‘Liz Truss must resign today,’ call from Plaid Cymru following Chancellor sacking

Liz Truss must resign today, Plaid Cymru has said, following the sacking of Chancellor Kwasi Kwarteng.

“Liz Truss hopes to save her zombie premiership by making a scapegoat of Kwasi Kwarteng,” Plaid Cymru Westminster leader, Liz Saville Roberts MP said.

“Let’s remember – she revelled in that awful term ‘Trussonomics’. She wrote the book on the ideology that seeks to inflict this fantasy economics experiment on our communities. She was the driver of this car crash. She must therefore take responsibility. 

“Liz Truss must recognise that the economic shock which has caused so much anxiety for people is her own fault. She must resign today.”

Kwasi Kwarteng was sacked as Chancellor, after returning to London early from a visit to the International Monetary Fund’s annual meeting in Washington.

The Prime Minister is set to hold a press conference later today.

Mr Kwarteng’s dismissal and a widely expected U-turn on scrapping the corporation tax rise would be part of an effort to reassure markets after the mini-budget turmoil.

Prime Minister Liz Truss’s press conference will come amid intense speculation that she will dismantle key elements of their controversial mini-budget, with the scrapping of the planned rise in corporation tax widely expected to be ditched.

‘Call a general election’

The Welsh Liberal Democrats have called for a general election.

“This economic crisis we have been facing wasn’t started by Kwasi Kwarteng alone, it was a direct consequence of Liz Truss’ economic fantasies,” Welsh Liberal Democrat Leader Jane Dodds MS said.

“The Conservatives have lurched from extreme to extreme over the last seven years, causing economic vandalism on a massive scale. We owe it to the households, individuals and businesses up and down Wales and the rest of the UK who have been hit hard by this crisis, to take firm action now.

“Across Wales, people are angry, fed up and worried about the future. Most of all, they are furious that Conservative MPs seem to think this is an acceptable way to conduct the government of our country in these difficult times.

“Enough is enough, Truss should call a general election. The public did not give her a mandate to pursue policies so radically different from the 2019 Conservative manifesto nor to trash our economy and cause families up and down the country hardship.

“The Welsh Liberal Democrats are prepared to fight a general election and play our role in removing the Conservative Party from power.”

‘Dear Prime Minister’

In his letter to Liz Truss, Kwasi Kwarteng wrote: “Dear Prime Minster.

“You have asked me to stand aside as your Chancellor. I have accepted.

“When you asked me to serve as your Chancellor, I did so in full knowledge that the situation we faced was incredibly difficult, with rising global interest rates and energy prices. However, your vision of optimism, growth and change was right.

“As I have said many times in the past weeks, following the status quo was simply not an option. For too long this country has been dogged by low growth rates and high taxation — that must still change if this country is to succeed.

“The economic environment has changed rapidly since we set out the Growth Plan on 23 September. In response, together with the Bank of England and excellent officials at the Treasury we have responded to those events, and I commend my officials for their dedication.

“It is important now as we move forward to emphasise your government’s commitment to fiscal discipline. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the backbenches.

“We have been colleagues and friends for many years. In that time, I have seen your dedication and determination. I believe your vision is the right one. It has been an honour to serve as your first Chancellor.

“Your success is this country’s success and I wish you well.”

‘Deeply sorry’

In her letter to Kwasi Kwarteng, Liz Truss wrote: “Thank you for your letter. As a long-standing friend and colleague, I am deeply sorry to lose you from the Government.

“We share the same vision for our country and the same firm conviction to go for growth.

“You have been Chancellor in extraordinarily challenging times in the face of severe global headwinds.

“The Energy Price Guarantee and the Energy Bill Relief scheme, which made up the largest part of the mini budget, will stand as one of the most significant fiscal interventions in modern times.

“Thanks to your intervention, families will be able to heat their homes this winter and thousands of jobs and livelihoods will be saved.

“You have cut taxes for working people by legislating this week to scrap the increase in National Insurance Contributions.

“You have set in train an ambitious set of supply side reforms that this Government will proudly take forward. These include new investment zones to unleash the potential of parts of our country that have been held back for too long and the removal of EU regulations to help British businesses succeed in the global economy.

“I deeply respect the decision you have taken today. You have put the national interest first.

“I know that you will continue to support the mission that we share to deliver a low tax, high wage, high growth economy that can transform the prosperity of our country for generations to come.

“Thank you for your service to this country and your huge friendship and support. I have no doubt you will continue to make a major contribution to public life in the years ahead.”