Liz Truss said her cabinet of top ministers had not been informed in advance that the government was planning to abolish the top tax rate.
Liz Truss said her cabinet of top ministers had not been informed in advance that the government was planning to abolish the top tax rate.
British Prime Minister Liz Truss went on to reassure her party and the public on Sunday, saying she should have done better “on the ground” to try to dampen the market’s reaction, which saw the pound hit record lows and Look at government borrowing costs.
On the first day of her governing Conservative Party’s annual convention, Truss, less than a month into power, took a softer tone, trying to reassure the public that she would look after them during and after a hard winter. .
But she stuck to her “growth plan,” which has been criticized by investors and economists for setting up billions of pounds of additional spending, while offering little detail on how it will be paid off in the short term.
“I understand their concerns about what happened this week,” she said on the BBC’s Sunday With Laura Kuensberg show.
“I stand by the package we announced, and I stand by the fact that we announced it quickly because we had to act, but I accept that we should have laid the ground better, ” He said.
Cabinet was not informed in advance
Ms Truss said her cabinet of top ministers had not been informed in advance that the government was planning to abolish the top rate of tax, adding that it was a decision taken by Finance Minister Quasi Quarteng.
“No, we didn’t, it was a decision the chancellor made,” Truss told the BBC, asking whether all his cabinet had been informed of the planned scrapping. “When budgets are developed, they are developed in a very secretive manner.”