Asked if he had a message for the financial markets as he prepared to visit a local business in Darlington, Kwasi Kwarteng said: “Absolutely. We are sticking to the growth plan and we are going to help people with energy bills. That’s my two top priorities.”
The message from the Chancellor comes after a series of local BBC radio interviews from Prime Minister Liz Truss, the first time she has commented on the spiralling economic chaos since Friday’s mini-budget.
Liz Truss insisted the Government’s tax-cutting measures are the “right plan” in the face of rising energy bills and to get the economy growing despite market turmoil sparked by the Chancellor’s mini-budget.
The Prime Minister told BBC Radio Leeds: “We had to take urgent action to get our economy growing, get Britain moving and also deal with inflation.
“Of course that means taking controversial and difficult decisions but I am prepared to do that as Prime Minister because what is important to me is that we get our economy moving, we make sure that people are able to get through this winter and we are prepared to do what it takes to make that happen.”
She said the mini-budget was the “right plan”, in spite of mounting calls – including from the International Monetary Fund (IMF) – for a U-turn on some of the policies announced last Friday after the pound sunk to a record low of 1.03 against the US dollar on Monday.