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Liz Truss has held a press conference in Downing Street after Kwasi Kwarteng confirmed he was asked to “stand aside” as Chancellor. The Chancellor’s dismissal comes in the wake of fierce market turmoil sparked by the government’s ambitious mini-budget plot to drive economic growth. Speaking to members of the press, the Prime Minister confirmed plans to cut corporation tax would be ditched and the rate would rise to 25 percent as planned under her predecessor Boris Johnson. Attendees of the press conference fumed as Liz Truss ducked out of the meeting after only answering a handful of questions, causing the crowd to heckle her as she exited the room.
Speaking from Downing Street, the Prime Minister outlined her aim to “restore economic stability” before she abruptly drew the press conference to a close, thanking members of the media for attending.
As the Prime Minister stepped away from the podium, one audience member called out: “Aren’t you going to say sorry?”
Another female voice in the crowd could be heard asking: “You’re out of your depth, aren’t you Prime Minister?”
The U-turn on corporation tax pledges marks the second shift in policy during the short premiership of Liz Truss after the government confirmed plans to scrap the top rate of income tax would not go ahead.
During the press conference, journalist Robert Peston asked the Prime Minister if she planned to apologise to her party after leaving the Conservative reputation for “economic competence” in tatters.
Liz Truss replied: “I am determined to deliver on what I set out when I campaigned to be party leader.
“We need to have a high-growth economy but we need to recognise that we are facing very difficult issues as a country.
“It was right, in the national interest, that I made the decisions I have today to restore that economic instability so we can deliver.”
Read more: Truss’ dealt severe blow as Trussonomics branded ‘irrational nonsense’
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