Beautiful Virgin Islands

Thursday, Sep 18, 2025

UK's Liz Truss Vows No Spending Cuts To Pay For Tax-Slashing Plans

UK's Liz Truss Vows No Spending Cuts To Pay For Tax-Slashing Plans

Liz Truss said she was "absolutely" committed to pledges made during the summer's Tory leadership campaign to maintain current spending

Britain's beleaguered Prime Minister Liz Truss vowed Wednesday not to cut public spending, once again defending last month's uncosted tax-slashing mini-budget that has sparked weeks of UK market turmoil.

Appearing in parliament for the first time since the contentious September 23 plans prompted economic upheaval, Truss said she was "absolutely" committed to pledges made during the summer's Tory leadership campaign to maintain current spending.

With currency, bond and other markets spooked by the extra borrowing earmarked to pay for tax cuts, fears have grown that Truss will slash government department budgets, returning to the unpopular austerity policy of a decade ago.

But the 47-year-old leader insisted that would not happen, while doubling down on her tax plans and reducing debt.

"What we will make sure is that over the medium-term the debt is falling," Truss told MPs, in only her second "Prime Minister's Questions" session in the House of Commons since succeeding Boris Johnson early last month.

"We will do that not by cutting public spending but by spending public money well," she added. Her policies would "protect our economy", she argued.

Truss also insisted her controversial economic package announced by Chancellor of the Exchequer Kwasi Kwarteng to reduce several different taxes would result in "higher growth and lower inflation".

'Lost in denial'


But the initial impact from it has been uniformly negative. The pound has plunged to unprecedented lows against the dollar, while government borrowing and mortgage rates have spiralled.

The Bank of England has been forced to make several emergency interventions in bond markets, while the economy unexpectedly shrank in August after slender growth the previous month amid a cost-of-living crisis and rocketing energy bills.

Labour leader Keir Starmer accused Truss of being "lost in denial" and "ducking responsibility" as she refused to acknowledge the economic fallout from her policies, instead blaming global factors such as the war in Ukraine for unsettling markets.

Media reports have suggested that the mini-budget -- already watered down with the scrapping of plans to axe the top rate of tax -- could be further revised during a line-by-line review.

But Truss's spokesman rubbished the claims immediately after her weekly House of Commons questions.

"We are committed to the measures that the Chancellor set out in the growth plan," he told reporters.

Truss was "firmly of the view that is the right approach to take to ensure we move away from low or no growth", he added.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
Kash Patel erupts at ‘buffoon’ Sen. Adam Schiff over Russiagate: ‘You are the biggest fraud’
Homeland Security says Emmy speech ‘fanning the flames of hatred’ after Einbinder’s ‘F— ICE’ remark
Charlie Kirk’s Alleged Assassin Tyler Robinson Faces Death Penalty as Charges Formally Announced
Actor, director, environmentalist Robert Redford dies at 89
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
JD Vance Says There Is “No Unity” with Those Who Celebrate Charlie Kirk’s Killing, and he is right!
Trump sues the 'New York Times' for an astronomical sum of 15 billion dollars
Florida Hospital Welcomes Its Largest-Ever Baby: Annan, Nearly Fourteen Pounds at Birth
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
×