Conservative Party conference 2022: Liz Truss is 'betting too much on tax cuts', says Michael Gove

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Michael Gove has suggested Liz Truss and the Government are "betting too much on tax cuts" funded through borrowing as he called for the decision to scrap the 45p top rate of income tax to be reversed.

The former Cabinet minister said that "my concern is the scale of that borrowing" which is being used to pay for the tax cuts.

Speaking at a Chopper's Politics podcast event hosted by The Telegraph at Conservative Party conference in Birmingham, Mr Gove said that he was worried the Government was "betting too much on tax cuts when we are borrowing to pay for them" and "that is not Conservative in my view".

Mr Gove said abolishing the 45p additional rate was "wrong". When asked if the decision should be reversed, Mr Gove said: "Yes."

However, Jake Berry, the chairman of the Conservative Party, argued that scrapping the top rate of income tax was the "right thing to do" and Tories should now be "going out there making the argument for a low tax, high growth economy".

​​Follow the latest updates below.

06:51 PM

Lord Pickles: 45p tax cut needed more explanation

06:37 PM

Behind the scenes: What does Truss want out of this week?

Here is Camilla Tominey, our Associate Editor, with the lowdown ahead of a crucial week for the Prime Minister:

06:34 PM

IDS: 'Social carnage' of lockdowns must never be repeated

Former Conservative Party leader Sir Iain Duncan Smith has said that the Covid lockdowns caused so much "social carnage" they must never be repeated, writes Camilla Tominey.

Speaking at an event for the Centre for Social Justice (CSJ) think tank, the MP for Chingford and Woodford Green said the collateral damage caused by shutting Britain down during coronavirus had been "staggering", adding: "It’s questionable how many lives actually that lockdown saved in the scale and the nature of it.

"We must never go down this road again."

Citing figures which show the gap in attainment between rich and poor pupils was at a 10-year high, he said children from less wealthy backgrounds were now 18 months behind their better off classmates thanks to schools being closed in 2020.

Sir Iain, who co-founded the CSJ in 2004, was speaking at a fringe event entitled The Children of Lockdown: Where are they now?

06:21 PM

Ben Wallace's closing remarks

Ben Wallace rejects the idea of turning to Labour, comparing Sir Keir Starmer to "Captain Mainwaring and his platoon".

"As the threat changes, so must the investment. Mr Starmer, will you match the Prime Minister's pledge of three per cent by 2030?"

Mr Wallace said he was "sorry to see Johnny Mercer leave the Government". The former veterans' minister departed when Liz Truss took office.

"Whatever the world may throw at us in the next few years, no one says it's going to be easy. You can make sure this team, along with the UK's Armed Forces, will be working day and night to defend us and keep us and our allies safe."

06:15 PM

Truss defence pledge is 'what we needed'

Ben Wallace says Liz Truss's pledge to increase defence spending to three per cent of GDP by 2030 was "what we needed" and the current global instability "will not go away by itself".

"What [Putin] didn't say was just as interesting... he never addressed the tens of thousands of Russian widows and mothers whose young men were sent to their deaths.

"Seeing Russia's behaviour changed the longstanding positions of two countries who were wedded to neutrality [Sweden and Norway]. I'm delighted they're now joining Nato, but how unnecessary this invasion has been and at a cost of huge suffering to all in Ukraine and wider.

"The Prime Minister is determined to invest in defence, stand up to Russia, stand by Ukraine and prepare us to face the threat of tomorrow.  The reality is we can't afford not to invest three per cent of GDP in defence and our Prime Minister understands that.

"To do so would imperil our security and risk having our Armed Forces out of step with our peers and more worryingly out of steps with our enemies."

06:10 PM

Ben Wallace: My mission is ending hollowing-out of forces

Ben Wallace jokes about the "musical accompaniment" from protesters who have been playing loud music outside of the ICC in Birmingham.

He says Liz Truss is "equally dedicated" to continuing Boris Johnson's levelling up mission, before praising the twin "constants" of the late Elizabeth II and the Armed Forces.

"They always display the finest qualities and dedication to duty," Mr Wallace says of British troops. "When I took the reins at the Ministry of Defence in 2019, I undertook to reform defence to ensure our forces had what they needed to do the task given to them by Government.

"But I also drew on my own experience to once and for all put a stop to the hollowing out of our forces. For decades, prime ministers had wanted more but chancellors had wanted less. In short, I was determined that whatever funding we got, it was spent to deliver a ready and deployable force, well-armed and well-trained."

He insists the priority must not be "shiny new toys" but "fixing what we have first".

06:01 PM

Johnson's first new role since leaving No 10

Boris Johnson will be the new president of the Conservative Friends of Ukraine, it has been announced, writes Maighna Nanu.

The news of the former Prime Minister's new role was revealed at a Friends of Ukraine reception at the Conservative Party conference.

John Whittingdale, the current president, and a Tory MP,  told the fringe event: "I am very happy that I will stand aside for a new president of CFU - somebody who in many ways is the obvious and most deserving person to lead this organisation.

"Because he was the first person not just in this country, but across the western world to so strongly come out and support [the Ukrainian] people. So I'm delighted that the next President will be Boris Johnson."

There has been lots of speculation about what Mr Johnson might do after leaving office.

05:51 PM

Welsh Secretary: Conservative values are what Wales wants

Conservative values are what Wales wants, Sir Robert Buckland has said in his speech to his party conference this afternoon.

"Mr Drakeford loves to proclaim that Labour values - an overreaching state and a managed economy - are Welsh values," Sir Robert told delegates. "[Adam] Price thinks that the people of Wales value independence above all else.

"I think we all know that they’re both wrong. We know that Conservative values resonate with people across Wales and across our entire United Kingdom. Let me tell you about what sets us apart."

Sir Robert rejected the idea of "more politicians" amid the creeping expansion of the Senedd, and said Welsh Conservatives "don't believe in the politics of place... we believe in the politics of people".

05:31 PM

'I'm really sorry'

Steve Baker has said he is "really sorry" to Ireland and the EU for "not always behaving" in a way that meant they would "trust us" during Brexit negotiations.

The new Northern Ireland minister - and former head of the European Research Group - appeared to change his tune from his previous backbench agitations as he said relations with Ireland "are not where they should be".

05:23 PM

Prince William to stay away from Cop27 along with his father, King Charles

No senior members of the Royal family will attend Cop27 after it was confirmed the King and Prince of Wales will not travel to Egypt - despite their long-term campaigning on the environment.

The King, who was widely expected to go in person before the death of his mother, will not attend on the advice of the Government.

The Prince will also not attend the Egypt summit or send a message, concentrating instead on his Earthshot Prize.

Hannah Furness has the story

05:07 PM

'They keep shouting, thank you'

During a panel discussion in the main hall, Jake Berry was heckled about the south west by a delegate.

"They keep shouting, thank you," the party chairman said. "Well thank you, sir... I'm going to come onto Andy [Street]."

04:54 PM

'Time is running out' on levelling up

Ben Houchen, described by Jake Berry as the "embodiment" of Conservative leaders delivering for Britain, accepts there was a "significant decline" in the north of England.

He puts the 2019 general election victory down to "Boris, Brexit and levelling up", and says Teesside, Darlington and Hartlepool have set out the "blueprint for what levelling up can be".

"We need to make sure that if we want to form that majority that we all want to see at the next election, we must deliver on levelling up and time is running out.

"They want to be proven right, and they want to vote for us again, but we've got to give them that excuse. So for everybody in this hall, to the Cabinet, to ministers, to MPs, the next two years are going to be one hell of a fight. Because whatever we do, we must start to deliver for the people of this country, we must start to level up, and I hope we can take this message from the conference today... and deliver that Conservative majority at the next election."

04:48 PM

Party chairman: Local leaders will deliver levelling up

Jake Berry says Tory voters "want us to prove them right - they want to stand in their pub and say I voted Conservative in 2019, and my town is getting better".

"Conservatives also know you can only deliver levelling up by going for growth. That's why we're going to drive down tax to level up our country."

If the party will win a historic fifth term in Government, he warns, "it's going to take a lot of historic hard graft... So conference, levelling up, it's a team game. Government can't do it on its own. It's a partnership between civic leaders and businesses.

"We are going to work with you all, those strong local leaders, because you are the ones who will deliver levelling up."

04:46 PM

Jake Berry likens Truss to Thatcher

Mr Berry quips that even though he may look a bit like Mick Lynch, "despite his best efforts we are going to have a great conference here in Birmingham".

"It would be a mistake for us to believe that 2019 general election vote was an unconditional vote for our party, the Conservative Party. And if we're going to hold those gains, in fact if we're going to build on those gains and win the next election, we know it's time to deliver, deliver, deliver.

"And let me tell you, our new Prime Minister knows how to deliver. Liz Truss is a woman of action, conference, as Margaret Thatcher told us, in politics, if you want something said you ask a man, if you want something done, who do you ask? You ask a woman. And of course we know that you can only level up by getting things done."

04:40 PM

Andy Street: Birmingham is bouncing back

Andy Street, the Tory West Midlands Mayor, says a "lot has happened" in the past four years and it has been a "difficult time" for Birmingham as Britain's conferencing capital.

"But the good news is with incredible resilience, teamwork and that Brummie ingenuity we are bouncing back, and the best evidence of that bouncing back is of course the wonderful Commonwealth Games this summer."

Mr Street says the West Midlands is so attractive because of the talent that is on offer and the best-qualified workforce the region has ever had.

He contrasts it with his old assumption growing up "we'd have to leave to get on in life... that's no longer true... that is levelling up in action."

04:32 PM

God save the King

The delegates have sung the National Anthem following the video tributes to the late Queen.

As writer and consultant Eliot Wilson points out, it is the first time God Save the King has been sung at conference since the Liverpool convention in 1951.

04:29 PM

'She should be recorded as Elizabeth the Great'

Sir John Major: "I found it both very cathartic, very interesting and something frankly that one looked forward to each week."

David Cameron: "It was an extraordinary treat to be able to go to Balmoral every year for six years, and one of the best parts was when in the evening you'd get into Her Majesty's car, a Range Rover, and she would drive at breakneck speed up the hill and onto the moor, and there at a converted old cottage on the hill would be the Duke of Edinburgh, with a barbecue he'd built himself, barbecuing grouse for your dinner. And I'm not making this up, you sat down and Prince Philip and Her Majesty the Queen served your dinner and cleared it away and washed it up while you sat talking to the other guests."

Mr Cameron said when he went to wash up himself, the Queen replied: "What on earth is the Prime Minister doing?"

Theresa May: "She was very humble, and I hope that there will be a legacy for the country of more of a sense of the importance of service and duty."

Boris Johnson: "I think there has been no other monarch in our history who has seen such a phenomenal increase in the prosperity, the opportunity and the longevity of the British people as she has in her reign. And for that reason alone, I think that she should be recorded as Elizabeth the Great."

04:24 PM

Further tributes from ex-Tory prime ministers

David Cameron describes his own first audience as "extraordinary" in the wake of the hung parliament in 2010.

Sir John Major recalls how "nothing was barred, nothing was out of court" during the weekly meetings.

04:20 PM

Former prime ministers' tributes to Queen

In video messages currently playing out, Boris Johnson described audiences with the Queen as an "incredibly nerve-racking experience... you're kind of worried that you're going to stuff it up".

"But after a few moments it becomes incredibly informal, and she's brilliant at asking questions that elicit a great torrent of stuff. And there's a lot of laughter, well there's certainly a lot with the audience I had."

Theresa May recalls her first audience being her invite to form a Government. "That moment when you have that first audience... it becomes real that you are prime minister. Her Majesty was so good at putting everybody at their ease.

"And both that audience and the audiences I then went on to have with her subsequently, they were conversations. She was incredibly well-informed. She had incredible knowledge, wisdom and understanding."

04:17 PM

Penny Mordaunt's closing remarks

King Charles will be Britain's new "balance wheel", Penny Mordaunt tells delegates.

"Do not forget what [the Queen] taught us, do not forget what we must do. Do not forget who we are. Thank you all, from the bottom of my heart."

04:12 PM

Boris will become Conservative Friends of Ukraine president

Boris Johnson will be the new president of the Conservative Friends of Ukraine, writes Maighna Nanu.

More to follow.

04:12 PM

Cabinet minister gives the BBC a pounding

A Cabinet minister attacked the BBC for failing to report the market's recovery following the fall in the value of the pound triggered by the mini-Budget, reports Tony Diver.

Chris Philp, the Chief Secretary to the Treasury, said the broadcaster had made more out of the pound's fall to a 35-year low than they did from its recovery.

"In terms of market turmoil, I think obviously the markets have settled down," he told a Conservative Party Conference fringe event run by the Institute for Economic Affairs.

"I noticed that when the currency went down, the BBC reported it on their front page and it was a big splash," he said.

"When it went back up again to the level it was at previously before the statement, the BBC and other outlets were remarkably silent on the topic.

"But I’m confident that when the full plans are set out in a few weeks’ time, any market questions will be categorically answered."

04:10 PM

Mordaunt in tribute to Elizabeth II's 'shining gift to the world'

Penny Mordaunt, leader of the Commons, says it has been just three weeks since the death of Elizabeth II.

"As we face new challenges without her, we would do well to keep her in our thoughts. History, after all, is experience. Remember, she became our Queen just seven years after the bloodiest conflict humanity has ever seen. We were a nation facing debt, hardship, rationing and the daunting task of modernising in the Empire.

"It was said on the King's death Britain had lost part of its balance wheel - that's part of a watch that keeps the beat, that keeps things steady. The world witnessed a young woman, pale with grief, pledge her whole life to our nation's service.

"Doubt and despair gave way to hope. Her pledge turned out to be a shining gift to the world. Every time we battled, we had Her Majesty alongside us, advising us, guiding us, unifying us all, and reminding us of the challenges we'd faced together in her long life - many much greater than we face now."

04:05 PM

Claps for Cleverly at Ukraine reception

James Cleverly receives a huge round of applause as he speaks at the Conservative Friends of Ukraine event, reports Maighna Nanu.

He tells the packed room: "We recognise that our support to Ukraine is not just about Ukraine. It is about a belief in freedom.

"Ultimately it is about the respect for the dignity of humanity. That's what our support to Ukraine is all about... This war must be won."

04:02 PM

Good afternoon

Dominic Penna, the Telegraph's Political Reporter taking you through the rest of the day at the Conservative Party conference here in Birmingham.

Soon we will hear from Ben Wallace, the Defence Secretary, and Penny Mordaunt, the leader of the Commons, in the first round of speeches in the main event hall.

03:46 PM

'Pitch rolling' for mini-Budget could have been better

Another dispatch from Tony Diver, The Telegraph's Whitehall correspondent, who is at a Conservative Party fringe event hosted by the centre-right think tanks the IEA and Taxpayers' Alliance.

Chris Philp, the Chief Secretary to the Treasury, has given Liz Truss's mini-Budget a score of 9.5 out of 10.

He said "pitch rolling" for the Government's tax cuts could have been improved but that the mini-Budget's substance would create economic growth.

03:35 PM

Truss mini-Budget an 'eight out of 10'

Gerard Lyons, one of Liz Truss's closest economic advisers, said he would give the Prime Minister's mini-Budget a score of eight out of 10.

But he said: "I was critical of the decision to cut the rate of [income] tax at that time... it should be implemented alongside other tax simplification measures."

He added that Ms Truss should have "stuck to what was said on the tin" during the leadership campaign. "The markets were fully on board with that," he said

03:29 PM

Truss risks undermining 'social contract' with tax cuts

One of Liz Truss's closest economic advisers has warned she risks undermining the "social contract" in Britain by cutting the top rate of tax and pursuing austerity at the same time, writes Tony Diver.

Gerard Lyons, who advised Ms Truss's campaign on economic matters, acknowledged that the markets had given her mini-Budget a "thumbs down".

"Take your target audience with you. This is not just about communication. Successful economies need to have clarity, predictability and credibility in terms of their strategy and policy," he said at a fringe event at Conservative Party Conference.

Liz Truss, the Prime Minister, is pictured at the Conservative Party's conference in Birmingham today - Toby Melville/Reuters
Liz Truss, the Prime Minister, is pictured at the Conservative Party's conference in Birmingham today - Toby Melville/Reuters

"There are probably four target audiences for this Government. The general public, firms, investors and the market.

"In the market, last week has probably been the sign of a thumbs down. Markets need to be convinced that changes in fiscal policy are necessary, not inflationary, and are affordable.

He added: "The social contract is a vital part of our post-war fabric and is seen, in my view, by the general public as critical to building a more enterprise economy. You cannot have a return to austerity and cut the top rate of tax at the same time."

03:18 PM

'Highly unlikely' Putin would use nuclear weapons

Ben Wallace, the Defence Secretary, said he thought it “highly unlikely” that Vladimir Putin would use nuclear weapons in the Ukraine conflict.

He told a Tory conference fringe event that while the use of tactical nuclear weapons was in the Russian military doctrine “we think it is highly unlikely he will do it”.

03:14 PM

Truss receives multiple standing ovations

Liz Truss received multiple standing ovations from Tory members during her speech to the National Convention this afternoon, writes Maighna Nanu.

Dinah Glover, of the Conservative Bethnal Green Association, said the mood in the hall was "really good" and very "pro Liz".

She said: "She [Truss] got several standing ovations. She was cheered, really positive. The questions were really positive."

Ms Glover said the Prime Minister came across as "very genuine" and "relaxed".

The National Convention is like the parliament of the Tory grassroots, comprising of association chairmen and officers from across the country.

02:58 PM

'It's a fact of democracy'

Jacob Rees-Mogg has played down the protests taking place outside the Conservative Party Conference in Birmingham as a “fact of democracy”.

Speaking to Sky News while being escorted through the crowd by police officers, Mr Rees-Mogg said: “There have been protests at Tory conferences since time immemorial, it’s nothing new. It’s a fact of democracy. They’re shouting but it’s perfectly peaceful.

“And the right to peaceful expression of your view is fundamental to our constitution.”

02:57 PM

One other thing from Jake Berry's interview...

... is that he gave a good indication of when the next general election could be.

The chairman of the Conservative Party told Chopper's Politics: “In the normal course of the electoral calendar it’s 18 months or so away.”

That would put polling day in April 2024.

Jake Berry is pictured in conversation with The Telegraph's Christopher Hope at Conservative Party conference in Birmingham - Geoff Pugh for The Telegraph
Jake Berry is pictured in conversation with The Telegraph's Christopher Hope at Conservative Party conference in Birmingham - Geoff Pugh for The Telegraph

02:31 PM

'Do I rule it out? No'

Ben Wallace has not ruled out a potential bid for the Tory leadership in the future, writes Dominic Penna. 

Speaking at a fringe event in Birmingham hosted by the Onward think tank, the Defence Secretary said he decided against the "scarcity of life" that would have come with being prime minister. He said he felt "fulfilled" in his current Cabinet job.

"I thought I saw a chance to get out of one of the leadership candidates to get right what I passionately feel and therefore I felt fulfilled and if I’m just left alone and the pledges are kept I can hopefully eventually walk off into the sunset when that eventual bus runs me over, which I’m sure it will, and feel that I’ve contributed," he said.

"At this time of life, the answer was no. Do I rule it out? No. But will I be here in a few years time? I don’t know."

02:21 PM

Wallace: Russia's allies 'deeply disagree' with Ukraine war

Ben Wallace has said Russia would be "deeply unhappy" to learn of some of the countries which are secretly helping the West with its military assistance to Ukraine, writes Dominic Penna.

Revealing that the ongoing war is currently taking up just under half of his time as Defence Secretary, Mr Wallace told Iain Dale at a fringe event in Birmingham: "There are a number of countries that do help and want to help, secretly.

"But Russia would be deeply unhappy to learn that some of the people they would try and like, or think they can rely on, deeply disagree with what is going on. And that’s a real credit to many of those countries."

Asked if he was surprised by the scale of European unity in the wake of the invasion, he said: “It hasn’t surprised me as much as it’s clearly surprised President Putin.”

02:06 PM

Key takeaways from Chopper's Politics podcast

The Chopper's Politics event has now finished. This is what we learned:

  1. The "rebel leader" emerges: Michael Gove is emerging as the leading Tory voice opposing Liz Truss's mini-Budget. His statement that he is worried the Government is "betting too much on tax cuts"  will have raised eyebrows in Downing Street. One thing is for sure: If Mr Gove is saying that in public there will be a lot of Tory MPs who privately feel the same way. He denied that he is now the "rebel leader" but it would appear that is the title he is now destined for.

  2. No backing down over 45p tax cut: Jake Berry insisted that getting rid of the 45p additional rate is the "right thing to do" and the Tories should be "going out there making the argument for a low tax, high growth economy". The Government clearly has no plans to change course on that particular issue.

  3. No free vote: Confirmation from Jake Berry that Tory MPs will not be offered a free vote on the mini-Budget. That means that if they vote against it they will almost certainly lose the Tory whip. High stakes.

01:57 PM

'Where we are now cannot continue'

Jake Berry said that for the Tories to win the next general election the Conservative Party must have a "reputation for being competent".

Asked what the Government will do to better address the migrant Channel crossings crisis, Mr Berry suggested that Suella Braverman, the Home Secretary, will have an announcement later this week on the matter.

He said that tackling the small boats crossings issue "is going to be key to demonstrating competence".

"Where we are now cannot continue," he added.

Jake Berry, the chairman of the Conservative Party conference, is pictured in Birmingham this afternoon  - Geoff Pugh for The Telegraph
Jake Berry, the chairman of the Conservative Party conference, is pictured in Birmingham this afternoon - Geoff Pugh for The Telegraph

01:52 PM

Jacob Rees-Mogg booed by protesters

Jacob Rees-Mogg was booed loudly by hundreds of protesters in Birmingham as he arrived at Conservative Party conference.

The Business Secretary was escorted by several police officers as he walked across Victoria Square, where demonstrators had gathered to vent their anger at the Government.

Jacob Rees-Mogg makes his way into the Conservative Party conference in Birmingham today - Ian Forsyth/Getty Images Europe 
Jacob Rees-Mogg makes his way into the Conservative Party conference in Birmingham today - Ian Forsyth/Getty Images Europe

The crowd pursued him, jeering and booing, with some shouting “Tory scum”.

Demonstrators furious at Liz Truss’s economic plan are carrying signs reading “unelected, unaccountable, unhinged” and “wages up, bills down, Tories out”.

01:48 PM

Boris Johnson should 'hold his head high'

Boris Johnson should "hold his head high" over his record in No 10, Jake Berry, the chairman of the Conservative Party, has said.

Mr Berry said of Mr Johnson's exit "that is politics, life goes on, we now have an extraordinary new Prime Minister".

Mr Johnson is not expected to attended Tory conference this year but Mr Berry said the former PM could expect a warm welcome if he comes next year.

He said that the Tories would "welcome him back as one of our friends".

01:45 PM

Families faced 'winter from hell' before Government support

Jake Berry, the chairman of the Conservative Party, said families would have faced the "winter from hell" if the Government had not brought forward its package of help on energy bills.

Mr Berry said "we have got a tough winter ahead of us" but ministers have now pledged "a lot of help".

01:38 PM

Tory chairman rules out free vote on mini-Budget

Up next at the Chopper's Politics event in Birmingham is Jake Berry, the chairman of the Conservative Party.

Mr Berry was asked about the decision to scrap the 45p top rate of income tax.

He argued it is the "right thing to do" and Tories should now be "going out there making the argument for a low tax, high growth economy".

Asked if Tory MPs could be given a free vote on the mini-Budget in the House of Commons, Mr Berry said: "No, absolutely not."

01:35 PM

Ex anti-corruption tsar urges more action on financial crime

Tony Diver, The Telegraph's Whitehall correspondent, is currently at a fringe event and has sent across this update:

Britain must become a more “dangerous” place for criminals to put their money or risk losing its reputation as a leader in global finance, ministers have been warned.

John Penrose, the Government’s former anti-corruption tsar, said the UK had become a “natural target” for kleptocrats, organised criminals and gangsters because of the London Stock Exchange and the City. MPs have already passed an Economic Crime Act to close regulatory loopholes that allow dirty money to flow into the UK, but more laws are needed, he said at an event at Conservative Party Conference organised by the Bright Blue think tank.

“We are a natural target and we have to keep moving because as sure as eggs are eggs…they are criminal entrepreneurs,” he said. “They think fast, they move fast, and every time we move they try to leapfrog ahead.”

01:32 PM

Tories must not 'look backwards' on education

Michael Gove was asked by an audience member why he opposes the opening of new grammar schools.

The former education secretary said that the Conservative Party "should not be looking backwards" on education.

He said the goal must be that "every child has an outstanding education".

01:28 PM

Michael Gove grilled on merits of new Royal Yacht

Michael Gove was asked if he is in favour of a new Royal Yacht.

He said: "I am on record... writing during the coalition years... that having a flagship vessel which would be a floating trade platform... would be a good thing."

But he said it is hard to justify spending taxpayers' money on a yacht at a time when there are other big challenges which need to be addressed.

Michael Gove, the former Cabinet minister, is pictured in conversation with The Telegraph's Christopher Hope in Birmingham this afternoon  - Geoff Pugh for The Telegraph
Michael Gove, the former Cabinet minister, is pictured in conversation with The Telegraph's Christopher Hope in Birmingham this afternoon - Geoff Pugh for The Telegraph

01:20 PM

'I am just a backbencher'

Michael Gove said that Liz Truss is a "highly effective, very intelligent, very focused Cabinet minister" and "people shouldn't underestimate Liz".

Mr Gove said that Ms Truss has "formidable skills" but he would like her to "correct course" on a few policies.

Asked if he is now the "rebel leader" of Tory MPs, Mr Gove said: "No, I am just a backbencher."

Asked if he is a "snake", Mr Gove said: "No."

01:14 PM

Government 'betting too much on tax cuts'

Asked who he would prefer to be prime minister, Liz Truss or Boris Johnson, Michael Gove said: "Liz won the leadership election, Boris had to resign."

The former Cabinet minister expressed concerns about the PM's decision to borrow money to pay for tax cuts.

Mr Gove said "my concern is the scale of that borrowing".

He suggested the Government is "betting too much on tax cuts when we are borrowing to pay for them" and "that is not Conservative in my view".

01:10 PM

Gove dodges question on voting against mini-Budget

Asked if he will vote against the mini-Budget when it comes up in the House of Commons, Michael Gove would not be drawn directly.

He said there will be a "conversation" about the tax changes in the coming weeks. He also pointed out that he has never voted against the Tory whip in his career as an MP.

Asked how he would vote if the vote was tomorrow, Mr Gove dodged the question and said: "It is not tomorrow so there is plenty of time for that conversation to take place."

01:07 PM

Gove 'wary' of Truss tax changes

Michael Gove was asked if he was worried about the prospect of benefits not rising in line with inflation next year.

He said: "It is going to be very difficult to argue it is right to reduce welfare while we are also reducing taxes for the wealthiest."

Michael Gove poses with The Telegraph's Christopher Hope at Conservative Party conference in Birmingham - Geoff Pugh for The Telegraph
Michael Gove poses with The Telegraph's Christopher Hope at Conservative Party conference in Birmingham - Geoff Pugh for The Telegraph

Mr Gove said that the new Government's values must be "in tune" with those set out in the 2019 Tory general election manifesto.

The former Cabinet minister said he is "wary" of the tax changes being made by Liz Truss.

01:04 PM

Michael Gove rejects idea Tories have 'lurched' to the Right

Michael Gove rejected the idea that the Conservative Party has "lurched" to the Right.

The former Cabinet minister said that "words like lurch and badges like right wing are used to cover changes that are at once more complex and subtle than that".

He said there is a "debate" about what the Government's "priorities" should be.

01:02 PM

'Thing can change with dramatic speed'

Michael Gove said he is looking forward to a "quiet life" now that he is outside of the government and he is looking forward to contributing as a backbench Tory MP.

Asked what he has learned in the past year, Mr Gove said his lesson is that "things can change with dramatic speed".

01:01 PM

Chopper's Politics now underway

We are now underway at the Chopper's Politics podcast event here in Birmingham.

Proceedings started with Michael Gove being presented with his official Chopper's Politics mug.

"It will be put to very good use," Mr Gove said.

12:56 PM

Standing room only at Chopper's Politics

All the seats are now taken and it is standing room only at The Telegraph's live event with Michael Gove and Jake Berry at Conservative Party conference in Birmingham.

It is the first big fringe event at conference - all eyes on Mr Gove.

12:50 PM

'What happened to no headlines?'

Michael Gove has now arrived at the PLMR Business Hub at Conservative Party conference in Birmingham ahead of the start of the Chopper's Politics event at 1pm.

A Tory activist asked the former Cabinet minister "what happened to no headlines" - a reference to Mr Gove's intervention this morning in which he criticised Liz Truss's mini-Budget.

Mr Gove replied: "Are there any?"

12:47 PM

The plan for Chopper's Politics podcast

The Chopper's Politics podcast event at Conservative Party conference will get underway at 1pm.

It will start with a half an hour session with Michael Gove and Jake Berry, the chairman of the Conservative Party will then be up for the second half an hour from 1.30pm.

12:33 PM

PM pledges to cut small business red tape

Liz Truss has pledged to cut the amount of red tape that applies to small businesses by raising the threshold at which certain rules apply.

The move by the Prime Minister will see potentially tens of thousands of firms made exempt from some regulations in a bid to save them thousands of pounds.

Ms Truss said in a statement: "By raising the definition of a small business, in terms of regulation, from 250 to 500 employees, we will be releasing 40,000 more businesses from red tape.

“That will make it easier for them to get on with their business, in turn boosting our economy and creating more jobs to help get Britain moving. Higher economic growth means higher wages, better jobs, and more funding for our public services and NHS".

12:21 PM

Chopper's Politics podcast with Michael Gove 40 minutes away

12:07 PM

Churchill baby bibs and Truss mugs for sale

The Conservative Party's official merchandise stand in Birmingham has an eclectic mix of items for sale.

Perusing Tory activists could opt for a  Margaret Thatcher apron for £19.99 or a Thatcher water bottle for £16.95.

Toby jugs of Margaret Thatcher and Winston Churchill on sale during the Conservative Party annual conference at the International Convention Centre in Birmingham - Aaron Chown/PA
Toby jugs of Margaret Thatcher and Winston Churchill on sale during the Conservative Party annual conference at the International Convention Centre in Birmingham - Aaron Chown/PA

There are also "In Liz We Truss" mugs, a variety of Tory leader Toby jugs for £28.95 and Churchill baby bibs for £17.50.

If none of that appeals, there are also "Land of Hope and Glory" tea towels...

An "In Liz We Truss" mug on sale during the Conservative Party annual conference at the International Convention Centre in Birmingham - Aaron Chown/PA
An "In Liz We Truss" mug on sale during the Conservative Party annual conference at the International Convention Centre in Birmingham - Aaron Chown/PA

11:57 AM

Tory activists now filing in

Conservative Party conference is still in the set up phase, with fringe events starting at 1pm this afternoon.

Stalls are still being put up - including the official Tory merchandise stand - and activists are now steadily filing in.

One thing that is slightly strange: There is a Subway outlet on the ground floor inside the main conference venue which means the whole place smells a little bit like baking bread.

People walk past branding on the first day of the annual Conservative Party Conference in Birmingham - Paul Ellis/AFP
People walk past branding on the first day of the annual Conservative Party Conference in Birmingham - Paul Ellis/AFP

11:46 AM

Andy Street 'would not have cut top rate of income tax'

Andy Street, the Conservative Mayor of the West Midlands, has said he would not have opted to scrap the top rate of income tax if it was up to him.

Asked if he supported the decision to abolish the 45p additional rate, Mr Street told Sophy Ridge on Sky News: "If it was me, I wouldn’t have done that, to be really clear, I would haven’t done that but I understand what the Government is attempting to do and I agree with the whole principle that we’ve got to get growth going.

"It’s why I voted for Liz Truss and I stand by that, because we were in a position where really over the last seven years, we’d seen the underlying rate of growth of this country’s economy softening."

Asked why he would not have scrapped the top rate, Mr Street said: "Because I think the rest of history, certainly if you look at what happened in Thatcher’s time, with what Reagan did, you have to carry the huge majority of people with you in the early stages of this and, as we are now seeing, that’s proving a difficult thing to do but the principle of what the Prime Minister is doing is saying we are going to have a different approach to growth, is one I fully stand by."

11:19 AM

The plan at Tory conference today

Tory conference is a little bit different to Labour conference.

Labour's main hall basically runs all day, with a series of speeches by key players as well as contributions from party delegates.

But here in Birmingham, the main hall will only be open from 4pm until 6pm, today, tomorrow and on Tuesday and then from 10am until noon on Wednesday.

Today's two hour session will include speeches from Jake Berry, the chairman of the Conservative Party, and Ben Wallace, the Defence Secretary.

There are lots of events taking place on the fringes of the conference throughout the day but the main hall will only be the focus for a couple of hours each day.

11:12 AM

'Truss needs poll turnaround to lead Tories into election'

Mel Stride, the Tory chairman of the Treasury Select Committee, has said Liz Truss needs to quickly regain the confidence of the public and the financial markets if she is to lead the Conservative Party into the next general election.

Asked on Sky News’s Sophy Ridge On Sunday programme about Ms Truss’s prospects of leading the party into the election, he said: “For that to happen I think it is fair to say that we have to fairly quickly move to a place where the polls are beginning to turn around, where the markets are feeling the Government is behaving fiscally responsibly and they are gaining in confidence, the pressure on the pound is being released somewhat and bond yields are not soaring off.”

Mr Stride said he believed there are some "very difficult optics" around the Government's mini-Budget, specifically the decision to scrap the 45p top rate of income tax while also "seeking reductions, for example, in the welfare”.

Liz Truss, the Prime Minister, is pictured in Birmingham this morning  - Jeff Overs/Reuters
Liz Truss, the Prime Minister, is pictured in Birmingham this morning - Jeff Overs/Reuters

11:05 AM

Tory MPs warned they will lose whip if they vote against mini-Budget

Simon Clarke, the Levelling Up Secretary, has warned Tory rebels that if they vote against the mini-Budget then they will lose the Conservative whip.

Speaking to Times Radio, Mr Clarke said that matters of party discipline are "clearly" a matter for the Chief Whip.

But he added: "But it is clearly as the party chairman has said, normally the case that if you vote against the Budget, then you do indeed lose the party whip and that is that long-standing, established practice."

10:57 AM

Dorries accuses Truss of throwing Kwarteng 'under a bus'

Nadine Dorries, the former culture secretary, has lashed out at Liz Truss for “throwing your Chancellor under a bus” after the Prime Minister said the abolition of the 45 per cent tax rate on earnings over £150,000 was a decision made by Kwasi Kwarteng.

Ms Dorries, a staunch ally of Ms Truss’s predecessor in No 10, tweeted: “One of (Boris Johnson’s) faults was that he could sometimes be too loyal and he got that.

“However, there is a balance and throwing your Chancellor under a bus on the first day of conference really isn’t it. (Fingers crossed) things improve and settle down from now.”

10:41 AM

Government under pressure to publish OBR forecast

Mel Stride, the Conservative chairman of the Treasury Select Committee, said Liz Truss’s refusal to bring forward the publication of the Office for Budget Responsibility’s economic forecasts could mean interest rates increasing by more than they would otherwise.

Mr Stride said it should be possible for the OBR to release its report before the next meeting of the Bank of England’s Monetary Policy Committee (MPC), which sets rates, on November 3.

“If it has a satisfactory OBR report before that meeting on November 3, I would imagine and expect that the interest rate rise will probably not be as high as it otherwise would be,” he told Sky News’s Sophy Ridge On Sunday programme.

“That OBR report, the fiscal targets, would have reassured the markets, there would be less concern about the inflationary impacts of the Government’s policy and therefore the MPC would be putting interest rates up by potentially a little bit less.”

10:05 AM

The three main takeaways from the PM's interview

  1. PM not backing down on 45p tax rate: Liz Truss could not have been clearer this morning that she intends to stick with her plan to cut the top rate of income tax, despite some Tory opposition. The PM argued it will make the tax system "simpler and lower" and that the 45p rate actually "raises very little" in revenue.

  2. An admission mistakes were made: Ms Truss will be hoping her admission that she could have done a better job of preparing the financial markets for the mini-Budget will assuage some Tory anger.

  3. No guarantees on benefits or public spending: The Prime Minister refused to answer the question when asked for a guarantee that benefits will rise in line with inflation next year. It was a similar story when she was asked if there will be cuts to public spending.

09:56 AM

Lib Dems tell Tory MPs to vote against mini-Budget

Sir Ed Davey, the leader of the Liberal Democrats, has told Tory MPs they must "do their patriotic duty" and vote against Liz Truss's mini-Budget when the House of Commons returns later this month.

He said: "The Prime Minister is completely delusional in ignoring the fear and anxiety her botched budget has caused millions of people.

"Liz Truss should have apologised to homeowners facing much higher mortgage bills and savers worried about their pensions, and dropped her dangerous ideas. Instead the Prime Minister’s arrogantly doubled down, proving yet again just how out of touch the Conservatives are.

“Her failure to rule out public spending cuts means our treasured NHS could end up paying the price. Conservative MPs must for once do their patriotic duty and vote down the Prime Minister’s unfunded tax cuts for big banks and billionaires."

09:54 AM

Tory former chief whip may vote against mini-Budget

Julian Smith, a Tory former chief whip has suggested he will vote against Kwasi Kwarteng's mini-Budget when Parliament returns - regardless of the consequences.

Jake Berry, the Tory chairman, said this morning that any Tory MP who votes against Mr Kwarteng's tax-cutting plans would lose the party whip.

But Mr Smith, the MP for Skipton and Ripon, responded to Mr Berry's comments by tweeting: "The first job of an MP is to act in the interest of their constituents and in the national interest.

"We cannot clap for carers one month and cut tax for millionaires months later."

09:50 AM

Labour accuses PM of 'mad experiment'

Rachel Reeves, the Labour shadow chancellor, said the idea that the Government's mini-Budget will lead to annual economic growth of 2.5 per cent is "for the birds".

She told the BBC: :The Prime Minister just doesn’t seem to understand the anxiety and fear. This is a crisis made in Downing Street but it is ordinary working people who are paying the price.

“The idea that trickle-down economics is somehow going to deliver the 2.5 per cent growth we all want to see is for the birds.

“The Prime Minister and the Chancellor are doing some sort of mad experiment with the UK economy and trickle down economics. It has failed before and it will fail again.”

09:48 AM

Tory chairman shrugs off Labour poll lead

Jake Berry, the chairman of the Conservative Party, has shrugged off significant Labour leads in recent opinion polls, arguing they would look “very different” closer to the general election.

Mr Berry said that "I know and believe that when we get to that general election and when we have delivered that growing economy, when we have ensured that the benefit is felt by every household in this country, that it will be a very different result than shown in that snap poll a few days after the Government has done a mini-fiscal event.”

09:46 AM

'We have an absolute mandate'

One of the key questions being asked of Liz Truss is whether she has a mandate for her plans given that she has not won a general election.

Jake Berry, the chairman of the Conservative Party, argued this morning that the 2019 Tory election victory gave Ms Truss an "absolute mandate".

He told Sky News: “That 2019 manifesto set out two things. It set out that we wouldn’t increase taxes and in fact we have complied with that by reversing the national insurance rise. It set out that we would drive to create economic growth and that’s exactly what the Prime Minister’s doing.

“We have an absolute mandate from that manifesto and we will continue to deliver.”

09:44 AM

Tory chairman rejects criticism of tax cuts

The Conservative Party chairman said it was “nonsense” to claim that the Government’s tax cuts are helping the richest the most.

Jake Berry told Sky’s Sophy Ridge On Sunday programme it was “simply incorrect”, adding: “Every single working person in this country is going to see a cut in their national insurance this month and we also know that the lower paid in this country, as a percentage of their income, pay more in national insurance than higher earners.

“So in fact as a percentage of income it is giving a bigger tax cut to those lower earners than it is to the top earners.”

Shown a graph from the Resolution Foundation think tank suggesting higher earners benefitted most from the Government’s plans, Mr Berry said he could not see the image.

He said: “I would go back and say what we are doing for every household in this country is ensuring that they get a cut in their tax bill next month when that pay slip drops through the letter box or arrives via email.”

09:38 AM

'A drive to trim fat'

The chairman of the Conservative Party did not rule out spending cuts, but refused to be drawn on specific policies.

Speaking on Sky’s Sophy Ridge On Sunday, Jake Berry said: “I don’t think it’s unreasonable to say that the public sector should look at its expenses in the same way that every single household is doing in this country.

“What we’ve heard from the Government is there’s going to be a drive to trim fat in terms of Government expenditure.”

Asked whether this would involve stopping benefits from being increased in line with inflation, Mr Berry said: “It’s not for me to make fiscal announcements in relation to benefits.”

09:35 AM

Labour U-turn on energy bills freeze

A Labour U-turn on energy bills.

Labour originally said its proposal for an energy bill freeze would last for six months. The party had not committed to the Government's two-year period of support, arguing it would reassess the situation next April.

But Rachel Reeves, the shadow chancellor, has now revealed the party has changed its mind.

She told the BBC's Sunday with Laura Kuenssberg programme that "we support that support for the two year period".

09:32 AM

Michael Gove hints he could vote against mini-Budget

Pressed on whether he would vote for the mini-Budget in the House of Commons, Michael Gove said: “I don’t believe it’s right.”

Not a firm yes or no from the former Cabinet minister but definitely a hint that he could vote against the measures.

09:21 AM

Michael Gove savages mini-Budget

Michael Gove said he is "profoundly" concerned about the Government borrowing money to pay for tax cuts.

He said: "There are two things that are problematic. Two major things that were problematic with the fiscal event.

"The first is the sheer risk of using borrowed money to fund tax cuts. That is not Conservative. And then the second thing is the decision to cut the 45 pence rate and indeed at the same time to change the law which governs how bankers are paid in the City of London.

"Ultimately, at a time when people are suffering... when you have additional billions of pounds in play, to have as your principal decision the headline tax moved, cutting tax for the wealthiest, that is a display of the wrong values."

09:18 AM

'There is an inadequate realisation at the top of of government of the scale of change required'

Michael Gove has said the Government still does not realise that the mini-Budget has to be overhauled.

The former Cabinet minister told the BBC: "I think it was right for the Prime Minister to acknowledge that the events of Friday, that fiscal event, need to be revisited, there needs to be a recognition of mistakes but I think it is still the case that on the basis of what the Prime Minister said... that there is an inadequate realisation at the top of of government of the scale of change required.

"So yes, the energy package was the most important thing in the fiscal event but broadly 35 per cent of the additional money that we are borrowing is not to cut energy costs, it is for unfunded tax cuts."

09:12 AM

PM 'confident' mini-Budget will deliver economic growth

Liz Truss said she is "confident" her economic plan will deliver growth.

She told the BBC's Laura Kuenssberg: "I am not saying it is not going to be difficult, we do face a very turbulent and stormy time, but it will deliver on the promises we made."

Liz Truss appears on the Sunday with Laura Kuenssberg programme - Stefan Rousseau /PA
Liz Truss appears on the Sunday with Laura Kuenssberg programme - Stefan Rousseau /PA

09:09 AM

'We have to look at the mortgage issue separately'

Liz Truss was asked if she accepted that the benefit from the energy bills support package could be wiped out for some people by increases in mortgage payments caused by rising interest rates.

She said: "I understand that people are worried and are struggling, it is a very difficult time. We have to look at the mortgage issue separately which is the Bank of England set interest rates, not the government."

Asked if she accepted that some people could be worse off, the PM said "we want to do all we can to help home owners" but "ultimately interest rates are a matter for the independent Bank of England".

09:05 AM

Government 'didn't have time' for OBR forecast

Liz Truss has defended pressing ahead with the mini-Budget without an accompanying economic forecast from the Office for Budget Responsibility.

The Prime Minister said that "there is a process that you need to go through" and "we simply didn't have time to go through that process".

09:03 AM

'I do not manage Kwasi's diary'

Kwasi Kwarteng is facing calls for an official inquiry following a report that he attended a private champagne reception with hedge fund managers following his mini-Budget.

Liz Truss was asked about the story and she told the BBC: "The Chancellor meets business people all the time... I do not manage Kwasi Kwarteng's diary."

09:00 AM

PM fully committed to 45p tax cut

Liz Truss has insisted that she is sticking with her pledge to cut the 45 top rate of income tax.

Asked if she intends to keep the tax cut, she told the BBC's Laura Kuenssberg: "Yes."

Ms Truss said the cut is part of "making our tax system simpler and lower". She also argued that the 45 rate actually "raises very little" in revenue.

Asked if she had discussed the 45p tax cut with her Cabinet, Ms Truss said: "No."

08:58 AM

Liz Truss refuses to guarantee benefits will rise in line with inflation

Liz Truss has refused to guarantee that benefits will rise in line inflation.

The Prime Minister said it is "something the department of work and pensions secretary is looking at at the moment, she will make a determination on that and we will announce that this autumn".

Asked again if she could guarantee benefits will rise in line with inflation, the PM said again that the Government is "looking at" the issue.

The PM said the Government is "committed to the triple lock" on pensions.

08:52 AM

PM refuses to be drawn on potential cuts to public spending

Liz Truss was asked if she is going to cut public spending.

The Prime Minister stressed the importance of economic growth and said "we need to grow the size of the pie".

Asked again if she intends to cut public spending, Ms Truss did not answer directly but said "I believe in getting value for money for the taxpayer".

Asked again if spending on public services could be cut, Ms Truss again said her focus is on securing "value for money for the taxpayer".

The Prime Minister said that the Government will "reduce debt as a proportion of GDP... in the medium term".

08:45 AM

Liz Truss admits she could have done a better job on mini-Budget unveiling

Liz Truss has admitted for the first time that the Government could have done a better job of preparing the financial markets for the mini-Budget.

She told the BBC: "I do stand by the package we announced... but I do accept we should have laid the ground better.

"I do accept that and I have learnt from that and I will make sure that in future we do a better job of laying the ground."

08:44 AM

'We do have a very clear plan'

Liz Truss was asked if she felt any responsibility for the anxiety people may feel about rising mortgages and rents.

The Prime Minister repeated her argument that the world is wrestling with rising interest rates and economic instability and that these are not just confined

She said that "this is a global problem". Ms Truss also insisted that "we do have a very clear plan" to help people.

Liz Truss, the Prime Minister, reacts as she speaks at a television studio on Sunday with Laura Kuenssberg - Hannah McKay/Reuters
Liz Truss, the Prime Minister, reacts as she speaks at a television studio on Sunday with Laura Kuenssberg - Hannah McKay/Reuters

08:40 AM

Liz Truss defends mini-Budget plans

Liz Truss has defended her tax and borrowing plans as she said that it was "vitally important that we acted" to help struggling families.

The Prime Minister told the BBC that if the Government had not acted on energy bills then "we would be in serious trouble as a country".

"What we are preventing is those extraordinary bills that people were expecting," she said.

The Prime Minister said that the energy bill help represented the biggest part of the mini-Budget.

08:38 AM

'A number of mistakes were made'

Michael Gove, the Tory former Cabinet minister, is one of the guests on the BBC's Sunday with Laura Kuenssberg programme.

Mr Gove said that "we are in grim economic circumstances" and "people are looking to Liz and to Kwasi and they want reassurance".

Mr Gove said that people across the nation want to know that the Prime Minister and the Chancellor "share their values".

He said a "number of mistakes were made" in the mini-Budget but argued there is "room and time to address them and correct them".

08:25 AM

Labour demands Government publish OBR economic forecast

08:23 AM

Tory rebels plan two-pronged 'resistance'

The One Nation group of Conservative MPs is likely to be a focal point for rebellious Tory MPs seeking to water down the Government’s mini-Budget, The Telegraph has been told.

Tory backbenchers unhappy with the fiscal statement said they were looking to build a two-pronged “resistance” campaign aimed at blocking the scrapping of the 45p additional income tax rate and any attempt to slash benefits.

The One Nation caucus is one of the most influential Tory parliamentary groups, representing a bloc of centrist MPs.

You can read the full story here.

08:18 AM

'I said I would do these things'

Liz Truss has defended the decisions she has taken since becoming Prime Minister, telling Tory rebels: "I said I would do these things."

The Prime Minister told The Sunday Telegraph: “Often, I think, people feel politicians talk, and they don’t necessarily ‘do’. I’m very focused on doing, and getting these changes happening in the British economy, enabling people to keep more of their own money, keeping bills low.

“I campaigned on this basis in the leadership election campaign, I said I would do these things. And I’m determined to follow through on things because I see that this is what will make Britain more successful.”

Asked if she is planning to retain the entire mini-Budget package, including the most controversial proposal to scrap the 45p rate of income tax, the Prime Minister simply replied: “Yes.”

08:09 AM

Liz Truss attempts to sooth Tory anger

A string of Conservative backbenchers have joined opposition parties in publicly criticising Liz Truss's mini-Budget tax and borrowing plans.

Perhaps the main point of criticism has been over the decision to scrap the 45p top rate of income tax.

Liz Truss, the Prime Minister, arrives at Tory conference in Birmingham yesterday - Tolga Akmen /Shutterstock 
Liz Truss, the Prime Minister, arrives at Tory conference in Birmingham yesterday - Tolga Akmen /Shutterstock

But the Prime Minister made clear in an interview with The Sunday Telegraph that she will not be reversing course as she argued that sticking with the "status quo isn't an option".

She said: “Change is always something that people might find worrying. But what I’m fundamentally saying is we do have to change, and the status quo isn’t an option.”

08:04 AM

PM: Only my growth plan will reverse Britain’s managed decline

Liz Truss has declared that only her plan to transform Britain into a low tax, high growth economy will reverse the “current trajectory of managed decline”.

In her first newspaper interview since becoming Prime Minister, Ms Truss told The Sunday Telegraph that “tough decisions” are needed to boost growth in order to increase wages, investment and employment.

She insisted that the public is more concerned with jobs and education than “what the polls were last year”, warning that voters “feel that there has been a failure to address some of the fundamental issues that affect our country”.

Unveiling new reforms to cut red tape for small businesses, the Prime Minister said that she wants to combat Britain’s “lack of dynamism”.

Seeking to quell discontent among Tory MPs over measures such as the abolition of the 45p tax rate, the Prime Minister said that she wants to “bring people with me on this journey”.

You can read the full story here.

08:01 AM

Good morning

Good morning and welcome to today's politics live blog.

I am in Birmingham to bring you all of the latest updates from what is likely to be a box office Conservative Party conference.

Liz Truss will formally get proceedings underway this morning as she takes part in the traditional BBC leader interview.

There will then be a myriad of fringe events, as well as big speeches in the main conference hall, this afternoon.

I will guide you through the key moments.