Liz Truss

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      in US Politics

      Joe Biden calls Liz Truss tax cuts a ‘mistake’ as political fallout continues

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      Joe Biden calls Liz Truss tax cuts a ‘mistake’ as political fallout continuesUS president rejects ‘cutting taxes on the super-wealthy’ and says he is not the only world leader critical of abandoned plan00:39Joe Biden has called Liz Truss’s abandoned economic plan that sent financial markets into chaos and caused a sharp drop in the value of the pound a “mistake” as criticism of her approach continued.The US president hinted that other world leaders felt the same way about her disastrous mini-budget, saying he “wasn’t the only one” who had concerns over the lack of “sound policy” in other countries.Biden said it was “predictable” that the new British prime minister was forced on Friday to backtrack on plans to aggressively cut taxes without saying how they would be paid for, after Truss’s proposal caused turmoil in global financial markets.His comments on Sunday to reporters at an ice-cream parlour in Oregon marked a highly unusual intervention by a US president into the domestic policy decisions of one of its closest allies.“I wasn’t the only one that thought it was a mistake,” Biden said. “I think that the idea of cutting taxes on the super-wealthy at a time when … I disagree with the policy, but it’s up to Britain to make that judgment, not me.”Labour leapt on the US president’s remarks. The shadow foreign secretary, David Lammy, said: “As well as crashing the economy, Liz Truss’s humiliating U-turns have made Britain’s economy an international punchline.“President Biden knows the dangerous folly of trickle-down economics. His comments confirm the hit our reputation has taken thanks to the Conservatives.”Biden has repeatedly poured scorn on so-called trickle-down economics and before his first bilateral talks with Truss in New York last month tweeted that he was “sick and tired” of the approach, which he claimed had never worked.Mini-budget went ‘too far, too fast’, says Jeremy HuntRead moreBiden’s comments came after weeks of White House officials declining to criticise Truss’s plans, though they emphasised they were monitoring the economic fallout closely.The US president was speaking during an unannounced campaign stop for the Democratic candidate for governor, Tina Kotek. Democrats face a tough US political environment amid Republican criticism of their handling of the economy.Biden said he was not concerned about the strength of the dollar – it set a new record against sterling in recent weeks, which benefits imports but makes US exports more expensive to the rest of the world.He claimed the US economy was “strong as hell” but added: “I’m concerned about the rest of the world. The problem is the lack of economic growth and sound policy in other countries. It’s worldwide inflation, that’s consequential.”Truss’s own new chancellor, Jeremy Hunt, has said Truss and his predecessor Kwasi Kwarteng’s mini-budget went “too far, too fast” as he effectively signalled the demise of the prime minister’s economic vision.“We have to be honest with people and we are going to have to take some very difficult decisions both on spending and on tax to get debt falling, but at the top of our minds when making these decisions will be how to protect and help struggling families, businesses and people.”Hunt is expected to announce that plans to reduce the basic rate of income tax next April will be pushed back by a year. The cut to 19% will now take effect at the time previously proposed by Rishi Sunak, the former chancellor who was Truss’s main leadership rival.TopicsUS foreign policyJoe BidenLiz TrussEconomic policyUS politicsConservativesnewsReuse this content More

    • 188 Shares199 Views

      in US Politics

      The Guardian view on moving the British embassy to Jerusalem: don’t do it | Editorial

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      The Guardian view on moving the British embassy to Jerusalem: don’t do itEditorialLiz Truss has promised a review, but relocating it would be shameful and stupid. That might not put off the prime minister – but it should Donald Trump’s relocation of the US embassy from Tel Aviv to Jerusalem in 2018 was incendiary. Widely criticised, including by the British government, it sparked protests and clashes in which Israeli security forces killed dozens of Palestinians. Though a superpower’s example offers cover to others, only four countries followed suit: Honduras, Guatemala, Kosovo – and Paraguay, which swiftly reversed course.Yet Liz Truss last week said that she was considering relocating the British embassy. The case against a move is logical, legal and practical as well as moral. East Jerusalem has been considered occupied territory under international law since the six-day war in 1967, and the future capital of a Palestinian state. Mr Trump’s proposals for an unworkable “peace plan” committed to Jerusalem as an “undivided” capital – Israel’s position. But British policy remains unchanged. Moving the embassy would tear up the commitment to any meaningful two-state solution. It would tacitly condone the march of illegal settlements. Palestinian doors would slam in the faces of diplomats, the British Council and others: longstanding suspicion of the UK has accelerated in recent years. Relations with other Middle East nations would suffer. All this for minimal, if any, benefit.The prime minister’s remarks came on the sidelines of the UN general assembly meeting where Yair Lapid voiced support for a two-state solution – the first Israeli prime minister to do so since 2017. This is a return to the rhetorical status quo ante, without either intention or ability to act upon his words, while the reality on the ground makes a peace deal ever more distant. There is no prospect of serious talks with Palestinians and minimal external pressure. While it may have been intended to sweeten his message on Iran, most have seen it in the context of November’s general election – Israel’s fifth in less than four years, and once again shaping up as a contest for and against former prime minister Benjamin Netanyahu (currently favoured by polls). The thinking is that Mr Lapid hopes to encourage voters on the left to turn out or, more likely, switch to him, keeping him at the head of the anti-Bibi bloc.It may also smooth relations with Joe Biden, who hailed his remarks, but has shown little real interest in the future of Palestinians. His administration vowed to reopen the consulate in Jerusalem, which served Palestinians, and the PLO mission in Washington; neither has happened. The president’s cursory trip to East Jerusalem and Bethlehem this summer looked like cover for his meeting with Saudi Arabia’s Mohammed bin Salman.Badly failed by their own leadership too, Palestinians feel not only frustrated and angry, but betrayed. Ms Truss’s review is further confirmation that they are right. Her brief tenure has already demonstrated that a policy’s badness, stupidity and unpopularity are not obstacles to embracing it: the opportunity to “challenge conformity” – ignoring officials’ warnings – may even be a spur. This is still more likely when Palestinians, rather than her own electorate, will pay. But Britain’s historical responsibilities, as well as international law, demand that it does better. It should keep the embassy in Tel Aviv, and not add to the damage already done.TopicsIsraelOpinionMiddle East and north AfricaBenjamin NetanyahuYair LapidLiz TrussUS politicsJoe BideneditorialsReuse this content More

    • 150 Shares169 Views

      in World Politics

      Ditching the Northern Ireland Protocol is unConservative and May Break the UK

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