By Ben Kerrigan
Uk Prime Minister Liz Truss insisted on Wednesday that cutting taxes was “the right thing to do morally and economically,” as she defended her government’s policy which has so far sparked internal party disputes fighting and rocked economic markets.
Ms Truss was defiant against a wave of criticism against her government following her Chancellor’s controversial mini budget which threatened the strength of the pound before Kwasi Kwarteng was forced to perform a U turn.
Speaking at the Conservative Party Conference, Truss said she was determined to “level up our country in a Conservative way” in an effort to unite MPs around her tax-cutting plans and shore up her dwindling authority.
“Cutting taxes helps up face the global economic crisis, putting up a sign that Britain is open for business,” she said in her first conference speech as Conservative Party leader.
“For too long, our economy hasn’t grown as strongly as it should have done,” she continued. “We must level up our country in a Conservative way.”
“We will keep an iron grip on the country’s finances,” she said, in an apparent nod to her political idol, Margaret Thatcher, otherwise known as the Iron Lady. “I have three priorities for our economy: growth, growth and growth.”
The four-day conference, hosted in Birmingham, England, has been characterised by tension and animosity, following strong opposition to Ms Truss’s “growth-focused” economic policies. criticism against the government’s policies have been going from bad to worse, with the start to her premiership taking a very serious knock.
Truss’ resistance to raising welfare benefits in line with inflation is the latest example of flawed policies that will continue to raise concern about the government’s competence in running other more complicated aspects of the country. She would have been expected to build on a promise laid out by her predecessor Boris Johnson.
Defending her controversial policy, Ms Truss has said the proposals would save billions of pounds for the government while “helping more people into work.” But fellow party members, including rightwing supporters, have cautioned the PM against cutting the incomes of Britain’s poorest as the country faces its worst cost-of-living crisis in a generation.
Some protests have already taking place to express discomfort at the government’s policies , which many fear could plunge the country into more crisis if some things don’t begin to change.
A number of MPs have warned that a stubborn refusal to address matters could ignite a party rebellion.
Indeed, some Tories have warned that the prime minister — less than a month into the job — is now fighting for her survival amid plunging poll ratings.
Grant Shapps, former transport secretary, said Tuesday that it was possible the Conservatives could push for a change of leadershio again, just one month into her leadership.
A YouGov poll shows that Britain’s opposition Labour Party has a 33-point lead over the Conservative Party.
Still, Truss remained committed to her policies Wednesday, saying: “Not everyone will be in favor of change, but everyone will benefit from the result.”
The prime minister’s speech was disrupted by shouts from environmental protesters, who were escorted from the audience after Truss requested: “Let’s get them removed.”
Truss’s government has been plagued by controversy over the announcement last month of a string of debt-funded tax cuts — estimated to total £43 billion ($49 billion) — which critics say disproportionately benefit the wealthy and businesses.
The prime minister herself has argued the cuts will spur growth at the top end of the economy, with knock-on effects across society.
Amid the backlash, the government on Monday was forced to backtrack on its plans to abolish in an effort to quell financial markets after the proposals unleashed chaos on U.K. assets.