In a seven-minute TV address, Jeremy Hunt scrapped almost all of his predecessor’s mini-Budget, including the cut in the basic rate of income tax. The Energy Price Guarantee was reduced from two years to six months. Before Hunt formally announced the measures to the House of Commons, Penny Mordaunt assured MPs that Liz Truss was not “hiding under a desk”.
The Prime Minister was having a series of meetings with MPs in her parliamentary office. That evening she gave an interview to the BBC. Truss admitted that “mistakes were made” so far in her premiership, but that she would “lead the Conservatives into the next general election”. MPs began calling for her to resign. She met with the One Nation caucus to bolster support.
With acknowledgments to Harry Cole and James Heale‘s Out of the Blue: the Inside Story of the Unexpected Rise and Rapid Fall of Liz Truss