Liz Truss explains her economic agenda to Conservatives

• Prime Minister Liz Truss says she should have done more to “lay the ground” for her economic plan.
• She defended her “growth plan,” which is a set of tax cuts that many economists have criticised.
• Some Conservative lawmakers worry that her comments will hurt their chances in the election.

British Prime Minister Liz Truss tried to reassure her party and the public by saying she should have done more to “lay the ground” for an economic plan that led to the pound falling to record lows and government borrowing costs going up.

Truss, who had been in office for less than a month but was already under a lot of pressure, tried to soften the mood on the first day of her party’s annual conference by saying she would help the public through a hard winter and beyond.

She defended her “growth plan,” which is a set of tax cuts that investors and many economists have criticised because it calls for spending billions of pounds but doesn’t say how it will be paid for in the short term.

Truss said it was a step in the right direction and implied that she hadn’t fully explained to critics how bad Britain’s problems were and why a radical plan was needed right away. Traders and investors have said that this argument is not a good reason for why the pound fell and borrowing costs went up last week.

But some Conservative lawmakers worry that Truss’s comments will hurt their chances in the 2024 election because he didn’t deny that the plan would require cuts to public services and wouldn’t promise to raise welfare benefits to keep up with inflation. Instead, he supported a tax cut for the wealthiest people.

When asked what she was doing to calm people’s fears in Britain about how her plan would affect mortgage, loan, and rental costs, Truss told the Media , “I understand their worries about what has happened this week.” She said this in the city of Birmingham in central England.

“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.”

Jake Berry, the leader of the Conservative Party, said that the markets may have overreacted, but he admitted that he was not an economist. He told the media  “Let’s see where the markets are in six months.”

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