Liz Truss defends mini-budget, saying she has to do ‘what I believe is right’ – UK politics live | Politics

Truss says she has to do ‘what I believe is right’ when asked about criticism of mini-budget

Q: Can you reassure listeners that your judgment is better than that of people like the IMF and the Bank of England, who have criticized the min-budget?

truss says:

I have to do what I believe is right for the country and what is going to help move our country forward.

Key events

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And now the final interview of the local radio round. It is BBC Radio Stoke. John Acres is presenting.

Q: People are worried about their mortages. Higher morgage costs will dwarf what savings you have offered. And this is caused by your mini-budget.

truss says interest rates are a matter for the independent Bank of England. She says they are going up around the world.

She repeats her claim that the “vast majority” of what was announced on Friday was about energy bills.

(That’s not correct. The energy bills package had already been announced, and did not feature much in Kwasi Kwarteng’s speech. The package did not spook the markets. It was the funded tax cuts that did, and Kwarteng’s comment at the weekend about how they might go further.)

Hanson says people are not objecting to the PM’s energy support package. They are objecting to the tax cuts, which were unfair and unfunded, and spooked the markets. You used to believe in sound money. Have you changed your mind?

truss says she still does believe in sound money.

It is important to have low taxes, she says.

Truss suggests Putin primarily to blame for UK’s economic crisis

Next we go to BBC Radio Bristol, where James Hanson is presenting.

Liz Truss is delivering the spiel about cutting energy bills.

Q: The Bank of England has had to step in to clean up the mess you caused. This has never happened.

truss says we are facing a difficult global situation.

Q: But this is not about Putin?

truss says this is about Putin and the war in Ukraine.

She claims the “vast majority” of the package announced on Friday was about energy support.

Q: You didn’t have to make it worse. You spooked the markets. Can you guarantee that pensions are safe?

truss says the Bank of England does a very good job delivering financial stability.

She says:

This is a global financial situation. Currencies are under pressure around the world.

Q: Final question. What is your message for people?

truss says this is a difficult time, but the government is determined to help people through the winter, deliver jobs and boost growth.

Q: Child poverty has increased in the north-east in the 12 years the Tories have been in power. What are you doing about it?

truss says she wants to get more people into work and high-paid jobs. That is what the mini-budget is doing.

Liz Truss Is now on Radio Tees, where Amy Oakden is interviewing her.

Q: How will tax cuts for the wealthiest help people who are not wealthy?

truss says she is cutting taxes across the board.

The basic rate of tax is being cut, and national insurance.

Q: People are scared their pensions will be worthless.

truss says the government has taken decisive action to cut energy bills, and get the economy moving.

Q: You have knocked 40% off people’s pensions.

truss says we are facing the global economic crisis because of the war in Ukraine. Higher taxes would lead to a recession. She wants people to stay in jobs. That is why she cut taxes.

The government is also building things like roads, and broadband infrastructure.

Q: You won’t answer the questions about fairness.

truss says it is not fair to have a recession, or to have towns without investment, or to have the highest tax burden for 70 years.

Q: Is there any evidence cutting taxes for the wealth will reduce inequality?

truss replies:

There is plenty of evidence that if you have very high taxes, they lead to lower economic growth. There is plenty of evidence of that.

Truss refuses to acknowledge that mini-budget has made higher interest rates more likely

Q: Are people worried about being able to keep their homes?

truss says it is an important principle that interest rates are set by the Bank of England.

She has used this line several times now. She is refusing to accept the mini-budget has made higher interest rates more likely.

It is BBC Radio Nottingham next, and Sarah Julian is interviewing Liz Truss.

Q: Has your mini-budget made the situation worse?

truss says the energy package will reduce inflation by up to 5%, as well as increasing growth. This is a global situation.

Q: But the mini-budget will benefit the rich much more than anyone else. It’s like a reverse Robin Hood, isn’t it?

truss says that is not true.

She says the biggest part of the package she announced was the support on energy bills. Pubs were at risk of going out of business.

Q: You have given a huge tax cut to the highest earners. Will your red wall supporters still back you? Is that fair?

truss says she acted to protect people from high energy bills. It is the biggest thing in the mini-budget just announced.

Q: Interest rates are going sky high.

truss says interest rates are a matter for the Bank of England. She says they are going up around the world.

She repeats the point about this being a global situation.

Q: Why can’t you tell us there will be no fracking in Lancashire. People do not want it?

truss says the government is still exploring where there might be consent for fracking.

liver asks about a fracking site in Lancashire. Truss says she has not visited it. He suggests she should.

Truss does not back Rees-Mogg calling opponents of fracking ‘luddites’

Graham Liver on BBC Radio Lancashire is now getting his slot with Liz Truss.

Q: Do you agree with Jacob Rees-Mogg that people opposed to fracking are luddites?

truss says: “I wouldn’t have put it like that.”

Q: What will you do about small boats crossing the Channel?

truss says she will stick to the Rwanda plan, and make sure UK courts cannot be over-ruled.

That is the BBC Radio Kent interview over.

Truss says ‘difficult international situation’ contributes to UK’s problems

Q: Are you ashamed of what you have done?

truss says we have to remember what people were facing – fuel bills going up to £6,000, rising inflation and slow growth.

Now people are not facing those fuel bill rises.

Q: But people are worried about their mortgages and their pensions.

truss says her measures will reduce inflation.

(She is talking about the energy price guarantee, which will reduce inflation. But the min-budget will put it up.)

She repeats the point about taking decisive action. It would have been “unconscionable” to allow people to go into the winter facing high energy bills.

Q: We saw the pound dive. We cannot have our economic system undermined like this.

truss says the government is working with the Bank of England. She goes on: “We face a difficult international situation.”

Liz Truss is due on Radio Kent next. You can listen here.

Truss indicates she is not going to abandon mini-budget plans

Q: Does a strong leader plow on, or does a strong leader change course when necessary?

truss replies: “This is the right plan.”

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