Truss argued that the “economic orthodoxy” followed by governments over the past 20 years had failed to deliver proper economic growth. (See 9.38am) Labor also says the big problem over the past 12 years has been the UK’s relatively poor growth performance, although its analysis of why growth has been so weak is not the same as that of Truss. He blamed ideas supported by the Treasury and the Financial Times. Chris Giles, the FT’s economic editor, says he was surprised to learn he is running the country – not Truss and her colleagues.
According to @trussliz, the @FinancialTimes has been running UK economic policy for the last 20 years and tax cuts are deflationary …. both were new to me — Chris Giles (@ChrisGiles_) July 21, 2022
Truss claimed its tax cuts would reduce inflation. He said: “My tax cuts will reduce inflation.” When told that most leading economists think they would be inflationary, she cited Patrick Minford as an economist who supports her view.
He argued that the tax increases introduced by Rishi Sunak as chancellor made the UK an international outlier because no other country was raising taxes in the current international climate.
She rejected claims her plan to cut taxes was a gamble because the tax cuts risked leaving the government without the revenue it would need for public services. He said:
What is a gamble is what we are doing right now. The bet is what we are doing at the moment because, at present, the UK is forecast to move into recession. So we have to do something different to move forward with growth, to put money in people’s pockets.
He said he was committed to the extra NHS spending promised by Boris Johnson, even though he also planned to get rid of the health and social care levy that would have funded part of it.
I wanted Boris to continue as prime minister. I think he did a fantastic job with the 2019 election, winning us a huge majority. He delivered Brexit, he delivered vaccines. Unfortunately, we got to a position where he did not have the support of our parliamentary party. My judgment was that he admitted he had made a mistake, or many mistakes, over the past year, but the positive side of the balance sheet was extremely positive.
She denied modeling herself on Margaret Thatcher. Asked about claims she was copying Thatcher’s photo opportunities, she said: “I’m my own person.”
He ruled out sending British troops to defend Ukraine. He said:
We are doing everything we can to support Ukraine. We have led the international coalition to send weapons, we are implementing the sanctions. But I do not support the direct involvement of British troops.
He said he had made a “mistake” to vote to remain in 2016. He said:
I fully accepted the choice made by the people of Britain. I was wrong and I am ready to admit that I was wrong. Some of the supplies of disaster have not happened and instead we have unleashed new opportunities.
He claimed he was someone with “the grit, the grit” to take on the Whitehall machine and drive change.
Liz Truss arrives at her campaign office in Whitehall this morning. Photo: Tayfun Salcı/ZUMA Press Wire/REX/Shutterstock Updated at 10.50 BST Important events: BETA filters Key Facts (6)Boris Johnson (4)Liz Truss (4)UK (3)Today (3)Rishi Sunak (3)
Truss struggles to win support from Scottish Tories who fear she is too close to Johnson
Libby Brooks Liz Truss is struggling to win over the Scottish Tories as many fear a ‘Boris succession candidate’ will do exactly the same as Johnson did in their ratings. Amid claims about the parties, the Scottish Tories suffered their worst electoral result in a decade in May’s local elections. Party sources said Truss, despite being raised with Paisley and claiming to be a “union child”, is “very close to Boris”. Only one MSP – Oliver Mundell – has so far declared his support, while former leader Ruth Davidson wrote in the Telegraph this morning backing Rishi Sunak, saying: “Now is not the time to gamble with the country’s bank balance.” . Both Truss and Sunak have maintained the Downing Street line that they would not give Holyrood the powers necessary to hold a legal referendum. This morning, the high court confirmed it plans to hear the case over whether the Scottish Parliament can legally hold a referendum without permission from Westminster on October 11 and 12, immediately after the SNP’s annual conference.
Home Office response to growing numbers of people arriving in small boats ‘poor’, says border guard
The Home Office’s response to the rise in the number of people arriving in small boats across the English Channel is “poor” and the “system is overwhelmed”, a major report by the border watchdog has said. In a foreword to the report, David Neal, the independent chief inspector for borders and immigration, said: The number of small boat crossings in the Channel has reached such a level that it has been declared a crisis and the number one priority for the Home Office. The volume is unprecedented and some days the system is clearly overwhelmed. The Home Office’s track record in providing an effective and efficient response to the challenge posed by the increasing volume of migrant arrivals via small boats is poor. In my judgment, this stems primarily from a refusal to move from an emergency response to what has quickly become a steady state, or business as usual. This denial permeates every aspect of the Home Office’s response. Systems, processes and resource pathways, which months after the crisis should be routine, codified, controlled and familiar, have been delivered on a “best effort” basis. This is not good enough. Data, the lifeblood of decision-making, is unforgivably awful. The equipment to perform security checks is often first generation and unreliable. Extreme operational conditions, where resources are stretched, will inevitably lead to some data degradation. The staff on the ground are doing their best, but they are tired. Here are three journalists and commentators in today’s Liz Truss interview. By Paul Mason, the former Newsnight finance editor If Truss goes through with her plan to dismantle 20 years of Treasury/Bank of England orthodoxy, she’ll have to scrap the OBR – no way they’ll sign up to the financial fantasy she’s spewing on #r4today — Paul Mason (@paulmasonnews) July 21, 2022 By Ian Birrell, former deputy editor of the Independent If Liz Truss is going to be honest with people, as she keeps saying, shouldn’t she admit that her initial warnings about the economic damage from Brexit were correct? — Ian Birrell (@ianbirrell) July 21, 2022 By Kevin Maguire, Daily Mirror columnist Liz Truss criticizing 20 years of economic policy will be furious when she realizes that her party has been in power for twelve of them and she has been a minister for much of that time. — Kevin Maguire (@Kevin_Maguire) July 21, 2022
Record rise in UK borrowing costs pushes annual deficit to £100bn
A record rise in Britain’s borrowing costs in June, driven by a surge in inflation, put the government’s spending deficit on track to top £100bn this year, almost double the pre-pandemic level, my colleague reports Phillip Inman.
The Trust claims its tax cuts will reduce inflation
Back to Liz Truss, and here’s a summary of the key points from her interview with Nick Robinson on the Today programme.
Truss argued that the “economic orthodoxy” followed by governments over the past 20 years had failed to deliver proper economic growth. (See 9.38am) Labor also says the big problem over the past 12 years has been the UK’s relatively poor growth performance, although its analysis of why growth has been so weak is not the same as that of Truss. He blamed ideas supported by the Treasury and the Financial Times. Chris Giles, the FT’s economic editor, says he was surprised to learn he is running the country – not Truss and her colleagues.
According to @trussliz, the @FinancialTimes has been running UK economic policy for the last 20 years and tax cuts are deflationary …. both were new to me — Chris Giles (@ChrisGiles_) July 21, 2022
Truss claimed its tax cuts would reduce inflation. He said: “My tax cuts will reduce inflation.” When told that most leading economists think they would be inflationary, she cited Patrick Minford as an economist who supports her view.
He argued that the tax increases introduced by Rishi Sunak as chancellor made the UK an international outlier because no other country was raising taxes in the current international climate.
She rejected claims her plan to cut taxes was a gamble because the tax cuts risked leaving the government without the revenue it would need for public services. He said:
What is a gamble is what we are doing right now. The bet is what we are doing at the moment because, at present, the UK is forecast to move into recession. So we have to do something different to move forward with growth, to put money in people’s pockets.
He said he was committed to the extra NHS spending promised by Boris Johnson, even though he also planned to get rid of the health and social care levy that would have funded part of it.
I wanted Boris to continue as prime minister. I think he did a fantastic job with the 2019 election, winning us a huge majority. He delivered Brexit, he delivered vaccines. Unfortunately, we’ve reached a point where we don’t…
title: “Tory Leadership Race Live Liz Truss Blames Treasury Economic Orthodoxy For Uk Growth Slowdown Policy " ShowToc: true date: “2022-11-23” author: “Sue Huddleston”
Truss argued that the “economic orthodoxy” followed by governments over the past 20 years had failed to deliver proper economic growth. (See 9.38am) Labor also says the big problem over the past 12 years has been the UK’s relatively poor growth performance, although its analysis of why growth has been so weak is not the same as that of Truss. He blamed ideas supported by the Treasury and the Financial Times. Chris Giles, the FT’s economic editor, says he was surprised to learn he is running the country – not Truss and her colleagues.
According to @trussliz, the @FinancialTimes has been running UK economic policy for the last 20 years and tax cuts are deflationary …. both were new to me — Chris Giles (@ChrisGiles_) July 21, 2022
Truss claimed its tax cuts would reduce inflation. He said: “My tax cuts will reduce inflation.” When told that most leading economists think they would be inflationary, she cited Patrick Minford as an economist who supports her view.
He argued that the tax increases introduced by Rishi Sunak as chancellor made the UK an international outlier because no other country was raising taxes in the current international climate.
She rejected claims her plan to cut taxes was a gamble because the tax cuts risked leaving the government without the revenue it would need for public services. He said:
What is a gamble is what we are doing right now. The bet is what we are doing at the moment because, at present, the UK is forecast to move into recession. So we have to do something different to move forward with growth, to put money in people’s pockets.
He said he was committed to the extra NHS spending promised by Boris Johnson, even though he also planned to get rid of the health and social care levy that would have funded part of it.
I wanted Boris to continue as prime minister. I think he did a fantastic job with the 2019 election, winning us a huge majority. He delivered Brexit, he delivered vaccines. Unfortunately, we got to a position where he did not have the support of our parliamentary party. My judgment was that he admitted he had made a mistake, or many mistakes, over the past year, but the positive side of the balance sheet was extremely positive.
She denied modeling herself on Margaret Thatcher. Asked about claims she was copying Thatcher’s photo opportunities, she said: “I’m my own person.”
He ruled out sending British troops to defend Ukraine. He said:
We are doing everything we can to support Ukraine. We have led the international coalition to send weapons, we are implementing the sanctions. But I do not support the direct involvement of British troops.
He said he had made a “mistake” to vote to remain in 2016. He said:
I fully accepted the choice made by the people of Britain. I was wrong and I am ready to admit that I was wrong. Some of the supplies of disaster have not happened and instead we have unleashed new opportunities.
He claimed he was someone with “the grit, the grit” to take on the Whitehall machine and drive change.
Liz Truss arrives at her campaign office in Whitehall this morning. Photo: Tayfun Salcı/ZUMA Press Wire/REX/Shutterstock Updated at 10.50 BST Important events: BETA filters Key Facts (6)Liz Truss (4)Boris Johnson (4)UK (3)Today (3)Rishi Sunak (3)
Truss struggles to win support from Scottish Tories who fear she is too close to Johnson
Libby Brooks Liz Truss is struggling to win over the Scottish Tories as many fear a ‘Boris succession candidate’ will do exactly the same as Johnson did in their ratings. Amid allegations of Partygate, the Scottish Tories suffered their worst electoral result in a decade in May’s local elections. Party sources have said Truss, despite being raised with Paisley and claiming to be a “union child”, is “very close to Boris”. Only one MSP – Oliver Mundell – has so far declared his support, while former leader Ruth Davidson wrote in the Telegraph this morning backing Rishi Sunak, saying: “Now is not the time to gamble with the country’s bank balance.” . Both Truss and Sunak have maintained the Downing Street line that they would not give Holyrood the powers necessary to hold a legal referendum. This morning, the high court confirmed it plans to hear the case over whether the Scottish Parliament can legally hold a referendum without permission from Westminster on October 11 and 12, immediately after the SNP’s annual conference. Updated at 11.26 BST
Home Office response to growing numbers of people arriving in small boats ‘poor’, says border guard
The Home Office’s response to the rise in the number of people arriving in small boats across the English Channel is “poor” and the “system is overwhelmed”, a major report by the border watchdog has said. In a foreword to the report, David Neal, the independent chief inspector for borders and immigration, said: The number of small boat crossings in the Channel has reached such a level that it has been declared a crisis and the number one priority for the Home Office. The volume is unprecedented and some days the system is clearly overwhelmed. The Home Office’s track record in providing an effective and efficient response to the challenge posed by the increasing volume of migrant arrivals via small boats is poor. In my judgment, this stems primarily from a refusal to move from an emergency response to what has quickly become a steady state, or business as usual. This denial permeates every aspect of the Home Office’s response. Systems, processes and resource pathways, which months after the crisis should be routine, codified, controlled and familiar, have been delivered on a “best effort” basis. This is not good enough. Data, the lifeblood of decision-making, is unforgivably awful. The equipment to perform security checks is often first generation and unreliable. Extreme operational conditions, where resources are stretched, will inevitably lead to some data degradation. The staff on the ground are doing their best, but they are tired. Here are three journalists and commentators in today’s Liz Truss interview. By Paul Mason, the former Newsnight finance editor If Truss goes through with her plan to dismantle 20 years of Treasury/Bank of England orthodoxy, she’ll have to scrap the OBR – no way they’ll sign up to the financial fantasy she’s spewing on #r4today — Paul Mason (@paulmasonnews) July 21, 2022 By Ian Birrell, former deputy editor of the Independent If Liz Truss is going to be honest with people, as she keeps saying, shouldn’t she admit that her initial warnings about the economic damage from Brexit were correct? — Ian Birrell (@ianbirrell) July 21, 2022 By Kevin Maguire, Daily Mirror columnist Liz Truss criticizing 20 years of economic policy will be furious when she realizes that her party has been in power for twelve of them and she has been a minister for much of that time. — Kevin Maguire (@Kevin_Maguire) July 21, 2022
Record rise in UK borrowing costs pushes annual deficit to £100bn
A record rise in Britain’s borrowing costs in June, driven by a surge in inflation, put the government’s spending deficit on track to top £100bn this year, almost double the pre-pandemic level, my colleague reports Phillip Inman.
The Trust claims its tax cuts will reduce inflation
Back to Liz Truss, and here’s a summary of the key points from her interview with Nick Robinson on the Today programme.
Truss argued that the “economic orthodoxy” followed by governments over the past 20 years had failed to deliver proper economic growth. (See 9.38am) Labor also says the big problem over the past 12 years has been the UK’s relatively poor growth performance, although its analysis of why growth has been so weak is not the same as that of Truss. He blamed ideas supported by the Treasury and the Financial Times. Chris Giles, the FT’s economic editor, says he was surprised to learn he is running the country – not Truss and her colleagues.
According to @trussliz, the @FinancialTimes has been running UK economic policy for the last 20 years and tax cuts are deflationary …. both were new to me — Chris Giles (@ChrisGiles_) July 21, 2022
Truss claimed its tax cuts would reduce inflation. He said: “My tax cuts will reduce inflation.” When told that most leading economists think they would be inflationary, she cited Patrick Minford as an economist who supports her view.
He argued that the tax increases introduced by Rishi Sunak as chancellor made the UK an international outlier because no other country was raising taxes in the current international climate.
She rejected claims her plan to cut taxes was a gamble because the tax cuts risked leaving the government without the revenue it would need for public services. He said:
What is a gamble is what we are doing right now. The bet is what we are doing at the moment because, at present, the UK is forecast to move into recession. So we have to do something different to move forward with growth, to put money in people’s pockets.
He said he was committed to the extra NHS spending promised by Boris Johnson, even though he also planned to get rid of the health and social care levy that would have funded part of it.
I wanted Boris to continue as prime minister. I think he did a fantastic job with the 2019 election, winning us a huge majority. He delivered Brexit, he delivered vaccines. Unfortunately we have reached a position…
