British Prime Minister Liz Truss will argue on Wednesday that disruption sparked by her economic plans will be worth it in the long run, using her first speech to the party faithful as Conservative leader to try to restore her dwindling authority.
Weakened after being forced into a U-turn on one of her tax cuts less than 24 hours into her party's annual conference, Truss willBut with lawmakers empowered after forcing a reversal of the cut to the top rate of tax,
"That is why I am determined to take a new approach and break us out of this high-tax, low-growth cycle." A government source also suggested Truss's finance minister, Kwasi Kwarteng, was considering bringing forward his medium-term fiscal programme - showing how the so-called "growth plan" of tax cuts and spending would be funded to try to calm the markets.
Foreign minister James Cleverly said the "bitter tasting medicine" would make the country stronger in the long run. "This is a blip. It's a necessary blip," he told Times Radio.
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