Tory MPs threaten rebellion against Truss over mini-budget

Liz Truss is having trouble convincing Conservative MPs to support her divisive mini-budget; some are even ready to rebel outright out of concern that they will once again be labelled as the "ugly party."

Since she said she would "stand by" her plans to slash the highest rate of income tax and force through public spending cuts, the prime minister is dealing with a growing tide of unhappiness that is overshadowing the Conservative conference.

Truss' economic proposals came under fire from Michael Gove, who declared it was "not Conservative" to finance tax cuts by borrowing or cutting the welfare budget. He urged Truss to rethink her strategy or risk her mini-budget being rejected.

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But despite the turmoil his mini-budget has caused in the economy, chancellor Kwasi Kwarteng will promise to "keep the course" with a "solid, credible" plan that is "supported by an iron-clad commitment" to fiscal restraint on Monday.

Truss expressed some regret for how the mini-budget was received, which resulted in the temporary devaluation of the pound, a criticism from the IMF, and cautions that interest rates might be increased again.

In an effort to calm popular outrage over her economic management, the prime minister first strongly reiterated her tax proposals while refusing to rule out public spending cuts and a real terms decrease in benefits to pay for them.

After less than a month in power, Truss has received criticism from those within her own party over initiatives like as removing the 45p tax rate and capping bankers' bonuses in an effort to promote growth, and she has been badly beaten in the polls.

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