Badenoch calls for spending cuts as Burnham prepares first budget
The Conservative leader warned against repeating the mistakes of the 2022 mini-budget and said Liz Truss should take responsibility for it.
Britain’s Conservative leader Kemi Badenoch demanded sharp reductions in government spending on 20 October 2026, arguing that Prime Minister Andy Burnham’s first budget risked repeating the errors of Liz Truss’ mini-budget.
At a London press conference, Badenoch cited growing national debt, higher gilt yields and increased expenditure. She argued that Truss’ £150 billion in energy-bill subsidies, without spending reductions, illustrated how markets respond when governments fail to balance their budgets.
The 2022 mini-budget sparked a steep sell-off in British government bonds and weakened the pound. Badenoch accused Labour of ignoring those consequences and borrowing more to meet interest payments on debt already outstanding.
Badenoch served as international trade secretary under Truss but said she had not seen the mini-budget before it was presented. She maintained that collective responsibility did not mean endorsing every decision, and said Truss should take responsibility for the mini-budget.
A spokesperson for Truss also announced on 20 October that the former prime minister would publish a book later that month offering her account of the mini-budget. Truss, who held office for 49 days, has attributed its consequences to the Treasury, the Bank of England and the Office for Budget Responsibility.
