Speaking at Prime Minister’s Questions, Liz Truss reiterated her apology for the “mistakes” made in the mini-Budget and vowed to continue in post, despite being urged to resign by leader of the opposition, Sir Keir Starmer.
The Labour chief accused Truss of “crashing the economy”, asking why she was still in her position after her economic programme was scrapped and her previous chancellor, Kwasi Kwarteng, had been ousted.
It was the first time that Truss faced MPs since new chancellor Jeremy Hunt reversed almost all the mini-Budget tax cuts, and the PM signalled her intent to stay on, telling the chamber she was “a fighter, not a quitter.”
Truss said: “I have been very clear that I am sorry and that I have made mistakes.
“The right thing to do in those circumstances is to make changes, which I have made, and to get on with the job and deliver for the British people.”
Sir Keir hit back by accusing Truss of being responsible for soaring interest rates, telling MPs that working people had been left with “£500 more a month on their mortgages” for the PM simply to respond by “say(ing) she’s sorry.”
The Labour leader added: “What does she think, people will think and say: ‘that's alright, I don't mind financial ruin, at least she apologised’?”
The prime minister’s response was to call on Labour to understand the “economic reality” and that interest rates “were rising across the world”, not just in the UK.
Truss also accused Sir Keir of having “no idea”, “no plan” and “no alternative” to addressing the ongoing economic situation.
Later in the session, Truss confirmed that her government is planning to increase pensions in line with inflation, after chancellor Jeremy Hunt and her own official spokesman had hinted earlier this week that the triple lock could be compromised as the government looked for spending cuts.
Under significant pressure to reassert her authority, Truss has ensured that Tory MPs have been ordered to vote against a motion tabled by Labour to reinstate the fracking ban, or risk being suspended from the parliamentary party.
Speaking in the Commons, Tory MP William Wragg voiced his opposition to being forced into voting as such and said that he’d asked for a vote of no confidence in the PM.
The vote on the Labour motion will go ahead later on Wednesday.
Elsewhere on Wednesday afternoon, Suella Braverman resigned as home secretary just six weeks after being handed the role.
She becomes the second cabinet minister to leave following Kwarteng but claimed that her standing down was due to an “honest mistake” on her own part rather than a disagreement with Truss over policy.
According to BBC reports, Truss was advised that Braverman had stepped down over a breach of the ministerial code.
