Tories promise to avoid repeating Truss's mini-Budget

Mel Stride, the shadow chancellor of the UK Conservative Party, has made a strong statement promising that the party will "never, ever" repeat the mini-Budget introduced by former Prime Minister Liz Truss. This mini-Budget, announced in September 2022, included £45 billion in tax cuts and resulted in market chaos. The turmoil led to Truss's resignation after only 49 days in office. Stride has emphasized the importance of restoring public confidence in the Conservatives' approach to the economy ahead of the next general election. He has been a vocal critic of Truss's economic policies, which he believes failed due to a lack of clarity and planning. In a recent interview, he assured voters that the Tories will focus on sound money and prudent financial management. Supporters of Truss argue that her proposed tax cuts would have worked if she had been given more time in office. Truss has blamed various actors, including bureaucrats and the media, for the problems during her time as Prime Minister. After her mini-Budget, many of her proposed changes were reversed by her successor, Jeremy Hunt. Stride also criticized claims from Labour leader Keir Starmer and shadow chancellor Rachel Reeves about a £22 billion black hole in public finances, labeling them "fictitious." He pointed out that the upcoming emergency Budget will address significant economic issues, asserting that past decisions by the Labour government have contributed to rising interest rates and inflation.