Former British PM Truss brushes off Biden’s criticism of her budget: reports

Former British Prime Minister Liz Truss said she did not have time to listen to President Biden’s comments that his budget was a “mistake” in October because she was reportedly too busy dealing with energy and security issues.

Biden said on October 15, 2022 that the truce was a “mistake” to cut taxes for his country’s highest earners.
That week the Truce was forced to scrap a substantial part of its tax plan amid market turmoil and declining public confidence.

Britain’s Prime Minister Liz Truss addresses the media at Downing Street in London, Thursday, October 20, 2022. (AP Photo/Alberto Pezzali)

Biden broke his silence while eating ice cream with reporters in Oregon.

Britain’s youngest prime minister Liz Truss blames economic ‘conservatives’ for decline

“I wasn’t the only one who thought it was a mistake,” he said. “I think the idea of ​​cutting taxes on the super-rich was a time when – anyway, I disagree with the policy, but that’s for Great Britain to decide, not me.”

The Daily Express in the UK reported that Truss took part in his first TV interview with Katie Bowles and Fraser Nelson of Spectator TV since stepping down as prime minister and was asked when he heard of Biden’s criticism So where was she?

President Biden speaks at the White House. (Fox News)

Truss reportedly said, “Katy had quite a busy time, so I don’t remember exactly what I was doing.” “But we have gone through a very difficult time with the death and funeral of Her Majesty the Queen

Britain’s finance minister believes that the country cannot cut taxes until the rate of inflation comes down

“I actually went over and met President Biden at the United Nations,” she said. “We were dealing with energy issues then, but also dealing with very serious security issues – the Russian saber-rattling – so I really didn’t have time to call President Biden or be concerned about his comments because We needed to deliver in what was a very difficult situation.”

Truss reportedly told TV show hosts that the UK must do things differently to fix its low economic growth over the past 10 years. She also warned that the UK is falling behind other countries, adding “there is no doubt that there is a problem.”

The truce initially pushed for the abolition of the UK’s top tax bracket, effectively cutting taxes for citizens making more than $168,000 a year. While he scrapped that plan in early October, it did little to stabilize markets.

She eventually fired her Treasury chief and longtime friend, Kwesi Kwarteng, while also following through on a promise to repeal the increase in taxes on corporations.

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When Kwartenang first announced the truce’s tax cut plan in late September, the value of the British pound fell almost to parity with the US dollar. The walk-back of the truce has succeeded in increasing the value of the pound from $1.03 to $1.12.

Anders Hagstrom contributed reporting to this story.