Jacob Rees-Mogg has said Liz Truss and Kwasi Kwarteng have been left “vindicated” by Jeremy Hunt’s Budget.
Writing in The Telegraph, the Tory MP said growth and supply-side reform were back on the agenda after Wednesday’s announcement.
Lauding the change to pension funds, dubbed a “gilded giveaway” to higher earners by Labour, Rees-Mogg said the abolition of an arbitrary limit of £1,000,000 and the slight rise in the maximum tax free investment will “encourage saving, which ought to boost investment in new industries”.
“This will be especially true of those with self-invested pension schemes and is a help to a growth agenda”, he added.
According to Rees-Mogg, the pensions bung is a “partial vindication of Liz Truss”.
“Growth must be the main objective,” he said, adding that the aim must be to go “much further”.
“This Budget may be a start along the road to real supply side reform and growth based on lower taxes.”
Last year, Truss’s short premiership ended after her Budget wiped £300 billion from UK stock and bond markets, triggering a pension fund crisis and sending international investors running scared.
In her six weeks in charge, she managed to sack her chancellor before giving her chief whip and deputy chief whip their marching orders after people were manhandled before a vote on fracking.
It is believed that thousands of Brits will face higher mortgages for years due to Truss’s disastrous premiership.
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