Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Daily Record
Daily Record
Politics
Peter Davidson

US President Joe Biden brands Liz Truss's mini-budget a 'mistake'

Joe Biden has taken aim at Liz Truss's mini-budget that led to chaos on the markets and to her sacking Kwasi Kwarteng as Chancellor.

The Prime Minister replaced Kwarteng with former Foreign Secretary Jeremy Hunt on Friday after a day of turmoil in Westminster.

Ahead of a meeting between Biden and Truss in New York last month he hit out at "trickle down" economic policies, associated in the United States with former President Ronald Reagan and Republicans. His White House, though, had previously declined to comment on the Truss plan, which initially foresaw scrapping the 45 per cent top income tax rate in England and Wales.

Biden said: "I wasn't the only one that thought it was a mistake. "I think that the idea of cutting taxes on the super wealthy at a time when - anyway, I just think - I disagreed with the policy, but that's up to Great Britain to make that judgment, not me."

On Saturday Jeremy Hunt said some taxes would go up and tough spending decisions were needed, saying Truss had made mistakes as she battles to keep her job just over a month into her term.

Hunt said the next two weeks will see the Government go through a process of taking "difficult decisions" that will affect "lots of walks of life".

Asked on the BBC's Sunday with Laura Kuenssberg if he looks at Liz Truss's performance and thinks she has been a confident leader, Hunt said: "Well I think she has been under extraordinary pressure. I know how difficult that job is."

Asked about public trust in the Tories to bring stability, he said: "I want people to know that we are going to make those difficult decisions in lots of areas, going to affect lots of walks of life, in order to do everything we can as a Government to bring back that stability.

"Now, the proof of the pudding is in the eating. There's now two weeks in which we are going to go through a process of doing that.

"But I think what the country will see at the end of that process is a Government that is willing to do the tough and difficult things to secure the long-term prosperity that we all want for our families."

To sign up to the Daily Record Politics newsletter, click here.

READ NEXT:

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.