Jimu News Reporter Hu Li
According to CNN on October 3, British Prime Minister Tras admitted that there was a mistake in the controversial "small budget" policy announced by his government last week, which caused the pound to fall to an all-time low and caused market chaos, but she still sticks to her policies.
On the morning of October 2 local time, Tras admitted before the opening of the British Conservative Party's fall convention that she "should lay a better foundation before the government's small budget plan was launched". She said she would stick to the "small budget" plan, saying she had "learned lessons" and "will ensure that she will be better prepared in the future."
Tras profile picture (Photo source: CNN)
Tras also said: "I understand people's concerns about what happened this week, but I support the announced package , and I also support what has become a fact."
It is reported that last week, Tras signed a plan to cut national insurance, which will disproportionately help wealthy people, reverse the increased corporate taxes in the plan, and lift the banker bonus cap. In addition, Tras will also significantly reduce stamp duty on buying a house. After Tras announced his fiscal plan, investors sold short-term British government bonds as fast as possible, with borrowing costs showing their biggest single-day gains since 1991 for more than five years, while the pound fell more than 3% against the dollar, reaching the level 37 years ago. Many economists praised her series of actions as "desperate" gambling.
A poll released by market research firm YouGov on September 30 showed that among the nearly 5,000 British people surveyed, 51% of the respondents said that Tras, who had only been in office for only three weeks, should resign, and only about 1/4 of the respondents believed that she should stay. In response to this result, Bloomberg analyzed that it was the measures of large-scale tax cuts in the "small budget" plan that triggered turmoil in the financial market and the outside world's concerns about the further expansion of British Treasury bonds, which exacerbated the "hard situation" of the Trass government. After
caused public anxiety, Tras carried out a "psychedelic" blaming action.
Tras said that the reform of this economic policy was not approved by her cabinet, but a decision made by Chancellor Kwoten. But she expressed her support for Kwoten's decision, and said: "My government has made the right decision. We are not living in a perfect world. We live in a very difficult world. Governments around the world are making difficult decisions."
(Source: Jimu News)
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