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Today in Focus

Truss and Kwarteng: counting the cost of chaos

Today in Focus

The Guardian

Daily News, News

4.6 β€’ 5.7K Ratings

πŸ—“οΈ 4 October 2022

⏱️ 30 minutes

🧾️ Download transcript

Summary

After delivering a mini-budget that caused financial mayhem, the chancellor backtracked on his headline tax cut – but has the political and economic damage already been done? Heather Stewart reports. Help support our independent journalism at theguardian.com/infocus

Transcript

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0:00.0

This is the Guardian.

0:10.1

Today, after more than a week of financial mayhem,

0:13.6

the Chancellor has abandoned a key tax promise.

0:17.4

What will it cost the economy and the government's reputation?

0:31.8

Thank you, Conference.

0:34.1

What a day.

0:36.0

It has been tough, but we need to focus on the job in hand.

0:42.3

What a day it had been.

0:45.4

As Quasi Quarteng, the UK Chancellor,

0:47.9

started his speech at the Conservative Party Conference in Birmingham.

0:52.3

He gripped the lectern tightly with both hands and the room fell silent.

0:58.6

A room full of Conservative Party members, MPs and the Prime Minister

1:04.7

looked back at him, waiting to hear how he'd rescue himself

1:08.9

from the political and economic mass that he'd set in motion.

1:16.1

I know the plan put forward only 10 years ago

1:19.8

has caused a little turbulence.

1:22.2

I get it.

1:23.3

I get it.

1:24.8

We are listening and have listened.

1:27.1

And now I want to focus on delivering the major parts of our growth package.

1:32.4

Ten days ago, Quarteng announced a bold new plan

1:38.5

that he said would boost spending and make billions for the economy.

...

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