A new chancellor and another U-turn for Truss
Political Fix
Financial Times
4.2 • 1.2K Ratings
🗓️ 14 October 2022
⏱️ 34 minutes
🧾️ Download transcript
Summary
A tumultuous week and a dramatic Friday as Liz Truss was forced to reverse on tax cuts again and sacked Kwasi Kwarteng. Doubts are growing over whether she can survive as prime minister.
Presented by Sebastian Payne with political editor George Parker, economics editor Chris Giles and associate editor Camilla Cavendish.
Produced by Anna Dedhar and Howie Shannon. The sound engineers were Breen Turner and Jan Sigsworth.
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Audio: Sky News / BBC
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Transcript
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| 0:33.2 | Liz Truss was forced to scrap yet another major part of her mini budget on Friday |
| 0:38.6 | in a humiliating new turn that saw the Prime Minister lose her Chancellor |
| 0:42.8 | and throwing to doubt whether she herself could even survive. |
| 0:46.2 | But it is clear that parts of our mini budget |
| 0:49.7 | went further and faster than markets were expecting. |
| 0:53.8 | So the way we are delivering our mission right now has to change. |
| 0:58.8 | We need to act now to reassure the markets of our fiscal discipline. |
| 1:05.2 | I have therefore decided to keep the increase in corporation tax |
| 1:09.9 | that was planned by the previous government. |
| 1:14.0 | Welcome to Payne's Politics, your central insider guide to Westminster |
| 1:18.4 | from the Financial Times, with me Sebastian Payne. |
| 1:22.0 | In this episode we'll be examining another extraordinary week in British politics, |
| 1:26.6 | including the sacking of quasi-quarting that a significant economic |
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