Liz Truss urges Britain “to do thing differently”

• Prime Minister Liz Truss will try to regain her diminishing authority.
• She was forced to reverse one of her tax cuts less than 24 hours into her Conservative conference.
• Truss: “Everyone will benefit from the result – a growing economy and a better future”.

Prime Minister Liz Truss will use her first speech to the Conservative faithful as a leader to try to regain her diminishing authority.

Truss will double down on her claim that her plan is the appropriate one to handle Britain’s challenges after being forced to reverse one of her tax cuts less than 24 hours into her Conservative conference.

But with parliamentarians empowered after forcing one reversal of her goal to eliminate the top rate of tax, she faces a battle to get other, as-yet-undefined planks of her platform through parliament, potentially diluting her “radical” agenda and raising hints of an early election.

Truss will tell party members and parliamentarians that she will establish a “new Britain for the new period,” stressing that her government feels strong action is the best course to follow.

“For too long, the political debate has been dominated by how we distribute a limited economic pie. Instead, we need to grow the pie so that everyone gets a bigger slice, ” she will tell the party in Birmingham, a city in central England.

“That is why I am determined to take a new approach and break us out of this high-tax, low-growth cycle.”

The conference, once expected to be her crowning triumph after being elected prime minister on Sept. 6, has become more of a nightmare after her plan for $51 billion in unfunded tax cuts sparked market volatility and she reversed course on removing the highest tax rate.

The markets have stabilized after Britain’s central bank, the Bank of England, stepped in with a billion-pound package to prop up the bond market, while borrowing prices remain higher than before the Sept. 23 tax plans.

A government source claimed her finance minister, Kwasi Kwarteng, was considering pushing forward his medium-term budgetary plan to soothe the markets.

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Change means disruption

Truss will say on Wednesday that her government would have “an iron grip” on Britain’s finances and will discuss fiscal responsibility, taxpayer value, sound money, and a smaller state.

Her detractors assert that she relies on the flawed philosophy of “trickle-down” economics, which will only exacerbate social inequality and fail to produce a short-term investment.

Truss rejects this argument and will confess on Wednesday that “not everyone will be in favor” of her ideas, a likely hint that her reforms to spur investment and slash spending may not be popular with all.

At a time when tens of thousands of families are struggling with skyrocketing prices, some parliamentarians are concerned that she would betray her promise to increase welfare payments in accordance with inflation.

Truss has stated that her government has yet to decide on welfare payments, and ministers have stated that they are obligated to examine the data later this month.

Several legislators are of the opinion that there is no simple way to restore the Conservative Party’s status, given that recent polls indicate it trails the main opposition Labour Party by large margins and may be wiped out in an early election.

Some worry there is a risk that the Conservatives will once again become “the ugly party” – a moniker used 20 years ago by a senior party figure during a lengthy period of opposition.

However, Truss will reiterate that the only way to bolster the party is to “do things differently” to ensure growth.

“Whenever there is change, there is disruption. Not everyone will be in favor,” she will say. “But everyone will benefit from the result – a growing economy and a better future. That is what we have a clear plan to deliver.”

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