after she and Chancellor Kwasi Kwarteng abandoned their plan to scrap the 45p rate for earnings over £150,000 in an astonishing U-turn on Monday to stave off a Tory revolt. The chancellor will also accelerate the publication of his medium-term fiscal plan to later this month and not on November 23

The Prime Minister admitted it had not been an “easy” week but indicated she was sticking with the rest of the tax-cutting package.

Live updates

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U-turn ‘can’t happen again’, Truss warned by senior Tory

Liz Truss was warned on Tuesday by a senior Tory MP that the debacle over the 45p tax cut U-turn “can’t happen again”.

Simon Hoare backed Mel Stride, chairman of the Commons Treasury Committee who welcomed the decision to bring forward from late November forecasts by the Office for Budget Responsibility on the Government’s growth plan.

Mr Hoare, chairman of the Commons Northern Ireland Committee, tweeted: “Absolutely agree with the sentiments of @MelJStride as Chairman of the Treasury Select Committee.

“However I guess we are all still wondering how in the name of Heaven the Govt allowed itself to get into such a mess/hole/row in the first place. It can’t happen again”

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‘We have to be fiscally responsible’ says PM

Prime Minister Liz Truss said there is a need to be “fiscally responsible” amid suggestions benefits will not rise in line with inflation.

She told BBC Radio 4’s Today programme: “We are going to have to make decisions about how we bring down debt as a proportion of GDP in the medium term.

“I am very committed to supporting the most vulnerable, in fact in addition to the energy price guarantee we’re also providing an extra £1,200 to the poorest households.

“So we have to look at these issues in the round, we have to be fiscally responsible.”

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Dawn rises on second day of Conservative Party Conference

Good morning. Today is Tuesday, October 4 and we’ll be bringing you live updates throughout the day from the second day of the Tory party conference, which comes a day after the Goverment’s abrupt U-turn on cuts to higher income tax.

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Comments Off on Tory party conference latest LIVE: Government seeks to shift focus from economy after humiliating U-turn