Prime Minister Liz Truss has defended her Government’s disastrous mini budget that nearly tanked the UK economy.
In her speech to the Conservative Party conference, Truss claimed her widely-criticised plan for tax cuts for the wealthy was motivated by “growth, growth, growth”.
Truss - who was interrupted by environmental protestors - also refused to rule out paying for the giveaways by slashing benefits for the poor.
Her Chancellor, Kwasi Kwarteng, was blasted for a mini budget that proposed a cut to the top rate of income tax, backed a reversal of corporation tax rises and lifted curbs on bankers’ bonuses.
The unfunded plans sent the pound into freefall and led to Kwarteng u-turning on cutting the 45p rate.
In a short speech, Truss told Tory delegates the u-turn had been made as the policy had become a "distraction".
But she said: “Cutting taxes is the right thing to do morally and economically.
“Morally, because the state doesn’t spend its own money: it spends the people’s money.
“Economically, because if people keep more of their own money, they’re inspired to do more of what they do best – that’s what grows the economy.
“When the Government plays too big a role, people feel smaller.
“High taxes mean you feel it’s less worthwhile working that extra hour, going for a better job or setting up your own business.
She added: “For too long the political debate has been dominated by the argument about how we distribute a limited economic pie.
“Instead, we need to grow the pie so that everyone gets a bigger slice.
“That is why I am determined to take a new approach and break us out of this high-tax, low-growth cycle.
“That is what our plan is about. It’s about getting our economy growing and rebuilding Britain through reform.”
Amid claims the tax plans could be funded through cuts to benefits, she said her Government would “always be fiscally responsible”.
She said: “We will keep an iron grip on the nation’s finances.
“I believe in fiscal responsibility. I believe in getting value for taxpayer money. I believe in sound money and a lean state."
Greenpeace confirmed that its activists were responsible for the protest during the Prime Minister’s speech at the Conservative Party conference.
In a tweet, Greenpeace said activists were there to “denounce the Prime Minister ‘shredding’ her party’s 2019 manifesto promises”.
“The PM is U-turning on fracking, strong climate action, and world-leading environmental protections.
“Who voted for this?”
SNP Westminster Leader Ian Blackford MP said: "Liz Truss has been a disaster for Scotland - and this arrogant speech demonstrates why Scotland needs independence to escape Westminster control and get rid of the Tories for good.
"The Prime Minister has taken a wrecking ball to our economy - and she is threatening people's mortgages, pensions, and household budgets with her incompetence. It's no wonder polls show she's even less popular than Boris Johnson in Scotland.
"This speech did nothing to reverse the damage she's done - and it offered no hope to those who will suffer if the Tories go ahead with devastating plans to impose £18billion austerity cuts, which threaten Scotland's public services, our NHS and people's incomes.
"With all of the Westminster parties signed up to a hard Brexit and broken Tory economics, it's clearer than ever that independence is the only way to keep Scotland safe."
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