EX-PRIME Minister LIz Truss has launched a new think tank that will aim to influence Government tax policies and improve forecasting.

Speaking after the launch of the Growth Commission, she told GB News: “What we’ve seen for decades is low economic growth. And what that means is people are worse off than they need to be.

“Today’s report shows that they are £10,000 worse off in terms of spending power than people in the United States and it is of course vital that families are able to keep more of their own money.

“They’re able to earn more money to help deal with the inevitable difficulties in life, whether it’s inflation, whether it’s needing to buy a new car, having that extra growth is vitally important. So, what this commission is looking at is, what are the policies needed to get that economic growth

“What this is about is about looking at the long term. We know that we’ve had low growth here in the United Kingdom, right across the western world for decades. So what I’m interested in is how do we change that? How do we make our situation better?”

In a discussion with Liam Halligan she continued: “Of course, no one can predict the future. But what we do know is if we have too much regulation, if we have very high taxes, then that leads to people being less likely to go out to work, businesses being less likely to be established.

“What I want to see from the Growth Commission is economic analysis that looks at the dynamic effect of those policies so that we have better economic forecasting and ultimately better policies. That leads to economic growth.”