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The National (Scotland)
The National (Scotland)
National
Abbi Garton-Crosbie

Liz Truss blames communication issues for economic panic and defends mini-budget

LIZ Truss "stands by" her government's mini-budget that sparked an economic panic, admitting that she should have "laid the ground better" before making the announcement of sweeping tax cuts. 

The Prime Minister faced a grilling on the BBC's Sunday with Laura Kuenssberg in Birmingham, where the Tory party are currently holding their annual conference, and refused to rule out any public sector cuts or commit to raising benefits in line with inflation. 

It comes after a week of economic turmoil after the International Monetary Fund (IMF) issued an extraordinary statement calling on Chancellor Kwasi Kwarteng to "re-evaluate" his tax plans, the Bank of England (BoE) was forced to stage an emergency intervention to stop a full-blown financial crisis and complete collapse of pension funds, and mortgage rates soared causing worries amongst homeowners. 

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