Truss to 'turbo-charge economy' and slash EU red tape 'Put money in pockets'

Liz Truss has plans to “turbo-charge” the economy by introducing a rapid series of tax cuts and slashing European Union trade restrictions if her bid to become the next Conservative leader is successful. Her rival, Rishi Sunak, has been heavily critical of the Foreign Secretary’s economic policy, branding her strategy to combat inflation as “fantasy economics.” However, supporters of Ms Truss have said she will strive to put more money in people’s pockets by lowering tax burdens and taking control of soaring energy costs. Tory MP Ranil Jayawardena said: “I’ve worked with Liz Truss as the Department for International Trade and I know that she gets things done and she can be trusted to deliver.”

Mr Jayawardena worked alongside Ms Truss after being appointed as Minister for International Trade in May 2020.

Speaking on Talk TV, Mr Jayawardena continued: “She gets that people have concerns about the future of our country and she can be trusted to deliver on her promises.

“From cutting bills to families with a pause on the energy levies, cutting taxes by stopping the rise in corporation tax and reversing the new national insurance tax.

“This is the way that we should take our country forward. That’s how we grow our economy – you cannot tax your way to growth.”

Rising energy costs, which have become a core focus in the Tory leadership race, have hammered the funds of households across the nation.

With the energy price cap anticipated to rise to a staggering £3,592 this autumn, according to energy industry analyst group Cornwall Insight, thousands are under threat of entering fuel poverty as winter approaches.

Ms Truss has said: “I can assure people I will do all I can to make sure that energy is affordable and that we get through this winter.”

She has not ruled out introducing new grants to help cover fuel costs, however she added: “My priority is making sure we’re not taking money off people and  then giving it back to them later on.”

Read more: ‘Pledges by Tory hopefuls to help OAPs are just a drop in the ocean’

Leave a Reply

Your email address will not be published. Required fields are marked *