Liz Truss promises tax-cutting mini-Budget within days of taking over as PM

LIZ Truss last night promised to hold a tax-cutting mini-Budget within days of taking over if she wins the Tory race.

But Rishi Sunak slammed her saying she had watered down plans for a full blown emergency Budget - with full independent scrutiny of her spending plans.

Commons Treasury Committee boss Mel Stride - who backs Sunak - accused the Foreign Secretary of "flying blind" as she planned to ram through tax cuts without a new economic forecast.

But Truss supporters say a economic forecast would take ten weeks to produce and there was no time to wait to help people this winter so instead she will hold a smaller “fiscal event.”

A source said: "Liz wants to cut taxes as soon as she can, something Rishi has no experience of."

But Team Rishi hit back: "Liz is now walking back from her commitment to hold an emergency Budget - something she confirmed she would do more than seven times during the campaign."

Ms Truss had previously pledged to hold a new Budget on "day one" of winning the keys to No10 on September 6.

Her newly-branded "fiscal event" is likely to now be in the middle of the month and is already being planned.

She will reverse Rishi Sunak's 1.25 per cent rise in NICs and wipe green taxes off energy bills for two years.

And despite previously railing against "handouts" Ms Truss will announce some targeted support for the poorest families and pensioners.

Last night she told the latest Tory hustings in Birmingham: “At any event the Chancellor has to look at people on fixed incomes."