SAWT BEIRUT INTERNATIONAL

| 2 December 2022, Friday |

UK’s Truss says she should have laid ground better for economic plan

On Sunday, British Prime Minister Liz Truss sought to comfort her party and the public, admitting she could have done more to “laid the groundwork” to try to mitigate market response, which saw the pound reach record lows and government borrowing prices skyrocket.

Truss, who has been in office for less than a month, took a gentler tone on the opening day of her ruling Conservative Party’s annual conference, attempting to reassure the people that she would care after them over a harsh winter and beyond.

But she stood by her “growth plan” that investors and economists have criticized for setting out billions of pounds of additional spending while offering very few details on how it would be paid for in the short term.

“I understand their worries about what has happened this week,” she told the BBC’s Sunday with Laura Kuenssberg show.

“I do stand by the package we announced, and I stand by the fact that we announced it quickly because we had to act, but I do accept that we should have laid the ground better,” she said.

    Source:
  • Reuters