It followed a short-lived rebound on Tuesday after reports that the chancellor could be bringing forward the highly anticipated fiscal plan and official economic forecast.īut concerns that the government has taken on too much debt while ploughing ahead with sweeping tax cuts have continued to spook investors since the unveiling of last week’s mini-budget. The pound had hit a three-week high against the dollar in early session trading, taking it to around $1.147 dollars. Sterling dipped by 1.4% to $1.1312 shortly after Liz Truss told the conference that the government was making “difficult but necessary” choices to stimulate economic growth.
The pound has wiped out its gains from earlier in the day, falling in value against the US dollar following the prime minister’s speech at the Conservative Party conference, PA Media reports. “Sky News much better for a cab, but to be fair it would take about a week to get there on your own,” they added, referring to the channel’s headquarters in Isleworth, west London. But one intermittent “talking head” on BBC programmes said that the broadcaster had “got mean with taxis”.
Most broadcasters – ranging from the BBC and Sky News through to newcomers such as GB News – routinely pay for taxis for guests to travel to and from their studios, particularly for early-morning and late-night slots. Liz Truss drew cheers from the Tory faithful by listing her enemies in an “anti-growth coalition” who, she said in her conference speech, took taxis from north London townhouses to BBC studios “to dismiss anyone challenging the status quo”.īut ironically, one of the biggest complaints of BBC producers is that they can’t get north Londoners into cabs to defend the status quo – because the UK’s pundit class has become so used to doing much less time-consuming Zoom interviews from their spare rooms.Īnd unlike Sky and other channels, the BBC has a growing reputation for being stingy on appearance fees – the modest sums that are used to entice pundits on air.Īsked about the comments made by Truss, the BBC was reluctant to engage – perhaps weary of crossing swords with a Conservative leader who has previously mocked the broadcaster by saying that it did not have the “high quality standards” of GB News.Ī BBC spokesperson said that any questions about the prime minister’s speech should be for No 10. The IEA called for the abolition of the 45% top rate of income tax – a move included in the mini-budget, but dropped on Monday after a revolt at party conference. The thinktanks may be alarmed at indications that Truss is retreating from her libertarian agenda. Truss must now put words into action to tackle the cost of government crisis.
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To go for growth, Britain has to break free from the shackles of our gruelling tax system and the sluggish status quo. The prime minister was right to give both barrels to the enemies of enterprise. In its response to the speech, John O’Connell, its chief executive, said: The Taxpayers’ Alliance, another free-market thinktank arguing for a smaller state, also said it was up to Truss to deliver on the philosophy she set out.
She now needs to return to this theme if she’s going to achieve today’s message of ‘growth, growth, growth ’. But in a press release responding to the speech, Mark Littlewood, the IEA director general, just said:ĭuring her leadership campaign Truss spoke about ‘delivery, delivery, delivery’. Truss has been a strong supporter of the IEA, and much of her policy agenda overlaps with what the IEA has been calling for. The Institute of Economic Affairs, a libertarian thinktank, sounded surprisingly underwhelmed in its response to Liz Truss’s speech. 16.02 BST Libertarian thinktanks challenge Truss to show she will deliver on her growth agenda
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