Liz Truss insists tax cuts will go ahead despite public spending promise

PM suggests borrowing will rise as she surprises MPs by saying she has no plans to cut public spending

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Liz Truss has said the Conservatives will push ahead with tax cuts without cutting public spending, instead allowing borrowing to rise over the next few years.

Senior economists had warned on Wednesday that such a strategy, if set out by Kwasi Kwarteng in the chancellor's fiscal plan at the end of this month, would be likely to spook investors, creating renewed market turmoil.