The Prime Minister is facing a growing drumbeat of discontent overshadowing the Tory conference after she insisted she would “support” her plans to lower the top rate of income tax and limit public spending cuts. Michael Gove launched a dramatic broadside on the Trust’s economic plans, saying it was “not conservative” to fund tax cuts by borrowing or cutting the welfare budget and warning she had to change course or risk her mini-budget being voted down. But Kwasi Kwarteng, the chancellor, will pledge on Monday to “stay the course” with a “robust, credible” plan that he insists is “underpinned by an ironclad commitment” to fiscal discipline despite the economic turmoil unleashing mini- budget. Truss offered a modicum of regret for the way the mini-budget was received, after it led to a temporary collapse in the pound, a rebuke from the International Monetary Fund and warnings that interest rates could rise again. The prime minister tried to play down anger over her handling of the economy, but then strongly reaffirmed her tax plans and refused to rule out cuts in public spending and a fall in real terms in benefits to pay for them. He told the BBC’s Sunday with Laura Kuenssberg programme: “I accept that we should have laid the groundwork better, I accept that and I’ve learned from it and I’ll make sure in the future we do a better job of laying the groundwork. “ But he added: “I think there has been too much focus in politics on the visuals or how things look – as opposed to the impact they have on our economy.” “I believe in getting value for money for taxpayers,” she said, promising they would remain “excellent public services” but warning it would be a “difficult and stormy” winter. After less than a month in office, Truss has faced criticism from many in her own party over measures such as scrapping the cap on bankers’ bonuses and cutting the 45pc tax rate. in an effort to push for growth, and has been beaten in the polls. On Sunday night, as he made a surprise appearance at a Tory conference party, winning a standing ovation at the Conservative Home event after he said he had delivered a “package of tax cuts and supply-side reforms to turbo-charge our economy”. . But Tory spokesmen admitted concerns the conference room could be half-empty for her speech on Wednesday, with MPs leaving early due to the train strike, so WhatsApp messages have been sent to local Tory chairs asking them to encourage members to stay. As a large crowd of protesters gathered outside the Birmingham conference, a senior Tory official admitted the “bad party” – the label Theresa May used on the Conservatives in 2002 – was back. “Nobody says those words, but it’s basically what everyone thinks when they see what we’re proposing,” they said. Cabinet minister Robert Buckland hinted at his discomfort with tax cuts that disproportionately benefit the rich, saying that while simplifying tax brackets made sense, he wanted to see “intelligent interventionism” rather than “incremental economics”. The Welsh secretary said at a fringe event: “A sensible Conservative government needs to be very careful to make sure that at the other end of the equation, those most in need are not left behind. “We must remember that those who are in real need are the ones who will also need our help as a government. We must not shirk our responsibilities in this regard, even if it means that for the time being there must be greater expenditure.” Senior Tory MP Damian Green warned the party would lose the next election if it did not change. “It’s funny politically that if we end up painting ourselves as the party of the rich and the party of the already successful, then, funnily enough, most people won’t vote for us and we lose,” he said. Archie Bland and Nimo Omer take you to the top stories and what they mean, free every weekday morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Indicating he hoped there would be a review, the former cabinet minister added: “Quite clearly, there are discussions to be had about the direction of the government as we move between now and the general election.” Former transport secretary Grant Shapps also criticized the measures, saying the move to scrap the 45pc tax rate. In an op-ed for The Times, he wrote that the government should not “give big gifts to those who need them least,” adding: “When there is pain, pain must be shared.” Jake Berry, the Tory party chairman, sparked fury among his peers when he said MPs would have to back the tax measures or they would no longer be allowed to sit as Conservatives, with at least 14 expressing public concern and warning that comments are at risk of “breaking”. the dam’ and forcing more into the open. Rebel MPs will not have a chance to test support for the controversial measures for several months. No 10 is now understood to be planning a vote on the tax cuts in March, likely after a spring budget. The only immediate legislation needed is on stamp duty and scrapping the rise in national insurance, which Tory MPs will support. But in a frantic day of interventions on Sunday, Michael Gove said he supported moves to rein in energy bills, but the fact that 35% of additional borrowing in the budget statement went to unfunded tax cuts left him “deeply” concerned . “There are two major things that are problematic with the fiscal event,” he said. “The first is the huge risk of using borrowed money to finance tax cuts. This is not conservative. The second thing is the decision to cut the interest rate to 45p, and at the same time change the law on how bankers are paid in the City of London. “Ultimately, at a time when people are suffering … when you have extra billions of pounds at stake, to make a key decision, the headline tax move, the tax cut for the richest, is a display of wrong values.” Pressed on whether he would vote against the package in the Commons, he finally admitted: “I don’t think it’s right.” At a fringe event later, he added: “If a mistake has been made, then I think the right thing to do is to acknowledge it and correct the course.” Speaking at the Tory conference on Monday, Kwarteng, who was revealed to have attended a private champagne reception with fundraisers after delivering his mini-budget, will say: “We have to face the facts that for too long our economy has not has developed quite a bit. The path ahead was a slow, managed decline. “We needed a new approach, focused on increasing economic growth. This is the only real way to achieve higher wages, more jobs and, importantly, revenue to fund our valuable public services, and it is the only way to achieve long-term fiscal sustainability… I am confident that our plan is the right one.” .
