Robert Jenrick launched a scathing attack on Liz Truss’s disastrous mini-Budget, describing it as “careless” and “un-conservative” as the party attempts to rebuild public trust after its difficult recent past.
Addressing a packed-out room at the Conservative Party conference, the shadow justice secretary said former prime minister Ms Truss had made “big mistakes” when her mini-Budget spooked the financial markets in 2022 and led to a spike in mortgage rates and her eventual resignation.
Mr Jenrick also dismissed any speculation about his potential leadership ambitions, telling his audience Kemi Badenoch would lead the Tories into the next election.
The Conservative Party is currently attempting to win back trust with its members and the wider public, particularly on the economy and migration – with the conference’s slogan this year being, “Stronger Economy, Stronger Borders”.
But a new poll conducted by YouGov for Sky News found that half of all Conservative members think Ms Badenoch should not lead the party into the next election.
The poll of 652 Conservative members, taken between 26 September and 2 October, found 46 per cent think the current Tory leader should stay in place when the country next goes to the polls, while 50 per cent say she should not.
Speaking on Monday, Mr Jenrick said: “I thought the mini-Budget was careless, cack-handed and un-conservative.
“There were big mistakes from that period. We have to be honest about that, and in doing so, we can begin to rebuild the public’s trust.”
Former prime minister Liz Truss hit back at Mr Jenrick in a post on X. She said that what is really dishonest and un-conservative is “driving wealth creators and successful companies out of the country with tax rises that end up increasing the country’s debt”.
Ms Truss added: “This is exactly what the policies pursued by Rishi Sunak and Rachel Reeves have done. Rob is a self-styled critic of the Blairite establishment but has completely failed to take on their false narrative about 2022 or mention the role of the Bank of England.
“The Bank admit two thirds of the gilt spike was down to their failures on pensions oversight. Until the Conservative Party is honest about what happened in 2022, they are destined to remain at 16 per cent in the polls.”
Mr Jenrick’s intervention came hours after shadow chancellor Mel Stride unveiled proposals to slash £47bn of government spending if the party wins power, and promised to abolish business rates for high street shops and pubs.
Speaking in a half-empty conference hall, he also pledged to offer young people a £5,000 “first job bonus” as he sought to position the Tories as the party of “fiscal responsibility”.
He said the Conservative Party would bring taxes down but would “only do so when it is affordable”, promising to never make the mistakes Ms Truss made in her mini-Budget.
“We will bring taxes down. We must. But we will only do so when it is affordable, just as Nigel Lawson did, because we know where the alternative path leads.
“We saw that with a mini-Budget in 2022. So let me be clear, the Conservative Party will never ever make fiscal commitments without spelling out exactly how they will be paid for.
“We are and will always be the party of fiscal responsibility. Labour have trashed the finances and it will only be the Conservative Party, our Conservative Party, that can be trusted to fix them.”
Mr Jenrick – who is seen as the main rival to Ms Badenoch – used Monday’s event to dispel rumours about his leadership ambitions despite the Tories battling devastating approval ratings and a growing number of defections to Reform UK.
“There was a leadership election and the party made its choice. Kemi is our leader. I am in her shadow cabinet, I wouldn’t have chosen to serve in the shadow cabinet if I didn’t believe in Kemi, if I didn’t want her to succeed,” he said.
“I’m rooting for her and trying to support her in every way that I can. So that is what each and every one of us should be doing right now.”
Asked whether he would rule out a leadership bid if there was a vacancy, Mr Jenrick said: “Well, there isn’t a vacancy, and I don’t expect that there will be.
“My expectation is that Kemi will lead his party into the next general election.”
The Independent has contacted Ms Truss’s office for comment.
