British PM Liz Truss promises to listen as she draws flak for tax policy U-turn

Birmingham, October 4

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After abandoning a tax cut for the wealthy that sparked a storm of opposition, British PM Truss insisted on Tuesday that she was leading “a listening government” that learns from its mistakes. “I think there’s absolutely no shame in a leader listening to people and responding, and that’s the kind of person I am,” she said.

She is spending her first Conservative Party conference as leader this week scrambling to reassure financial markets spooked by her government’s see-sawing economic pledges, while trying to restore her authority with a party that fears its chance of reelection is crumbling.

“We have learned from the feedback we’ve received,” she said. That feedback has been dramatic: Truss’ four weeks in office have seen the pound plunge to record lows against the dollar, the Bank of England take emergency action and the opposition Labour Party surge to record highs against her Conservatives in opinion polls.

Now Truss also faces a battle with her party over her economic plans, with some lawmakers warning they will oppose any attempt to slash welfare benefits to help pay for lower taxes. Truss said “no decision has been made yet” on whether to cut benefits and pensions in real terms by raising them by less than inflation. — Agencies