Scotland’s First Minister has said the Prime Minister not having resigned is a sign of “how badly broken UK politics is”.
On Monday, new Chancellor Jeremy Hunt announced that most of Liz Truss’ financial agenda would be scrapped, signalling a significant U-turn by the Prime Minister after three weeks of turmoil in the financial markets.
The cut to the basic rate of tax followed the scrapping of the top rate cut, also being axed by the new occupant of No 11, while the plan to cap energy prices for two years was reduced to six months with a new targeted plan to be put in place after that.
The announcement came as Nicola Sturgeon was due to layout her Government’s plans for the finances of an economic Scotland, with a press conference pushed back to noon from 11am – the same time that the announcement from the Chancellor was scheduled.
Before speaking about the contents of the paper, the First Minister took a swipe at the Prime Minister – who finds herself fighting for her premiership.
“To say this is now a UK Government and a Prime Minister without a shred of credibility is an understatement,” she told journalists.
“Indeed, it is perhaps a sign of how badly broken UK politics is that the Prime Minister’s resignation has not already been tendered.”
Ms Sturgeon had come under some pressure to follow in the footsteps of the UK Government’s tax cutting agenda from Tories north of the border, but she said on Monday she would be dealing with “something of a financial disaster”.
I think she has just days left to turn this round and if she can’t do that she would have to stand down— Liz Smith, Scottish Tories
“It should, I think, be a relief for people across Scotland that the Scottish Government did not act so rashly.”
She went on to describe the decision to end the energy price cap earlier than planned as “galling”, but said she hoped Mr Hunt’s announcement would stabilise the markets.
The First Minister’s comments come as Liz Truss is fighting for her job as a result of a number of economic moves which have spooked the financial markets in recent weeks, with four of her own MPs calling on the Prime Minister to stand down.
Speaking on BBC Radio Scotland on Monday, senior Tory MSP Liz Smith said the Prime Minister had “just days” to turn things around.
“I think the Prime Minister is now in an extremely difficult position,” the party’s finance spokeswoman told Good Morning Scotland on Monday.
“So I think she has just days left to turn this round and, if she can’t do that, she would have to stand down.”
She added: “She is not being able to command the confidence of the nation, that any prime minister needs to be able to do. So I do think she has got days to turn this round.”
The MSP continued: “This is about the future of the country, and restoring credibility and it is absolutely essential we gain that trust back as quickly as possible because at the moment it has gone.”
Speaking about the possibility of a new leader, and how they could be selected, Ms Smith said it would be “a matter for the Westminster party how they decide to do that”.
However, she said: “I think it is possible it will coalesce around a candidate of unity, I think that is possible.”
Of her party’s situation, Ms Smith conceded: “It has not been a good time for the Conservative Party, I am not going to pretend otherwise.
“In fact, it has been a very difficult time. Over all the years I have been a member of the Conservative Party I think this is probably the most difficult.”
She stressed: “Storms happen from time to time. This is a big storm, we have to be measured and careful and, above all, candid in our approach.”
