Rishi Sunak refuses to apologise six times for Truss’s economic turmoil

Published

3 years ago

November 16, 2022

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Rishi Sunak has refused to apologise for the economic turmoil Liz Truss’s short-lived government caused the British people.

The prime minister, who is in Bali for the G20 summit, refused six times today to say sorry for the decisions his predecessor made, which caused severe and continuing financial turbulence.

He acknowledged that “mistakes were made” by Ms Truss and her chancellor Kwasi Kwarteng, whose unfunded £45bn tax cuts sent mortgage rates soaring, and created a run on sterling and a gilt market freefall.

Raab bullying claims an ‘open secret’ – politics latest

However, every time he was asked by Sky News’ political editor Beth Rigby to apologise, he repeated that errors were made and said: “What I want to do now is fix them.”

He admitted there are “difficult decisions” to be made to get the economy back on track, but he is “prepared to do difficult things”.

Mr Sunak added: “I spent the summer talking about the challenges that our country faces, talking about what I thought was required to grapple with those and fix them to build a foundation which we could provide jobs and growth and prosperity for people over time.

“So I think that people know where I stand on all of these issues. And now that I’m prime minister, I’m going to make sure that we deliver on that.”

Although Mr Sunak spoke out against Ms Truss’s plans for the economy during the summer’s leadership campaign, he said he would not vote against her mini-budget.

He said since he took over the reins, there is now “much more stability in the UK’s financial position in terms of what the UK is paying to borrow money and what’s happened to the pound”.

Mini-budget cost UK £30bn

Analysis released on Monday by the independent Resolution Foundation think tank found Ms Truss’s mini-budget cost the UK £30bn, doubling the sum the Treasury says will have to be raised by Jeremy Hunt, the chancellor.

Mr Hunt will seek to tackle that £60m “black hole” in the autumn statement on Thursday.

The chancellor told Sky News over the weekend there will be tax rises for everybody, although the most wealthy will have to contribute more, and he will announce a rise in the national living wage.

Mr Sunak said the government has a plan “to limit the increase in mortgage rates that will bring inflation down”.

“I think that people can be reassured that we will put a plan together that will do that, and that is what you will see on Thursday,” he added.

“I think the chancellor has been very clear about the challenges we face. It’s right that we’re upfront and honest with the country about the scale of the challenge we face.

“But what we’ve also said is that the way we go about that will have fairness and compassion at the heart of those decisions.”

Mr Sunak is on his second major international visit as PM, after the COP27 climate change talks in Egypt last week.

He said he is “hopeful” he will have a meeting with Xi Jinping, the Chinese president, and said his country poses a “systemic challenge” to the UK’s values and interests.

On Tuesday morning, Ukrainian president Volodymyr Zelenskyy spoke over a videolink to the leaders of the 20 biggest economies, including Russian Foreign Minister Sergei Lavrov who is there on behalf of Vladimir Putin.

Mr Zelenskyy, who previously called the summit the G19 as he missed out Russia, told the group now is the time to stop the war in Ukraine.

There is doubt over whether a joint communique over the Ukraine war will be produced at the end of the summit as it would have to be approved by Russia.

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Trump’s USAID cuts could lead to 14 million deaths, report warns

Published

10 hours ago

July 1, 2025

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Trump's USAID cuts could lead to 14 million deaths, report warns

Around 14 million people could die across the world over the next five years because of cuts to the US Agency for International Development (USAID), researchers have warned.

Children under five are expected to make up around a third (4.5 million) of the mortalities, according to a study published in The Lancet medical journal.

Estimates showed that “unless the abrupt funding cuts announced and implemented in the first half of 2025 are reversed, a staggering number of avoidable deaths could occur by 2030”.

“Beyond causing millions of avoidable deaths – particularly among the most vulnerable – these cuts risk reversing decades of progress in health and socioeconomic development in LMICs [low and middle-income countries],” the report said.

USAID programmes have prevented the deaths of more than 91 million people, around a third of them among children, the study suggests.

The agency’s work has been linked to a 65% fall in deaths from HIV/AIDS, or 25.5 million people.

Eight million deaths from malaria, more than half the total, around 11 million from diarrheal diseases and nearly five million from tuberculosis (TB), have also been prevented.

USAID has been vital in improving global health, “especially in LMICs, particularly African nations,” according to the report.

Established in 1961, the agency was tasked with providing humanitarian assistance and helping economic growth in developing countries, especially those deemed strategic to Washington.

But the Trump administration has made little secret of its antipathy towards the agency, which became an early victim of cuts carried out by the Department of Government Efficiency (DOGE) – formerly led by Elon Musk – in what the US government said was part of a broader plan to remove wasteful spending.

In March, US Secretary of State Marco Rubio said more than 80% of USAID schemes had been closed following a six-week review, leaving around 1,000 active.

The US is the world’s largest humanitarian aid donor, providing around $61bn (£44bn) in foreign assistance last year, according to government data, or at least 38% of the total, and USAID is the world’s leading donor for humanitarian and development aid, the report said.

Between 2017 and 2020, the agency responded to more than 240 natural disasters and crises worldwide – and in 2016 it sent food assistance to more than 53 million people across 47 countries.

The study assessed all-age and all-cause mortality rates in 133 countries and territories, including all those classified as low and middle-income, supported by USAID from 2001 to 2021.

World

Thai PM Paetongtarn Shinawatra suspended amid outrage over leaked phone call

Published

13 hours ago

July 1, 2025

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Thai PM Paetongtarn Shinawatra suspended amid outrage over leaked phone call

Thailand’s prime minister has been suspended after a leaked phone call with a senior Cambodian politician caused outrage.

An ethics investigation into Paetongtarn Shinawatra is under way and she could end up being dismissed.

The country’s constitutional court took up a petition from 36 senators, who claimed dishonesty and a breach of ethical standards, and voted 7 to 2 to suspend her.

The prime minister’s call with Cambodia’s former leader, Hun Sen, sparked public protests after she tried to appease him and criticised a Thai army commander – a taboo move in a country where the military is extremely influential.

Ms Shinawatra was trying to defuse mounting tensions at the border – which in May resulted in the death of one Cambodian soldier.

Thousands of conservative, nationalist protesters held a demo in Bangkok on Saturday to urge her to step down.

Her party is clinging on to power after another group withdrew from their alliance a few weeks ago over the phone call. Calls for a no-confidence vote are likely.

Deputy prime minister Suriya Juangroongruangkit will take over temporarily while the court looks into the case.

The 38-year-old prime minister – Thailand‘s youngest ever leader – has 15 days to respond to the probe. She has apologised and said her approach in the call was a negotiating tactic.

The popularity of her government has slumped recently, with an opinion poll showing an approval rating of 9.2%, down from 30.9% in March.

Ms Shinawatra comes from a wealthy dynasty synonymous with Thai politics.

Her father Thaksin Shinawatra – a former Manchester City owner – and aunt Yingluck Shinawatra served as prime minister before her – in the early to mid 2000s – and their time in office also ended ignominiously amid corruption charges and military coups.

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Benjamin Netanyahu to meet Donald Trump next week amid calls for Gaza ceasefire

Published

19 hours ago

July 1, 2025

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Benjamin Netanyahu to meet Donald Trump next week amid calls for Gaza ceasefire

Israeli Prime Minister Benjamin Netanyahu will be meeting Donald Trump next Monday, according to US officials.

The visit on 7 July comes after Mr Trump suggested it was possible a ceasefire in Gaza could be reached within a week.

On Sunday, he wrote on social media: “MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!!”

At least 60 people killed across Gaza on Monday, in what turned out to be some of the heaviest attacks in weeks.

According to the Hamas-run health ministry, 56,500 people have been killed in the 20-month war.

The visit by Mr Netanyahu to Washington has not been formally announced and the officials who said it would be going ahead spoke on condition of anonymity.

An Israeli official in Washington also confirmed the meeting next Monday.

White House Press Secretary Karoline Leavitt said the administration was in constant communication with the Israeli government.

She said Mr Trump viewed ending the war in Gaza and returning remaining hostages held by Hamas as a top priority.

The war in Gaza broke out in retaliation for Hamas’ 7 October 2023 attacks on southern Israel that killed 1,200 people and saw a further 250 taken hostage.

An eight-week ceasefire was reached in the final days of Joe Biden’s US presidency, but Israel resumed the war in March after trying to get Hamas to accept new terms on next steps.

Talks between Israel and Hamas have stalled over whether the war should end as part of any ceasefire.