Liz Truss ‘willing to be unpopular PM’ to grow British economy

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iz Truss has said he is willing to be an unpopular prime minister to bring in measures he believes will boost the economy.

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In interviews upon arriving in New York for the UN summit, Ms Truss confirmed she would reverse the national insurance increase and end the planned increase in corporation tax before Chancellor Quasi Quarteng’s mini-budget on Friday.

She also dismissed concerns about government plans to borrow more instead of taxing energy companies’ profits through an unexpected tax, saying she does not accept tax cuts, despite acknowledging that her The rich would disproportionately benefit from the policies.

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She also appeared to confirm the plan to eliminate the cap on bankers’ bonuses.

In a broadcast interview, BBC political editor Chris Mason asked Ms Truss if she was happy to see bankers getting bigger bonuses and the rich getting richer.

“What I want to see is a growing economy,” Ms Truss said.

The chancellor is reportedly weighing in on removing a cap on bankers’ bonuses as part of a shake-up to city rules (Kirsty O’Connor/PA)

, PA Wire

“If it means making tough decisions that are going to help the UK become more competitive, help the UK become more attractive, help more investment flow into our country, yes, I am going to make those decisions.” I’m completely ready for it.”

In an interview with Sky News at the Empire State Building’s 102nd floor observatory, the prime minister was asked if he was prepared to be unpopular.

“Yes. Yes, I am,” she replied.

“What is important to me is that we grow the British economy because that will ultimately provide higher wages, more investment in towns and cities across the country. That will ultimately put more money in people’s pockets.

“To get that economic growth, Britain has to be competitive. If we tax, if we have arbitrary taxes on energy companies, if we have high corporation taxes, we’re not going to get that investment and growth. …”

Economic experts and critics of his policies have warned that tax cuts would benefit the rich far more than the rest of society.

Ms Truss acknowledged it would be an initial effect but dismissed criticisms of unfairness.

“I don’t accept the argument that cutting taxes is unfair in any way,” she told Sky.

“What we do know is that people with higher incomes generally pay more taxes, so when you reduce taxes there is often a disproportionate benefit because those people are paying more tax in the first place. .

“We should set our tax policy on the basis of what will help our country to succeed. What is it going to give to the economy that benefits everyone in our country. What I do not accept is that Tax deductions for business generally don’t help people.

As she spoke, US President Joe Biden tweeted criticizing the type of economic policy she was advocating – the day before their meeting at the United Nations summit in New York City.

“I am sick and tired of trickle-down economics. It never worked,” Mr Biden said.

The president’s tweet was not supposed to be directed at Truss, but underscored the differences between the two leaders’ stances, such that Truss says she wants to foster closer ties with international allies, and the two leaders at the summit. On Wednesday before a meeting between

It comes as the new prime minister has faced severe criticism after talks with the US on a free trade deal – seen as one of the great rewards of Brexit – are unlikely to resume for years. .

Ms Truss and Mr Biden were due to meet on Sunday ahead of the Queen’s state funeral in Downing Street, which Mr Biden attended, but the meeting was postponed, in what a cabinet minister today called “excessive diary pressure”.

Speaking to reporters traveling with her to the US, Ms Truss said deals with India and other allies are “our business priorities”. On the prospect of a US trade deal, she said: “There are currently no talks with the US and I don’t expect them to start in the short to medium term.” Meanwhile he will not discuss the Northern Ireland Protocol or the issues of unauthorized migrant crossings of the Channel during his meeting with French President Emmanuel Macron.

Downing Street said the prime minister had “constructive” talks for about half an hour, but that it focused on energy security rather than the two major points of contention.

The pair held their first bilateral meeting on the sidelines of a UN summit in New York, when Ms Truss sparked controversy by failing to say that the ally was “friend or foe”.

US President Joe Biden (center) and First Lady Jill Biden arrive at the state funeral of Queen Elizabeth II,

, the countryside

Mr Macron reportedly welcomed their talks on Ukraine and other European issues, saying: “I now believe in the evidence, in the results.

“There is a desire to reconnect, move forward, and show that we are allies and friends in a complex world.”

Ms Truss’s official spokeswoman confirmed that she did not discuss the post-Brexit agreement on Northern Ireland or the migrant crossing in small boats, which has not ended.

He said that the government intended to resolve the protocol issues with the EU, adding: “This is not an issue that necessarily we believe can be resolved through an EU country.” Is.”

AFP via Getty Images

But the spokeswoman did not say whether she would take up the protocol with European Commission President Ursula von der Leyen on Wednesday.

The White House has said that Joe Biden will raise this in his meeting with Ms Truss.

National Security Adviser Jake Sullivan said the US president would “encourage the UK and the EU to work out a practical outcome that ensures there is no threat to the fundamental …


Source: www.standard.co.uk

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