Wednesday, May 31, 2023
HomeEconomyWeakened trusses double emphasis on 'different' message to spur UK growth

Weakened trusses double emphasis on 'different' message to spur UK growth

Elizabeth Piper, Alistair Smoot and Andrew McAskill

BIRMINGHAM, England (Reuters) – British Prime Minister Liz Truss will Posting her message on Wednesday that Britain needs to “do things differently” to kickstart growth stalls, she used her first speech as Conservative leader to party loyalists in an attempt to restore her fading authority.

Forced U-turn on her tax cuts Less than 24 Truss will double down on her Conservative Party meeting hours Her message that her plan is the right plan to address the long list of problems facing the UK.

But she faces a fight to get other as-yet-unspecified parts of her agenda through parliament as lawmakers gain authority after forcing a reversal of her policy to remove top tax rates , may have not only downplayed her “radical” agenda, but also suggested early elections.

Seemingly undeterred, Truss will tell party members and lawmakers she will build a “new Britain for a new age” and reiterate her government’s belief in decisive action – not to mention Saying “destroy” —

“The political debate has long revolved around how we distribute the limited economic pie. Instead, we need to make the pie bigger and give everyone a bigger piece. Slice,” she will tell the party in the central British city of Birmingham.

“That’s why I’m determined to take a new approach to get us out of this high tax, low growth situation”

Appointed Prime Minister on September 6 The meeting, which was once expected to be her crowning glory, quickly turned into a nightmare after her plan billion pounds ($51 billion dollars) unfunded tax cuts sparked market turmoil, forcing her to reverse course on removing the top tax rate.

Markets largely stabilized after the Bank of England, the Bank of England, stepped in with a multi-billion pound package to shore up bond markets, although borrowing costs remained higher than before the tax plan in September 23.

A government source also suggested that her finance minister, Kwassi Kwaten, was considering presenting his medium-term fiscal plan – showing the so-called How the tax cut ‘growth plan’

change means devastation

Truss will reiterate on Wednesday that her government will have an ‘iron fist’ in control of her office in the UK Saying her fiscal responsibility, value for money to taxpayers, sound money and a smaller state, she will articulate her beliefs about fiscal responsibility.

“Trickle-down” economics will only widen social inequalities and will not provide investment in the short term.

This is not an argument that Truss accepts, and she will concede on Wednesday that “not everyone will support” her change, which could be a warning of the reforms she intends to make to stimulate investment and Cutting spending may not be to everyone’s liking.

Some lawmakers worry that she will renege on her promise to increase benefit payments based on inflation, which they think is inappropriate at a time when thousands of families are struggling

Truss said her government had yet to make a decision on benefit payments and ministers said they were obliged to look at the figures later this month.

With the Conservative Party lagging badly behind the main opposition Labour Party and potentially facing annihilation if an early general election is called, several lawmakers don’t think it will be easy to restore their position, polls show.

Some say the risk is that the Conservatives are once again the “nasty party” – a moniker coined by a senior party member 20 years ago, At the time

But Truss would say again that there is a way to boost the party by “doing something different” to ensure growth.

“As long as there is change, there will be disruption. Not everyone will approve,” she would say. “But everyone will benefit from the outcome – economic growth and a better future. That’s our clear plan to achieve.” ($1=0.8757 pound)



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