Prime Minister Liz Truss announced a U-turn in corporation tax in a brief press conference this afternoon confirming she will keep the planned tax increase to raise £18 billion pounds a year.
Earlier today Kwasi Kwarteng was sacked as Chancellor and Jeremy Hunt accounted as a replacement.
In her speech, the Prime Minister 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.”
On her choice to sack Kwarteng as Chancellor, Truss said: “I met the former Chancellor earlier today, I am sorry to lose him.”
Truss said the new Chancellor Jeremy Hunt shares her “convictions and ambitions” for the country and will “drive our mission to go for growth.”
Truss ended the brief press conference stating: “I want to be honest, this is difficult, but we will get through this storm.”
When asked by The Telegraph why she believes she should remain as Prime Minister, Truss replied: “I’m determined to see through what I have promised.”
The Sun asked why Truss “gets to stay” in office. She replied: “The mission remains the same. We do need to deliver for people across the country.
“Ultimately we need to make sure we have economic stability.”
BBC queried what credibility the Prime Minister had to continue, Truss said: “What I have done is make sure we have economic stability.”
When asked by a journalist if she would apologise to her party, Truss said: “I’m determined to deliver what I set out to.”
The Prime Minister left the press conference after her short announcement and only four media questions.
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