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LIZ Truss was last night preparing to ditch scrapping the 45p tax rate in a humiliating climb down.<\/p>\n
After a day of brutal Tory backlash the PM summoned her Chancellor to crisis talks where they drew up plans to ditch the controversial tax cut for people earning \u00a3150,000 and over.<\/p>\n The surrender will be a body blow to the new government just hours after Truss defended the move on TV as the \u201cright thing to do\u201d.<\/p>\n It followed a day of bitter Tory acrimony at the opening of their party conference in Birmingham.<\/p>\n It roared into action yesterday with Tory big beasts trading extraordinary blows over last month\u2019s tax-cutting mini-budget<\/a>.<\/p>\n After days of market turmoil and MPs\u2019 jitters the PM finally admitted she had blundered and should have \u201claid the ground better\u201d for her tax plans \u2014 but said she \u201chad to act\u201d.<\/p>\n READ MORE ON TORIES<\/strong><\/p>\n<\/p><\/div>\n THE SUN SAYS<\/p>\n Tories put Liz Truss at the helm & she has set her course – they must back her<\/p>\n \t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n<\/p><\/div>\n MEL STAND<\/p>\n I felt powerless amid domestic abuse hell\u2026 we must do better, Mel B tells Tories<\/p>\n \t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n The pound fell against the dollar after the mini-budget, but then did claw its way back up towards the end of the week.<\/p>\n And against doom-laden forecasts, the UK economy avoided going into recession.<\/p>\n However, Mrs Truss appears ready to bow to pressure from critics of the planned scrapping of the 45p tax rate.<\/p>\n The PM yesterday risked a rift as she said slashing taxes for the richest earners \u201cwas a decision that the Chancellor made\u201d.<\/p>\n \t<\/p>\n \t\t\t<\/a> <\/p>\n \t\t\t\t\t\t\t <\/p>\n \t<\/a><\/p>\n<\/div>\n <\/p>\n \t\t\t<\/a>\n\t\t\t\t\t<\/div>\n <\/p>\n \t\t\t\t\t\t\t <\/p>\n \t<\/a><\/p>\n<\/div>\n <\/p>\n \t\t\t<\/a>\n\t\t\t\t\t<\/div>\n <\/p>\n \t\t\t\t\t\t\t <\/p>\n \t<\/a><\/p>\n<\/div>\n <\/p>\n \t\t\t<\/a> <\/p>\n \t\t\t\t\t\t\t <\/p>\n \t<\/a><\/p>\n<\/div>\n <\/p>\n \t\t\t<\/a>\n\t\t\t\t\t<\/div>\n <\/p>\n \t\t\t\t\t\t\t <\/p>\n \t<\/a><\/p>\n<\/div>\n <\/p>\n \t\t\t<\/a>\n\t\t\t\t\t<\/div>\n <\/p>\n \t\t\t\t\t\t\t <\/p>\n \t<\/a><\/p>\n<\/div>\n \n\t\t\t\t\t<\/div>\n <\/p>\n \n\t\t\t<\/div>\n <\/p><\/div>\n \n\t<\/div>\n \n\t<\/div>\n Former Culture Secretary Nadine Dorries<\/a> said on Twitter: \u201cOne of Boris Johnson\u2019s faults was that he could sometimes be too loyal and he got that. However, there is a balance and throwing your Chancellor under a bus on the first day of conference really isn\u2019t it.\u201d<\/p>\n Downing Street warned anyone voting against the plans will be kicked out of the party \u2014 as a major row erupted on the first day of the gathering in the home of TV gangster Tommy Shelby\u2019s Peaky Blinders<\/a>.<\/p>\n The Sun has learned No\u200a10 will try to delay a vote on cutting the 45p rate of tax<\/a> until next March in order to give the economy time to pick up before forcing the issue with MPs.<\/p>\n Mrs Truss told the BBC: \u201cI do want to say to people, I understand their worries about what has happened this week. And I do.<\/p>\n \u201cI do stand by the package we announced and I stand by the fact that we announced it quickly because we had to act.<\/p>\n \u201cBut I do accept we should have laid the ground better. I do accept that. I have learned from that. And I will make sure that in future we do a better job of laying the ground.\u201d<\/p>\n In a day of open civil war, the PM;<\/p>\n Appearing live on Sunday morning TV with the PM, Michael Gove<\/a> launched an explosive attack saying Ms Truss had failed to make a case to abolish the 45p top rate levy during her winning leadership contest.<\/p>\n Mr Gove said the tax plan must be dropped, hinting he would vote against the plan.<\/p>\n He said she should only stick to halting the corporation tax rise and reversing the National Insurance rise<\/a>.<\/p>\n Mr Gove said: \u201cNow, personally I\u2019m wary of the changes that she\u2019s making in both those areas but she did win on that basis. But what was not discussed during the Conservative leadership election was the prospect of income tax cuts for the wealthiest.\u201d<\/p>\n He added: \u201cYou need to make sure that the changes that we make are in tune with the values on which Boris won the 2019 election, which are looking after the most vulnerable in our society.\u201d<\/p>\n Meanwhile, former Chancellor George Osborne<\/a> revealed it was \u201ctouch and go whether the Chancellor can survive\u201d.<\/p>\n Speaking to Channel 4\u2019s<\/a> The Andrew Neil Show, he said if Mr Kwarteng\u2019s speech goes badly tomorrow \u201cit\u2019s curtains\u201d. <\/p>\n He predicted that there will be a \u201chumiliating defeat\u201d in the House of Commons if the Government does not back down.<\/p>\n A source close to the Chancellor insisted that he and the PM are in ‘lockstep’ on tax decisions[\/caption]<\/p>\n And former Chief Whip Julian Smith<\/a> said: \u201cThe first job of an MP is to act in the interest of their constituents and in the national interest. We cannot clap for carers one month and cut tax for millionaires months later.\u201d<\/p>\n But a source close to the Chancellor insisted: \u201cWhile the Chancellor obviously makes all tax decisions, the Prime Minister and Kwasi are in lockstep on this.\u201d<\/p>\n Meanwhile, Mr Kwarteng will attempt to calm the financial markets following a week of turmoil following his announcement.<\/p>\n His \u201cgrowth plan\u201d was heavily criticised by the IMF and the Bank of England had to intervene<\/a> with a \u00a365billion injection to prop up pension funds on the verge of collapse.<\/p>\n Mr Kwarteng will tell delegates: \u201cI refuse to accept that it is somehow Britain\u2019s destiny to fall into middle income status or that the tax burden reaching a 70-year high is somehow inevitable. <\/p>\n \u201cIt isn\u2019t, and shouldn\u2019t be. We needed a new approach, focused on raising economic growth.<\/p>\n \u201cWe must stay the course. I am confident our plan is the right one.\u201d<\/p>\n Read More on The Sun<\/strong><\/p>\n<\/p><\/div>\n WORST NOEL<\/p>\n I’m so skint I’ll buy my Xmas presents from Poundland\u2026I go without electricity<\/p>\n \t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n<\/p><\/div>\n\n\n\n\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n
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