'Conservatives have always known this and we know it still. He sought to portray the Conservative Party as 'serious custodians of the public purse', saying: 'There is no path to higher sustainable growth without fiscal responsibility. We have a plan and we need to get on and deliver it. That is what the public expect from the Government.' It has been tough but we need to focus on the job in hand,' he said. The bombshell decision was apparently made in a late-night meeting with the PM in her hotel suite at the party conference - with the news swiftly leaking out. Official confirmation came at 7.25am, with Mr Kwarteng tweeting: 'We get it and we have listened.'īut watched by the PM, he swiftly went on the attack this evening as he swiped at the 'slow managed decline' under his predecessor Rishi Sunak.
Mr Kwarteng has had to tear up his text after the intense political drama overnight that saw him drop the commitment for people earning more than £150,000 a year, after it became clear dozens of MPs would refuse to back the move in the Commons. His appearance came after a tumultuous 24 hours in which the Chancellor and Prime Minister Liz Truss had first defended their decision to abolish the 45p top income tax rate and then capitulated in the face of widespread opposition and reinstated it. The Chancellor quipped 'what a day' as he started his address to the party faithful in Birmingham - before appealing for them to 'move on' with 'no more distractions'. Kwasi Kwarteng tried to laugh off the extraordinary climbdown on plans to scrap the top rate of tax as he delivered his Tory conference speech tonight.
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