Liz Truss has refused to debate fears that the UK is already in recession, insisting the downturn within the economic system is “a matter for the Bank of England”.
The Bank issued the warning final week – because it hiked rates of interest to 2.25 per cent, their highest degree for 14 years – however the prime minister argued it’s not her accountability.
The remark got here because the chancellor, Kwasi Kwarteng, claimed he couldn’t touch upon “market movements”, following the plunge within the pound after Friday’s tax-slashing Budget.
Speaking to CNN within the United States, Ms Truss additionally dismissed options of a referendum on Irish reunification now Catholics outnumber Protestants in Northern Ireland.
She insisted she desires a “negotiated solution” over the Northern Ireland Protocol, whereas indicating she is not going to again down over the battle that threatens a commerce warfare with the EU.
The prime minister was additionally requested about her obvious championing of “trickle-down economics” – the speculation that handing massive good points to the wealthy will profit all, condemned by Joe Biden.
She informed CNN’s State Of The Union programme: “We all need to decide what the tax rates are in our own country, but my view is we absolutely need to be incentivising growth at what is a very, very difficult time for the global economy.”
But, requested concerning the Bank of England’s warning that the UK might already be in a recession, Ms Truss replied: “That’s a matter for the Bank of England.”