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Liz Truss addressed the nation today in her second televised speech in as many weeks just hours after sacking Chancellor Kwasi Kwarteng and replacing him with Jeremy Hunt. During a press conference, she sought to inspire some confidence in her Government, striking a balance between praising her measures and vowing to learn from her mistakes. The address has prompted gloomy reaction from Conservatives, however, some of whom described her speech as “dreadful”.
The Prime Minister’s plans
Ms Truss updated viewers on her plans for the economy following Mr Kwarteng’s departure, outlining that her aims have not changed.
She said: “I want to deliver a low tax, high wage, high growth economy. It is what I was elected by my party to do, that mission remains.”
“We recognise because of current market issues. We have to deliver the mission in a different way.”
READ MORE: Jeremy Hunt appointed new chancellor as Truss overhauls top team
Mini budget failures
Ms Truss sidestepped accusations that her mini budget had prompted financial chaos, instead placing blame on the markets.
She said: “It is clear that parts of our mini-budget went further and faster than markets were expecting. So the way we are delivering our mission right now has to change.
“We need to act now to reassure the markets of our fiscal discipline.”
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Jeremy Hunt
Ms Truss took time to praise incoming Chancellor Jeremy Hunt, who was on holiday until this afternoon.
“He’s one of the most experienced and widely respected government ministers and parliamentarians and he shares my convictions and ambitions for our country.
“He will deliver the medium term fiscal plan at the end of this month. He will see through the support we are providing to help families and businesses including our energy price guarantee that’s protecting people from higher energy bills this winter.”
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