Budget u-turn: Kwarteng needs to go

EMBARGO: Immediate release

Responding to the news that the government are considering a humiliating u-turn on corporation tax, Liberal Democrat leader Ed Davey said:

“This U-turn would come too late for many struggling families facing mortgage misery.

“The only way to restore credibility is for Kwasi Kwarteng to resign or be sacked. This Chancellor has done enough damage and needs to go.

“His botched Budget then needs to be scrapped altogether and replaced with a fair and responsible plan, including emergency support for mortgage borrowers bearing the brunt of this Conservative chaos.

“Too many homeowners are being forced into making heartbreaking decisions because Truss and Kwarteng decided to hand out unfunded tax cuts for the super wealthy. They will never forgive the Conservatives for this disastrous experiment, playing fairytale economics with people’s lives.”

ENDS