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Liz Truss refused six times this morning to rule out fresh U-turns as the embattled Prime Minister continues to face mutiny among the Tory ranks. The Prime Minister failed to give a clear answer when repeatedly asked if there was a chance she may cave to pressure from backbenchers again over her plan for growth.
It comes just 24 hours after the Chancellor announced he was abandoning the abolition of the 45p top rate of tax.
Kwasi Kwarteng said “we get it and we have listened” as he confirmed the U-turn under pressure from angry Conservative MPs.
Not ruling out more changes, Ms Truss told LBC this morning: “We do listen to people and we bring the country with us.”
There is concern within the party that the Government is set to abandon a pledge to uplift benefits in line with inflation, as well as the decision to end the cap on bankers’ bonuses.
MPs fear the policies risk being an electoral disaster after polls showed Labour were on course for a majority in the House of Commons.
Speaking to BBC Radio 4’s Today programme, Ms Truss conceded her Government has not been “absolutely perfect” but added: “We have learned from the feedback we’ve received.”
Mr Kwarteng yesterday also appeared to cave to pressure over his planned timetable for setting out the Office for Budget Responsibility’s (OBR) official forecasts for UK growth.
The Chancellor had been planning to wait until November 23 to publish his medium-term fiscal plan and forecasts.
But it is understood he will publish them later this month after he told the Tory party conference in Birmingham he will set out more “shortly”.
The lack of forecasts has been blamed by some for the market panic following his tax-cutting measures announced on September 23.
An additional £105billion of borrowing is required in order to fund the plans set out in the so-called mini-budget.
Mr Kwarteng had claimed it was not possible to publish OBR forecasts when he first announced the measures in Parliament as the watchdog would not have had enough time to prepare a report.
However, it has since emerged that an offer from the OBR to fast-track an outlook on the UK economy was rejected by the Chancellor.
Following the turbulence start to her premiership, Ms Truss told the Daily Express last night: “Express readers can rest assured: we will reward your trust.
“It has not been an easy week, but we have shown that we listen to people’s concerns and we are determined to deliver on our core plan for economic success and security.
“Our plan for growth is essential to get the British economy moving. Growth is the only way to create jobs, boost wages and fund our vital public services like the NHS.”
The Prime Minister vowed to push ahead with her plans despite a mounting revolt on benefits payments.
Ms Truss has committed to increase pensions in line with prices but on benefits said “we have to be fiscally responsible”.
It is thought she is planning to increase the payments in line with earnings, which are expected to be much lower than inflation.
Senior Conservatives including Michael Gove and Esther McVey have warned it would be wrong to backtrack on the commitment made by Rishi Sunak when he was Chancellor.
This morning, a member of Ms Truss’s own Cabinet also went public to warn against the plan.
Penny Mordaunt, the Leader of the House of Commons, told Times Radio: “I have always supported, whether it’s pensions, whether it’s our welfare system, keeping pace with inflation. It makes sense to do so.
“That’s what I voted for before and so have a lot of my colleagues.
“But we do need to look at where we can make efficiency savings, just because of the cost challenges on those departments’ budgets.”
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