About three weeks after Prime Minister Kwarsi Kwarteng’s mini-budget, a number of senior Conservative MPs have publicly called on the government to back down on plans to cut taxes paid from increased borrowing. .
Public criticism from Conservative MPs is mounting after Prime Minister Liz Truss yesterday said she was committed to public spending at current levels in response to the prime minister’s question.
With the scale of the proposed increase in borrowing worrying financial markets, a Monetary Institute report this week said the government would have to either cut spending by £62bn or raise taxes to avoid a rise in the national debt. suggests that there is of the economy.
Conservative Chairman of the Commons Finance Committee, MP Mel Stride, wrote on Twitter: Whether a plan that does not currently include any element of further tax cuts can actually satisfy the market.
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Last night, on BBC Radio 4’s ‘PM’ programme, former Deputy Prime Minister Damian Green quoted John Maynard Keynes saying it is wise to change your mind when the facts change. In response to the economic and political situation, Green called for the government to “postpone” some of the proposed tax cuts.
Mr. Green’s comments were later corroborated by David Davis MP, who mentioned many proposals for mini-budgets that are subject to change. Speaking on the ITV Peston show, Davis said: It’s an inflation tax,” he said, adding, “They might want to look back at the super-deductible rishi snack proposal.”
In a further sign of Conservative tensions, the editors of the pro-Conservative website Conservative Home are now wrote An article in which he openly considers the idea of a change in leadership. He questioned whether Rishi Sunak could return as Prime Minister with Penny Mordaunt. His articles are important given the site’s popularity among Conservatives and activists.
After the article, Foreign Secretary James Cleverley downplayed the idea that the prime minister could be forcibly removed from office. He told BBC Radio 4’s ‘Today’ program this morning: “I think a change in leadership is a disastrously bad idea, not only politically but also economically. We absolutely must focus on economic growth. I plan to keep doing it,” he said.
Another Conservative MP also suggested that most of his colleagues would support the mini-budget. Bob Seeley, whose formerly safe Isle of Wight seats are in danger of being overtaken by Labor in current polls, told BBC Newsnight: As a government, we have to make this work. ”
Last night the Prime Minister endured a difficult and rigorous interrogation behind closed doors at a meeting of the Conservative MPs’ Committee in 1922.
Today, Liz Truss is scheduled to hold a number of meetings with individual Conservative MPs in Downing Street, working to assuage their concerns and ensure support for the Prime Minister.
https://www.politics.co.uk/news/2022/10/13/more-conservative-mps-break-cover-to-call-for-a-mini-budget-u-turn/ More Conservative MPs break cover, call for mini-budget U-turn