Starmer says No 10 has lost control of economy as he pushes for recall of MPs | Labor

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Keir Starmer has called for parliament to be recalled as he pushed Liz Truss to abandon the mini-budget that has sparked a market spiral and dramatic intervention from the Bank of England.

The Labor leader said MPs should be called back early given the government had “lost control of the economy”.

The Commons went into recess on Friday until 11 October, meaning ministers cannot be questioned by MPs on concerns from constituents about rising mortgage payments and the cost of living crisis. Truss and the chancellor, Kwasi Kwarteng, have also given no interviews.

A three-week recess is traditionally held at the end of September and start of October, during party conference season. As delegates from Labor’s conference headed home, Starmer said the Bank of England’s move to buy long-dated UK government bonds was “very serious”.

He told broadcasters: “I think many people will now be extremely worried about their mortgage, about prices going up, and now about their pensions. The government has clearly lost control of the economy.”

Starmer added: “What the government needs to do now is recall and abandon this budget before any more damage is done.”

Keir Starmer says government must fix problem it made with economy – video

Ed Davey, the leader of the Liberal Democrats, said people had heard “nothing at all from the prime minister” and that the Commons should be recalled so she and Kwarteng could “reassure not just the financial markets but also British homeowners at risk of higher mortgage costs.”

Davey added: “Truss and Kwarteng must come forward and spell out how they will repair the damage from their shambolic budget. Every hour the prime minister and chancellor hide from this economic nightmare increases the chances of interest rates spiraling out of control and people losing their homes.

“We can’t wait till the Conservatives’ proposed November statement to rescue the pound and property market. For the sake of the country, Liz Truss must act now.”

The Commons can only be recalled if a request is made by the government to the Speaker, Lindsay Hoyle. He would almost certainly grant it if asked, while allowing for 24 or 48 hours notice so MPs could organise travel plans.

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However, given the awkward questions Truss and Kwarteng may face, and that the Conservatives will hold their party conference this weekend, Tory sources said there was little chance of the Commons being recalled.

Sadiq Khan, the mayor of London, said the government had created chaos and blamed “their reclessness and incompetence” for hitting people and hard businesses “at a time when they are already struggling with the cost of living crisis”.

He called on Truss and Kwarteng to “urgently change the course to restore stability and confidence in our economy” — reversing those policies that “are causing fear and anxiety to businesses and families — and creating havoc to the markets and mortgages.”

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