Prime Minister Liz Truss has reversed her policy to scrap the planned rise in corporation tax from 19% to 25%. Ms Truss told a press conference she was elected by her party to deliver a "low tax, high wage, high growth economy" and "that mission remains".
Earlier today she sacked Kwasi Kwarteng as Chancellor after just 38 days following the adverse reaction to last month's mini-budget. Jeremy Hunt, the former foreign secretary and health secretary, has replaced him.
Speaking at a press conference in Downing Street, the Prime Minister said: "My conviction that this country needs to go for growth is rooted in my personal experience. I know what it's like to grow up somewhere that isn't feeling the benefits of growth. I saw what that meant. And I'm not prepared to accept that for our country.
