In a decisive speech, Shadow Chancellor Mel Stride will emphasize the Conservative Party's commitment to fiscal responsibility, denouncing the unfunded tax cuts of Liz Truss's mini-budget. The previous fiscal plans, which included £45 billion in tax cuts and insufficient funding strategies, severely damaged the party's reputation. Stride acknowledges that while the party swiftly corrects its course, restoring credibility will take considerable time and requires genuine acknowledgment of past mistakes. He asserts that never again will the party jeopardize economic stability with unaffordable promises, marking a significant shift in their fiscal philosophy.
Stride emphasizes that the Conservatives will not repeat the economic mistakes of the past, highlighting the importance of responsible fiscal discipline over unfunded tax cuts.
He notes that despite swift actions to limit damage from Truss's mini-budget, the long-term repercussions on the party's credibility will take time to repair.
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