Kwarteng must resign if pound reaches parity with dollar

Lib Dem Media Team: 020 4548 3828 Press@libdems.org.uk
EMBARGO: Immediate Release

The Liberal Democrats have challenged Kwasi Kwarteng to resign if the pound reaches parity with the dollar.

The call comes as the Chancellor Kwasi Kwarteng has refused to comment on the latest decline, leaving the currency at an all-time low against the US dollar. 

Commenting Liberal Democrat Treasury Spokesperson, Sarah Olney MP said: 

“By proposing a botched and out-of-touch budget then refusing to comment when it goes wrong, the Chancellor is showing contempt for British families and businesses.

“If the pound continues to plummet and reaches parity with the dollar, this would be an unprecedented national humiliation with devastating consequences. Kwasi Kwarteng would surely have no choice but to resign to restore confidence in our economy. 

“The Conservative budget had no plan to tackle spiralling inflation, sky-high bills and soaring interest rates, if they don’t act now families and pensioners will bear the brunt of their failure."

ENDS