U.K. Prime Minister Liz Truss pledged Wednesday to ride out the turmoil unleashed by her tax-cutting economic agenda, saying the “disruption” will pay off in a wealthier, more efficient Britain.
Truss closed a tumultuous Conservative conference in the central English city of Birmingham with a speech intended to revive the spirits of delegates. She told them: “I am ready to make the hard choices” and branded her many critics — including opposition parties, trade unions, environmental protesters and parts of the media — an “anti-growth coalition.”
“In these tough times, we need to step up. I am determined to get Britain moving, to get us through the tempest and put us on a stronger footing as a nation,” she said, as she vowed to “stand by our Ukrainian friends, however long it takes.” “Whenever there is change, there is disruption,” she said. “Not everyone will be in favour. But everyone will benefit from the result — a growing economy and a better future. That is what we have a clear plan to deliver.”
Under political and financial pressure, the government on Monday scrapped the most unpopular part of its budget package: a tax cut on earnings above 150,000 pounds a year. That will save about 2 billion pounds, a small share of the government’s 45 billion-pound tax-cutting plan. Most economists say deep public spending cuts will be needed to pay for the rest.
Truss argues that her policies will bring economic growth, higher wages and eventually more tax revenue for the government to spend. Critics say the plans do little to help millions of people who are struggling right now with a cost-of-living crisis fueled by soaring energy prices. Former Prime Minister Gordon Brown, from the Labour Party, said cutting benefits would provoke “a national uprising.”Sign up for our newsletter to get breaking news and daily digests sent to your email.But uniting her party will be a tough task. As delegates met for panel discussions and wine receptions this week inside a cavernous conference hall, the government descended into factional fighting.
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