Mark Francois trashed Rishi Sunak’s economic plan to help UK economy recover | Politics | news

The Conservative MP and leader of the European Research Group discussed the announcement that lead candidate Liz Truss would release the details of an emergency budget in just weeks. Mr Francois went on to discuss the possibility that Britain is facing another recession that other experts have warned of. The Conservative MP said Ms Truss believes a recession can be avoided by cutting taxes. Many experts have urged the government to release plans on how best to restore the UK economy amid the ongoing cost of living crisis.

Mr Francois told Talk TV: “Well, in fairness, Liz said we should be on a very short-term budget in weeks.

“But the reason she said that is a different circumstance than in 2010.

“The reason she said that is because the Bank of England is now predicting we could go into recession.

“We experienced a very slight slump in growth in the past quarter.

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“And Liz believes we can avoid this recession by making targeted tax cuts and really booster rocketing the UK economy.

“So she wants an early budget, not because we’re running out of money, but because we need to keep the economy from going into recession.

“And she made that very clear, and I believe you can’t tax yourself on recovering from a pandemic, you can only outgrow yourself on recovering from a pandemic.

“For example, a 6% corporate tax hike, as Rishi is proposing, but Liz is clearly against, won’t help growth just have the opposite effect, so Liz wants to budget early but keep the economy out of recession.

“Gordon Brown, it was a very different circumstance.

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The Joseph Rowntree Foundation’s executive chairman, Paul Kissack, said: “People are already selling what they own, taking on risky debt and building up arrears that they may never be able to repay.”

“And things are only going to get a lot worse.”

“The planning of a comprehensive support package must start immediately.”

“Without them, vulnerable people will face a large-scale disaster as winter sets in.”

“The consequences of idly watching are unthinkable.”

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