Chancellor Kwasi Kwarteng has insisted the government is focusing on “delivering the growth plan” and “protecting people right across the country”.
The chancellor, who announced his mini-budget last Friday, said without the government’s plans it could not generate the income and tax revenue needed to pay for the public services “we want to see”.
He said the mini-budget was “absolutely essential” for growth when asked if the plans have been a major economic disaster as the pound plummeted and the Bank of England had to step in to stop a run on pension funds.
And asked what he would say to people whose mortgage interest rates have risen dramatically, with many offers cancelled, Mr Kwarteng said: “We’re absolutely protecting people right across the country”.
Earlier today, Prime Minister Liz Truss insisted the government’s tax-cutting measures are the “right plan” in the face of rising energy bills and said they will get the economy growing.