Truss in ‘no doubt’ that lower taxes will lead to economic growth

Ms Truss suggested she could go further in the future to make sure Britain is “competitive.” She said: “The number one thing we need to deliver as a government, and in fact as a country, is economic growth.

“Since the financial crisis we have seen relatively low levels of economic growth and without economic growth we cannot deliver better lives for people, whether it’s higher wages or money able to go into public services like the NHS or the education service.

“Lower taxes lead to economic growth, there is no doubt in my mind about that.

“Now, there are of course other measures that we have to take to spur economic growth as well.

“During the campaign, I talked about moving faster in getting growth projects going, mobile broadband fixing, the arteries of the economy – we need to do that too.

“But having the highest taxes in 70 years and putting up corporation tax at a time when we’re trying to attract investment to this country isn’t going to deliver growth. We need to be competitive.”

Ms Truss said she would not preempt the Chancellor’s statement but insisted the government is “absolutely focused” on boosting the economy.

“That’s what’s important,” she said. “What is important is what makes Britain more competitive.

“What is going to drive investment across our country what is going to bring more investment in towns and cities that have been left behind and that we have committed to levelling up.”

“Everything we do will be focused on delivering for people because ultimately what I want to see is more jobs, higher wages and more opportunities.”

The Chancellor is considering lifting an EU-imposed cap on bankers’ bonuses to help make the City more competitive internationally.

Ms Truss dismissed suggestion the government was choosing bankers over workers.

“We are on the side of delivering a higher wage economy,” she said. “That’s what we need to do.”

“We’ll take every measurement… not every measure will be popular. And there are always vested interests, people who oppose measures that increase economic growth.”

“But what is important to me, what is important to the Chancellor, is that people have more opportunities, there is more investment, there are jobs with higher wages. And we are prepared to make that argument. This is about growing the size of the pie.”

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  • 1 час, 52 минуты назад 30.09.2022Politics
    ‘Makes Starmer look charismatic!’ GB News panellists clash over Liz Truss staying in power

    Mark Dolan’s GB News show on Thursday saw a number of panellists debate over whether Liz Truss can ride out the current political and economic storm. The new PM and Chancellor Kwasi Kwarteng have come under fire for an economic policy that would cut taxes and stamp duty.

    Associate Editor of the Daily Mirror Kevin Maguire slammed the new PM’s chances of holding out in Downing Street.

    He said: “I used to think she’d be out of her depth in a puddle, now I realise it’s a damp pavement.

    “She’s in absolutely serious political trouble.

    “[Some Tories] are openly speculating that she could be dumped and replaced by Rishi Sunak.

    “You’ve mentioned that 33 percent poll lead, you’re not going to reverse that.

    “I think the mood has changed, people feel it is unfair”

    Journalist and broadcaster Angela Epstein, however, leapt to the defence of Ms Truss.

    She told the panel: “I think what we’ve heard is hysteria.

    “A lot of noise, a lot of catastrophising, and a lot of panic.

    “We need a steadying hand, if Labour are doing well in the polls I think it’s very much a knee jerk reaction.

    “At the moment Labour are doing well because there’s panic about the Conservatives, not because Labour are a better option.”

    Former Tory MP and criminal barrister Jerry Hayes expressed his anger at the party for their economic policy.

    He said: “The real person in difficulty is Kwasi Kwarteng.

    “For a party who actually is the party of the free market why don’t they understand the free market?

    “The hysteria’s coming from the markets, because the one thing that Liz Truss and the Chancellor haven’t shown us is how is this money going to be paid for?

    “She has no personality, she is the person who makes Starmer charismatic!”

  • 1 час, 52 минуты назад 30.09.2022Politics
    ‘Look at Germany!’ Treasury minister dismantles criticism as he points to Berlin inflation

    The Treasury minister defended Liz Truss and Chancellor Kwasi Kwarteng after a bruising week for the new Government. Speaking to Sky News, Andrew Griffith insisted it is a “difficult time for all developed economies” and that the UK was not alone in dealing with a financial crisis. He pointed to inflation figures released yesterday in Germany that showed unprecedented levels in the country.

    Sky News anchor Anna Jones said: “We have had chaos on the markets, we have seen the pound slump.

    “Chaos in the bond market as well, which has seen an unprecedented move by the Bank of England to intervene

    “What did spook the markets, what’s the reason?”

    Mr Griffith responded: “We have seen difficulties in lots of international markets.

    “This week the UK has been quite challenging but the German inflation figures that came out yesterday were an unprecedented level of inflation at 11 percent.”

    He continued: “That s the highest since the single currency came into being and I suspect one of the highest in German history.”

    Ms Jones questioned whether the City minister “accepted that last week’s statement caused the crash”.

    Former chief whip Julian Smith argued that “the Government must scrap the 45p, and take responsibility for the link between last Friday and the impact on people’s mortgages”.

    Mr Griffith hit back, adding that the government has taken “decisive steps” to deal with the energy crisis.

    He also hit out at Labour, claiming that they “committed themselves to increasing the energy insecurity of this country” during their conference in Liverpool.

    Mr Griffith later told the BBC that Germany’s inflation was “higher than in the UK”.

    German inflation soared to double-digit levels for the first time in more than 70 years, sparking concern and panic among analysts.

    Leading economists told the Finacial Times that Europe’s biggest economy could shrink by up to 7.9 percent next year in a worst-case scenario.

    Thursday’s inflation figures of 10.9 percent is the first time German inflation has reached double-digit levels since 1951.

    The increase is expected to lift overall eurozone inflation to a new record of 9.7 percent.

    Despite the crisis, the German finance minister took the time to mock the UK’s own financial turmoil.

    Christian Lindner vowed on Thursday that he will not follow the UK “down the path of an expansionary fiscal policy”.

    The Berlin government announced a €200bn (£177bn) fund designed to protect consumers and businesses from rising gas prices driven by Russia’s war in Ukraine.

  • 3 часа, 4 минуты назад 30.09.2022Politics
    Georgia and Nevada on their minds: Senate watchers sweat two swing states

    The Democratic and Republican campaign chiefs agree on one thing about the battle for the Senate majority: Nevada and Georgia are at the center.

    “If you look at the polls, Nevada and Georgia are the two logical ones” Republicans can pick up, Sen. Rick Scott of Florida, the GOP’s campaign chair, said in an interview. Sen. Gary Peters, the Democratic campaign honcho, sees things similarly.

    “I’ve been saying that Georgia, Nevada are gonna be real close races,” the Michigan Democrat said.

    Of course, Democrats would love to pick up Senate seats in places like Wisconsin and Pennsylvania, where John Fetterman has led every recent public poll. And Republicans dream of wins in Colorado and Washington.

    Yet Democrats’ most straightforward path to keeping the majority still means bringing back their so-called Core Four battleground senators: Maggie Hassan of New Hampshire, Mark Kelly of Arizona, Raphael Warnock of Georgia and Catherine Cortez Masto of Nevada. And while Hassan and Kelly are breathing a bit easier these days, Cortez Masto and Warnock are sweating it out in extremely tight races. As Peters put it, “I feel more comfortable about — or I feel good about — the trajectory that we’re seeing in Arizona and New Hampshire.”

    There’s time for the political tide to shift before November, but the reality is that both parties have modest dreams at the moment. And Democrats have reason to worry if they can’t hold onto a majority of their four vulnerable incumbents.

    Currently a good Republican night would involve holding Wisconsin, Pennsylvania, North Carolina, Florida and Ohio, while snagging Nevada and Georgia — a net shift of two seats. A good Democratic night would mean no lost incumbents, plus pick-ups in Pennsylvania and perhaps one other state, giving the party enough votes to comfortably confirm President Joe Biden’s nominees.

    Hassan and Kelly aren’t out of the woods yet, but both exploited messy GOP primaries to take steady leads in the polls and benefited from Govs. Chris Sununu (R-N.H.) and Doug Ducey (R-Ariz.) passing on Senate runs.

    Republicans nominated former football star Herschel Walker in Georgia, a state where partisan polarization and his athletic fame are keeping him afloat despite his flaws. And Nevada is returning to its swing-state status as it recovers from the pandemic’s chilling economic effect.

    That makes Cortez Masto and Warnock the two incumbents whose campaigns keep Democrats up at night.

    “You’re climbing a hill if you’re a Democrat running in Georgia,” said Sen. Tim Kaine (D-Va.), who expressed confidence in both Cortez Masto and Warnock.

    The GOP nominee in Nevada, former state attorney general Adam Laxalt, lost a gubernatorial race in 2018 but counts a powerful political legacy from his grandfather, the late Sen. Paul Laxalt (R-Nev.). Kaine observed that the name “Laxalt in Nevada is like a Sununu in New Hampshire. Nevada is the one place where [Republicans] got the candidate they wanted.”

    Though Democrats significantly outraised their foes in every Senate battleground, Laxalt and Walker are holding their own. Recent polling shows both Republicans locked in tight races and even occasionally leading, whereas Hassan and Kelly have led all public polls in their states since the GOP nominated Don Bolduc and Blake Masters, respectively.

    “Georgia is the most competitive battleground state in the country,” explained Sen. Jon Ossoff (D-Ga.). Warnock hit 50 percent in some recent public polls, but if neither candidate reaches a majority threshold on November’s ballot — as was the case in the state’s regular and special 2020 Senate elections — the race will go to a December runoff.

    In Georgia, both Walker and Warnock’s campaigns concede there are few swing voters to win over. The Peach State’s winning strategy is all about turnout, then, while Nevada has more independents to compete for. Nevada ballots even have a “none of these candidates” option that can affect the outcome of a close Senate race.

    Cortez Masto contended the state is not as blue as its reputation, even though Democrats won the state’s last two Senate races and carried it during the last four presidential elections.

    “Nevada is always competitive,” she said. “It’s a swing state.”

    In conversations with more than a dozen strategists and senators, members of both parties said Nevada and Georgia represent Republicans’ strongest opportunities to flip seats, while Pennsylvania is Democrats’ best bet for a pickup. New Hampshire will now be a tall order for the GOP, the consensus goes, and top Republicans also see flipping Arizona as a pipe dream.

    The New Hampshire GOP nominated Bolduc, a retired Army brigadier general, despite Republican challengers spending millions of dollars to stop him. Fergus Cullen, the former New Hampshire Republican Party chair who supported state Senate President Chuck Morse in the primary, said Bolduc lacks the skills or field operation to run a competitive general election campaign.

    As of the end of August, Bolduc had less than $84,000 in cash on hand, compared with Hassan’s $7.3 million.

    “Nothing has changed to suggest that the pre-primary concerns were not valid,” Cullen said of handwringing over Bolduc’s history of gaffes and controversial positions. “Democrats can’t put this one in the bag yet, but they have to be breathing a huge sigh of relief.”

    Bolduc spokesperson Kate Constantini said he has been “underestimated by the pundits and critics, and yet he won his primary without spending a dime on television advertising.”

    The top Senate Republican super PAC, Senate Leadership Fund, has kept its committed $23 million in the state. Yet Hassan holds a significant early lead in the first public general election polling, and Bolduc quickly recanted his past endorsement of false voter fraud claims about the 2020 election and support for the privatization of Medicare and Social Security. Nonetheless, Republicans say they are staying in.

    “We see a path to victory, but don’t take our word for it: National Democrats are pouring millions into New Hampshire over the month of October,” said Jack Pandol, a spokesperson for SLF.

    Hassan and her allies, notably, still insist that the race isn’t over.

    In Arizona, Republican Blake Masters is polling behind Kari Lake, the state’s Republican gubernatorial nominee, who has spent less on her campaign than he has. Members of both parties say Masters is wounded by waffling on the state’s abortion ban.

    On Thursday, Kelly launched a new ad about Masters’ support for abortion restrictions, one of several Democratic spots about his stance on the issue. In an interview, Kelly said voters “realize that this is what my opponent wants: an abortion ban with no exceptions.”

    A Masters spokesperson did not respond to a request for comment. Before winning the primary, he advocated a federal anti-abortion “personhood law,” but has since sought to soften his stance while still embracing a proposed national 15-week ban.

    The Senate GOP’s main super PAC has since withdrawn all of its scheduled Arizona ads. Other outside GOP spending groups cobbled together money to keep him on the air in recent weeks, but he will likely need a substantial funding source for October to have a shot at remaining competitive, according to a Republican with knowledge of the race.

    Another person with knowledge of a recent Arizona Republican internal poll found Masters’ favorability rating to be lower than Roy Moore’s in 2017 as the Alabama Senate nominee imploded amid reports of past sexual misconduct, including romantic pursuit of minors.

    Three Republicans involved in national races said the party’s chances of unseating Kelly are comparable to those of GOP victories in blue Colorado or Washington. The party’s candidates in those states raised significant money in an effort to unseat Democratic incumbents with tepid approval ratings — and they’re still underdogs.

  • 3 часа, 4 минуты назад 30.09.2022Politics
    News The Buckshee

    Last Sunday, Italians voted for the most right-wing government since Benito Mussolini. The controversial politician leading the winning coalition, Giorgia Meloni, will become Italy’s first female prime minister.

    Meloni has become a darling of sorts for many Republicans in America, who invited her to speak at this year’s CPAC conference. The “Brothers of Italy,” co-founded by Meloni in 2012, was a fringe party with neo-fascist roots. It rebranded itself in recent years as a socially conservative, ultra-nationalist party that’s also a European voice in the growing trans-national culture wars.

    From a rooftop bar near central Rome, Ryan Lizza and POLITICO Europe’s Rome correspondent, Hannah Roberts, dig into Meloni’s history, rise, and how she’s likely to lead Italy’s government with EU, NATO, and Russian relationships center stage.

  • 3 часа, 52 минуты назад 30.09.2022Politics
    Brexit showdown: Cleverly set for first crunch talks with EU’s Sefcovic as tensions soar

    The Foreign Secretary will hold his first call later with Maros Sefcovic, amid an ongoing row over post-Brexit arrangements in Northern Ireland. The European Commission vice president, who has led talks between the EU and the UK over the Northern Ireland Protocol, is expected to speak with James Cleverly around lunchtime.

    The protocol, signed by former prime minister Boris Johnson’s government, effectively keeps Northern Ireland aligned with many EU single market rules to avoid a hard border with Ireland, therefore requiring some checks on goods crossing the Irish Sea.

    Despite elections in May, there is currently no sitting powersharing executive in Northern Ireland after the DUP withdrew its first minister from the governing executive in protest in February at the economic border created in the Irish Sea by the protocol.

    It was Liz Truss as foreign secretary who introduced legislation which effectively tears up parts of the agreement, worsening relations with the EU.

    Nonetheless, both sides have insisted that a negotiated outcome is the preferred option amid hopes that some form of compromise can be reached.

    In an interview with BBC Northern Ireland on Thursday, Ms Truss said that the Government remains open to a “negotiated settlement”, but insisted that the situation cannot be allowed to “drift”.

    Devolution in the region has been in flux since February when the DUP withdrew its first minister from the governing executive in protest at the economic border created in the Irish Sea by the protocol.

    The Government has introduced legislation which effectively tears up parts of the agreement, sparking a row with the EU.

    Speaking following a meeting with new Northern Ireland Secretary Chris Heaton-Harris at Hillsborough Castle, Co Down, Irish Foreign Affairs minister Simon Coveney said the messages coming from London were “quite different” from those of recent months.

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    Mr Heaton-Harris said that he preferred a negotiated settlement with the EU over the post-Brexit arrangement, but added that the Government would continue with its legislation to override parts of the treaty.

    The meeting between the two figures came hours before former EU negotiator Michel Barnier told a gathering in Dublin that the bloc “must not and will not back down”.

    During an address in Iveagh House, Mr Barnier said that Brexit also remained “a challenge” for Ireland, and “a blow” to the European Union project.

    He said: “The European Union must not and will not back down, and the protocol of Ireland and Northern Ireland must and has to be respected by the British government. This is international law.”

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  • 5 часов, 52 минуты назад 30.09.2022Politics
    Truss urged to embrace role as leader of free world as US left makes Britain its bogeyman

    Liz Truss can be the “conservative leader of the free world” a Washington insider has said but warned the UK has become “the new bogeyman for the American woke left”. Nile Gardiner, director of the Margaret Thatcher Center at the Heritage Foundation, said attacks on the Queen after her death in the New York Times “is just the beginning” of an onslaught on Britain.

    Mr Gardiner, who previously worked for Margaret Thatcher, made his comments amid reports that Ms Truss has insisted that the term “special relationship” between the UK and US is ditched.

    She has also put trade talks between the two countries on the back burner after the Biden administration used it as a means to threaten the UK over the Northern Ireland protocol.

    After the Queen’s death earlier this month the New York Times caused outrage by attacking her legacy and claiming she was a colonial figure while also questioning the cost of the state funeral.

    The Democrat-supporting newspaper claimed she “helped obscure a bloody history of decolonisation” among other comments branded “inappropriate”.

    Speaking to Express.co.uk, Mr Gardiner said: “People in the UK need to understand that this is just the beginning.

    “They need to know that the woke American left in the Democrats are coming after Britain because Britain stands for everything that they oppose.”

    He noted that the relationship between the UK and US governments is at its “most tense” since the Sue crisis in 1956.

    “The problem is that the American woke left identify in Britain many things that they hate.

    “They hate British history and tradition, they hate Brexit, now there is a tax cutting government as opposed to a big state one they hate that too.”

    He added: “A lot of the toxic woke attacks are now going to come across the Atlantic aimed at the UK and Liz Truss’s government needs to stand up to it.”

    Mr Gariner noted that the anti-British sentiment is “a minority view” as is the one against the Royal family.

    He said: “Millions of people in the US watched the Queen’s funeral, there was non-stop coverage from most of the main broadcasters.

    “To his credit Joe Biden had the flags at half mast on federal buildings for a week.

    “People were genuinely moved and both Britain and the Royal family are generally very popular here.”

    But he noted that the anti-UK sentiment had its links to the Biden administration.

    “Biden’s advisors particularly dislike Brexit and of course, the Irish lobby is very influential when it comes to Northern Ireland.

    “They don’t like the idea of countries striking it alone, they want governments which agree with their big state high tax solutions.”

    But he said Ms Truss now has a chance to fill the void left by the American leadership.

    “She can be the conservative leader of the free world.

    “A lot of people are interested in what she has to say and the UK is in a position, now it is free of the EU, to provide some alternative leadership.”

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Politics Truss in 'no doubt' that lower taxes will lead to economic growth