Liz Truss said she is prepared to be unpopular with her tariff, which she believes will ultimately benefit the British economy.

Speaking to Sky News political editor Beth Rigby in New York, the prime minister defended any tax changes the government will make at the end of the week and said they will do it to keep the economy growing.

She also dismissed concerns about the government’s need to borrow more from energy companies and said she would not accept that cutting taxes would be unfair.

Major tax announcement this week – the slowest cost of living

Asked if she was prepared to be unpopular with her plans, Ms Truss said: “Yes, I am.

“What’s important to me is that we grow the British economy, because that’s what will ultimately deliver higher wages, more investment in towns and cities across the country, that’s what will ultimately deliver more money into people’s pockets, and it will also give us to set up services like National Health Service.

“And to get that economic growth, Britain needs to be competitive.”

He said that imposing taxes, placing “arbitrary taxes” on energy companies or having a high corporate tax in the absence of investment and growth, which “hurts the highest opportunities in this country.”

Ms Truss is reported to have defended Kwasi Kwarteng, the chancellor’s dregs cap on bank bonds during the mini budget announcement on Friday when he blamed “relatively low growth” on a lack of capital investment.

“We didn’t have enough capital investment and yet we have one of the best financial services centers,” he said.

“So what I want to see is that money being put to good use in the city of London across our country – and so I’m prepared to do whatever it takes to get the money flowing.”

Image:
Liz Truss Beth Rigby spoke at the State of the Union building before world leaders at the UN General Assembly

As he further pointed the way to bank statements and good taxes, the prime minister said: “I don’t accept the argument that cutting taxes is somehow unfair.

“I mean, what we know is that people on higher incomes generally pay more in taxes.

“So when they cut taxes, it’s often a disproportionate benefit to those who pay more taxes in the first place.

“We need to base our tax plan on what the most successful states are going to do, what is going to deliver in this economy that benefits everyone in this country.”

Although the Prime Minister was bullish about his tax plans, he admitted it will be a “tough winter”.

But Ms Truss added: “It is unwavering that my government is taking all the steps and is focusing every penny on going to the economy to make sure we have good austerity and that we can get the country out of this storm.

“We will get through it.”

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