'This is difficult', PM admits after sacking Chancellor Kwasi Kwarteng

Synopsis

The Prime Minister addresses the nation, emphasizing the need for economic growth rooted in personal experience. He acknowledges the impact of Putin's war in Ukraine on global economic conditions and the challenges faced since the 2008 financial crisis. The Prime Minister outlines plans to maintain the increase in corporation tax, originally set by the previous government, to raise £18 billion annually. This decision aims to reassure markets about fiscal discipline and is part of a broader medium-term fiscal plan that will be supported by forecasts from the Independent Office for Budget Responsibility (OBR). He expresses regret over the sacking of Chancellor Kwasi Kwarteng, highlighting the need for stability and efficiency in public spending to ensure that taxpayers' money is well spent for the British people.