Priti Patel breaks cover to warn Tory Party could 'die' following Liz Truss's tax cuts

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“Otherwise, interest rate rises, inflation and instability may mean that the growth never arrives, debt balloons further, and taxes go back up.

“It is our responsibility to do what it takes to achieve that sustainably by careful management of public spending.

“Because the Conservative Party lives or dies by its ability to manage the nation’s finances well.

“None of this will be easy. It will involve difficult and bold decisions.”

Yesterday Chancellor Kwasi Kwarteng was forced to U-turn on his plans to axe the 45p top rate of tax due to anger from backbenchers.

A brewing rebellion risked leading to the Government being defeated in a Commons vote on the matter.

But high profile Conservatives are pushing for Ms Truss to go further and U-turn on other controversial policies such as scrapping the cap on bankers’ bonuses.

The Prime Minister has also been warned to stick to a pledge made by Rishi Sunak for benefits to rise in line with inflation.

Ms Truss said earlier today that decision on benefits uprating would be made “in due course”.

More to follow…



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