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Get behind Liz Truss, Chancellor Jeremy Hunt tells Tory MPs Jeremy Hunt warns Tory MPs against trying to oust PM
(38 minutes later)
Jeremy Hunt has appealed to Tory MPs to get behind Liz Truss, as she battles to restore credibility with backbenchers.Jeremy Hunt has appealed to Tory MPs to get behind Liz Truss, as she battles to restore credibility with backbenchers.
A series of damaging U-turns over her tax-cutting plans has led to some MPs to talk privately about how to remove her from office.A series of damaging U-turns over her tax-cutting plans has led to some MPs to talk privately about how to remove her from office.
But her new chancellor told the BBC a fresh leadership campaign was "the last thing that people really want".But her new chancellor told the BBC a fresh leadership campaign was "the last thing that people really want".
He insisted Ms Truss remained in charge of the government's direction.He insisted Ms Truss remained in charge of the government's direction.
Mr Hunt warned that "difficult decisions" would be necessary at a fresh budget at the end of this month to restore the UK's economic credibility.Mr Hunt warned that "difficult decisions" would be necessary at a fresh budget at the end of this month to restore the UK's economic credibility.
He told Laura Kuenssberg he was not "taking anything off the table", including further reversals of tax cuts from last month's mini-budget.He told Laura Kuenssberg he was not "taking anything off the table", including further reversals of tax cuts from last month's mini-budget.
Chancellor warns of tax rises and cuts on spendingChancellor warns of tax rises and cuts on spending
Bank of England chief warns of interest rate hikeBank of England chief warns of interest rate hike
Who is in charge? Liz Truss or Jeremy Hunt?Who is in charge? Liz Truss or Jeremy Hunt?
Mr Hunt replaced Kwasi Kwarteng on Friday, after Ms Truss fired the former chancellor. His sacking followed market turmoil in response to £45bn of unfunded tax cuts included in the mini-budget.Mr Hunt replaced Kwasi Kwarteng on Friday, after Ms Truss fired the former chancellor. His sacking followed market turmoil in response to £45bn of unfunded tax cuts included in the mini-budget.
In a humiliating U-turn, Ms Truss also announced she would reverse planned cuts to corporation tax she had put at the centre of her Tory leadership campaign. In a series of humiliating U-turns, Ms Truss abandoned plans to scrap the top income tax rate and reversed planned cuts to corporation tax she had put at the centre of her Tory leadership campaign.
According to reports, she is also preparing to delay by a year her 1p cut to the basic rate of income tax. The Treasury has not confirmed the reports, adding: "We cannot speculate on any tax changes outside of a fiscal event."
Asked whether he could rule out scrapping more of the tax cuts, Mr Hunt said he wanted to keep as many of the cuts "as I possibly can", but warned "I'm not taking anything off the table".Asked whether he could rule out scrapping more of the tax cuts, Mr Hunt said he wanted to keep as many of the cuts "as I possibly can", but warned "I'm not taking anything off the table".
"We are going to have to take some very difficult decisions both on spending and on tax," he said in the interview, which was recorded on Saturday. "We are going to have to take some very difficult decisions both on spending and on tax," he said an interview with Laura Kuenssberg, which was recorded on Saturday.
'She's changed'
"Taxes are not going to go down as quickly as people thought and some taxes are going to go up," he added."Taxes are not going to go down as quickly as people thought and some taxes are going to go up," he added.
"So it's going to be very, very difficult and I think we have to be honest with people about that.""So it's going to be very, very difficult and I think we have to be honest with people about that."
He said every government department would be asked to make savings, but that the scale of cuts would be less than under his predecessor George Osborne during the period of austerity which began in 2010. Mr Hunt will hold talks with the prime minister at Chequers, her official country residence, on Sunday
He added that Ms Truss's overall goal of promoting economic growth remained the same, but she had changed "the way we're going to get there". He said the government's debt reduction plan, due in two weeks' time, would be a "very big fiscal statement", and that every government department would be asked to make savings.
However, he insisted the changes would not be "anything like" the period of austerity which began in 2010, when predecessor George Osborne oversaw large cuts in public spending.
Despite the U-turns, Mr Hunt insisted Ms Truss remained committed to her goal of promoting economic growth, but she had changed "the way we're going to get there".
"She's listened, she's changed, she's been willing to do that most difficult thing in politics which is to change tack," he added."She's listened, she's changed, she's been willing to do that most difficult thing in politics which is to change tack," he added.