Monday, 3 Oct 2022

Liz Truss vows to make ‘unpopular’ decisions to help boost Britain’s economy

Prime Minister Liz Truss has said she is willing to make ‘unpopular’ decisions to try to help boost Britain’s economy.

She also admitted her new tax cuts will disproportionately benefit the rich.

Speaking in New York ahead of meeting US President Joe Biden, the new PM has said she would be reversing the national insurance hike and axing the planned increase to corporation tax.

Truss also effectively confirmed a plan to scrap the cap on bankers’ bonuses and hit out at those with ‘vested interests’ who will oppose her policies to boost economic growth.

In an interview with the BBC she said: ‘What I want to see is a growing economy so everyone in our country has the high paid jobs that they deserve the investment into their town or city or area.

‘The new businesses being set up that’s the kind of Britain I want to see.

‘If that means taking difficult decisions which are going to help Britain become more competitive, help Britain become more attractive, and more investment flow into our country, Yes, I’m prepared to take those decisions.’

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She added: ‘What I care about is our country being successful and everyone in our country wherever they live wherever there from having those opportunities.

 ‘We do have to take difficult decisions to get our economy growing we have to look at our tax rates, corporation tax needs to be competitive with our countries so we can attract that investment.

‘The reason I’m doing that is because we want people across this country to have those opportunities.’

It comes ahead of Chancellor Kwasi Kwarteng’s mini-budget meeting on Friday.

When asked by Sky News if she is prepared to be unpopular, she replied ‘Yes. Yes, I am’

She added: ‘What is important to me is we grow the British economy because that’s what will ultimately deliver higher wages, more investment in towns and cities across the country.

‘That’s what will ultimately deliver more money to people’s pockets.

‘In order to get that economic growth, Britain has to be competitive. If we put up taxes, if we have arbitrary taxes on energy companies, if we have high corporation tax we’re not going to get that investment and growth…’

It is the first time she has spoken out about parliamentary business since the Queen’s death, as the UK has followed a 10-day period of mourning.

The new Tory leader is also set to speak at the UN General Assembly tomorrow and has said rallying support for Ukraine in the war against Russia and ending energy dependence on Putin’s country will be big themes.

In her BBC interview, she said: ‘We are facing incredibly tough economic times’ after Russia’s invasion of Ukraine and the aftershocks of the Covid-19 pandemic ‘pushed up energy prices’.

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