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Kwasi Kwarteng faces calls for inquiry after attending champagne do with hedge fund managers hours after delivering mini-budget | Politics News


Kwasi Kwarteng is facing calls for a formal investigation following a report that he attended a private champagne party with hedge fund managers under his small budget.

The Sunday Times reports that the prime minister attended the rally in Chelsea on 23 September and is said to have “got the egg” to pursue his plans. £45 billion in unrefundable tax cuts.

The hedge fund managers present profited from the collapse of the pound followed by small budgets.

Speaking to Sky News’ Ridge program on Sunday, Conservative Party Chairman Jake Berry denied that Mr Kwarteng discussed plans to cut future spending at the event.

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Mr. Berry, who attended the event, said: “I certainly didn’t hear him make those comments.

“I was there so I listened to what he had to say and what he talked about was his development plan.”

Mr Berry added: “I can clearly rule out that regarding the address he has told the group of people who have been there as part of this normal cashier event, he has not given any No details about future plans and I’m sure about the condition in his private conversations he didn’t give out any.”

He said that the guests of the event are broader than just hedge fund managers, but also include real estate developers.

Mr Berry said these individuals “should be praised” for supporting political parties and that the reception was part of the “normal drumming” of treasury events.

The Tory party chairman also noted that he believed Mr Kwarteng was “drinking a glass of soft drink”.

Also polled about the champagne party, Liz Truss said Mr. Kwarteng “meets with business people often”.

“I don’t manage Kwasi Kwarteng’s diary, believe me,” the Prime Minister told the BBC.

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PM ‘sticks to growth plan’

Pressed on whether it would have been better if he hadn’t attended because people were grappling with the cost of living crisis, Ms Truss said: “I wake up every morning as prime minister and think how we how can we make our country more successful, how can we reassure people, how can we help people through the very difficult times and we have to face Facing tough times…

“And that’s what I’m focusing on. That’s what the prime minister is focused on and that’s what the whole cabinet is focusing on.”

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A source close to the prime minister said: “Any suggestion of attendees having privileged access to information is completely pointless.

“The growth plan announced on Friday includes a commitment to review our tax code to make it simpler, better for families, and more conducive to growth.

“The government’s ambition to reduce the tax burden is hardly a state secret.”

The PM will face a bad week at the Tory Party conference following the disastrous response to Mr Kwarteng’s small budget cuts last month.

But before the official opening of the event in Birmingham at the end of another tumultuous week for the Conservatives, Ms Truss said she remained steadfast in her aim and tax cuts were essential to deliver the results. the economy grew again.

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‘I stand for the economic package’

A series of polls conducted this week showed The popularity of Tories plummeted and a record high for Labor after the small budget.

The latest poll from Opinium shows 55% of voters disapprove of both Ms Truss and Mr Kwarteng while Labor is up 19 points.

And 75% of voters say they have lost control of the economy. When it comes to Tory voters, 71% say they have no control over the economy compared to just 24% who believe they do.

But despite the criticism and plummeting support, Ms. Truss this morning doubled her number decided to eliminate the highest income tax rate (45%) because “it’s part of an overall package to make our tax system simpler and lower” – but admits the policy has not been discussed with the cabinet.

“It’s a decision the prime minister has made,” she told the BBC.

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