Cutting taxes the right thing to do, both morally and economically: UK PM | Business Standard News

Clipped from: https://www.business-standard.com/article/international/cutting-taxes-the-right-thing-to-do-both-morally-and-economically-uk%E2%80%88pm-122100500979_1.html

”Will make difficult but necessary choices for economic growth”

British Prime Minister Liz Truss looks on as she speaks to the media at the Empire State building in New York, U.S., September 20, 2022. (Photo: REUTERS/Toby Melville/Pool)

Prime Minister Liz Truss asked her Conservative Party on Wednesday to trust her, pledging to steer Britain through “stormy days” and transform a stagnant economy in a pitch to restore her authority over a party in revolt.

Addressing Conservative lawmakers and members at an annual conference beset by internal bickering and policy confusion, Truss sought to reassure her party, the public and investors that her plan was the right way to reignite growth.

An early interruption from protesters holding a banner asking “who voted for this?” seemed to fire up the audience and the prime minister, whose criticism of what she called “the anti-growth coalition” received loud cheers and applause.

For many in the audience, Truss, who has admitted that she is not the slickest communicator, had done a decent job at a time when she is under pressure from what one Conservative member called “some snakes in the party” undermining her plans. She said, will bring in new powers that will allow the government to overrule human rights rulings by the European court. “Our brilliant new Home Secretary will be bringing forward legislation to make sure that no European judge can overrule us,” Truss told delegates.

“I am ready to make hard choices. You can trust me to do what it takes. The status quo is not an option,” she told the party faithful in the central English city of Birmingham. “Cutting taxes is the right thing to do, morally and economically,” Truss said, adding that the scale of the challenge ahead was “immense”.

The conference, once expected to be Truss’s crowning glory after she became prime minister on Sept. 6, had turned into a personal nightmare after she announced a new economic policy that sparked a crisis of confidence among investors.

Laying the ground

Truss promises to make hard choices for economic growth

‘No European judge can overrule us’

Says will bring in new powers that will allow the government to overrule human rights rulings by European court

‘Unions & green groups part of anti-growth coalition’

Accuses her opponents of being obsessed with “more taxes, more regulation, and more meddling”, calling them “enemies of enterprise” and says: “Wrong, wrong, wrong”

‘Hard choices’

Says will take difficult but necessary choices to get economic growth. “This mission will be difficult but necessary, and we have no alternatives,” she added

‘Food taxes are over’

Appears to ditch predecessor Boris Johnson’s approach to the obesity strategy by signalling a drop in plan to ban 2-for-1 junk food offers. Says “not going to tell you how to live your life”

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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