Getting rid of Liz Truss would be a “disastrously bad idea”, the foreign secretary has said, as he defended the prime minister’s economic plans.
In spite of Tory discontent about tax cuts, James Cleverly stated that the PM, who has been in power for 37 days, would stick to her plans.
It is “not her fault” that her mini-budget, which caused market turbulence, startled some people.
The planned tax cuts announced last month have received a lot of support from Ms. Truss.
If Ms. Truss continues down her current path, there have been rumors that Conservative MPs may try to remove her from office.
Mr. Cleverly supported her strategy, telling Radio 4’s Today program that accelerating economic growth was the only way to combat the “strong and negative economic headwinds” the UK was currently experiencing.
Financial markets were shaken by Chancellor Kwasi Kwarteng’s mini-budget on September 23, which promised £45 billion in tax cuts financed by borrowing. This prompted the Bank of England to step in to protect pension funds.
On October 31, Mr. Kwarteng is expected to outline his plans for raising money and paying down debt.
However, Ms. Truss is facing increasing pressure from members of her own party to abandon all or a portion of his economic plan in order to strengthen the UK’s financial situation before a challenging winter.
Following a contentious round of Prime Minister’s Questions on Wednesday, Ms. Truss had to defend her economic policies in front of Tory backbenchers.
Robert Halfon had accused Ms. Truss of “trashing blue-collar conservatism,” according to sources in the room.
He informed her that while she had slashed taxes for millionaires and sought to eliminate affordable housing and benefits, the party’s track record over the last ten years had included things like increasing apprenticeships and the living wage.
While Ms. Truss appeared “shocked” and said he could come to speak to her, MPs in attendance said that he received a cheer.