A warning from Liz Truss has come back to haunt her after footage showing her saying a tax cuts bonanza would lead to "boom and bust" was unearthed.
Scottish Conservative MSPs accused of 'hypocrisy' for backing Liz Truss tax cuts
28.09.2022 - 12:37 / dailyrecord.co.uk
The Scottish Conservatives have been accused of "hypocrisy" for supporting Liz Truss's tax cuts for the wealthy, despite several MSPs refusing to vote for her as leader. A group of prominent Tories endorsed Rishi Sunak's leadership campaign - which promised a focus on tackling inflation - before quickly embracing the new Prime Minister after the former Chancellor lost earlier this month.
Sunak previously warned that his opponent's plan to reduce income tax for the wealthiest and reverse a National Insurance rise would spook the international markets and risk a run on the pound. Sterling this week plunged to a 40-year low against the dollar while the cost of UK Government borrowing rocketed.
Liz Smith, Scottish Conservatives' finance spokeswoman, was among at least 10 MSPs to back Sunak over Truss. Party leader Douglas Ross refused to publicly endorse either candidate.
Writing in a London-based newspaper in August, a group of MSPs played up Sunak's electability - which they claimed would stop a deal between the SNP and Labour at Westminster. But Smith has now embraced the shock economic tactics unveiled by Truss and her chancellor, Kwasi Kwarteng, last week.
In a video shared before the pound crashed, she said: "It is very clear already the business community has made a positive response to the Chancellor's mini-budget, particularly in terms of policies designed for a low-tax and high-growth economy.
"But that's in contrast to what is happening in Scotland - where Scotland has been the highest-taxed part of the UK, but has also suffered lower growth rates. The message from business is for the SNP to match that agenda."
SNP MSP Rona Mackay said: "The hypocrisy of the Scots Tories really is quite breath-taking. They really do
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