Sir Keir Starmer has accused Liz Truss of being “lost in denial”, as the prime minister claimed to have “protected” the UK economy.
The Labour leader said: “There is no point trying to hide it, everyone can see what has happened. The Tories went on a borrowing spree sending mortgages rates through the roof … [Homeowners] won’t forget and they won’t forgive. Nor should they.”
The prime minister faced the Commons for the first time since her chancellor’s mini-budget was blamed for unleashing commotion in the markets and sending the pound into freefall.
Ms Truss was forced to defend the credibility of her economic plan, which is focused on borrowing money to fund growth-boosting measures – a vision now overshadowed by Kwasi Kwarteng’s screeching U-turn over plans to scrap the top rate of tax.
It comes as Samuel Tombs, at Pantheon Macroeconomics, warned the UK was “a big step closer to a recession,” which may not end until late 2023 at the earliest.
He added: “We look for a 0.5 per cent quarter-on-quarter drop in GDP in the fourth quarter, building on a similar decline in the third quarter, and a 1.5 per cent year-over-year decline in 2023 as a whole.”
Right, come on people…who’s gonna be the next PM?
David….Theresa….Boris….Liz…..
She’s going down swinging. The time to blame kwarteng was last week. Now she will continue to lie as report after report after economist comes out to shred her. Even after Halloween will destroy this awful budget or when the pensions disappear, she will still claim she’s right…
Not gonna lie I got a good laugh when she said ‘I am unclear’ met by tumultuous jeering from MPs. She then repeated it and was met with even more derision from the benches. What a clown she is.
Why is the article called “Pound today”? The Pound today is up, which doesn’t fit with the intent of the article.
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Sir Keir Starmer has accused Liz Truss of being “lost in denial”, as the prime minister claimed to have “protected” the UK economy.
The Labour leader said: “There is no point trying to hide it, everyone can see what has happened. The Tories went on a borrowing spree sending mortgages rates through the roof … [Homeowners] won’t forget and they won’t forgive. Nor should they.”
The prime minister faced the Commons for the first time since her chancellor’s mini-budget was blamed for unleashing commotion in the markets and sending the pound into freefall.
Ms Truss was forced to defend the credibility of her economic plan, which is focused on borrowing money to fund growth-boosting measures – a vision now overshadowed by Kwasi Kwarteng’s screeching U-turn over plans to scrap the top rate of tax.
It comes as Samuel Tombs, at Pantheon Macroeconomics, warned the UK was “a big step closer to a recession,” which may not end until late 2023 at the earliest.
He added: “We look for a 0.5 per cent quarter-on-quarter drop in GDP in the fourth quarter, building on a similar decline in the third quarter, and a 1.5 per cent year-over-year decline in 2023 as a whole.”
Right, come on people…who’s gonna be the next PM?
David….Theresa….Boris….Liz…..
She’s going down swinging. The time to blame kwarteng was last week. Now she will continue to lie as report after report after economist comes out to shred her. Even after Halloween will destroy this awful budget or when the pensions disappear, she will still claim she’s right…
Not gonna lie I got a good laugh when she said ‘I am unclear’ met by tumultuous jeering from MPs. She then repeated it and was met with even more derision from the benches. What a clown she is.
Why is the article called “Pound today”? The Pound today is up, which doesn’t fit with the intent of the article.