Kwasi

Monday

Isabel Hardman

Are the Tories in the business of managing decline?

Kwasi Kwarteng's speech to Tory conference was an attempt to get his party back behind him after his U-turn on the 45p rate. He acknowledged it a number of times in his address, opening by saying it had been a 'tough' day, but insisted that the government needed to keep going. The members in the hall laughed as he referred to 'a little turbulence' and insisted that 'we are listening'. After the U-turn, it was quite audacious to insist the government had an 'iron commitment' to anything After the U-turn, it was quite audacious to insist the government had an 'iron commitment' to anything, but his commitment today was to 'fiscal discipline' and the 'central and guiding mission' of the government to grow the economy.

Kate Andrews

Everything’s under control, says Kwasi

You could tell Kwasi Kwarteng was aware of his words and tone as he delivered his Conservative party conference speech to a hall full of Tory members this afternoon. It was a delicate set of circumstances, with him having had to U-turn on his plan to abolish the 45p tax rate only this morning. But perhaps more importantly he learned a lesson after the mini-Budget: his words can move markets. And he’d be loathe to push them into freefall again. Kwarteng worked hard to compensate for the total lack of lip-service he had paid to fiscal discipline in his mini-Budget. He praised the UK’s status of having the ‘second lowest debt-to-GDP ratio in the G7.