Reply With QuoteOriginally Posted by Elite_Pie
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It's been reported that when Kwasi Kwarteng hurriedly flew back from America to be sacked he booked a seat in first class.
Apparently Liz Truss instructed "don't let him anywhere near business or economy".
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Well Truss's un-costed budget went down like a lead balloon, I suspect this will go down like several lead balloons tied together.
The chancellor used this morning’s cabinet meeting to tell ministers of the scale of spending cuts which are coming.
He is currently preparing tax hikes and spending reductions to be announced at the end of the month.
The extent of the black hole in government finances means he needs to find tens of billions to balance the books.
There could be trouble ahead on this.
Backbenchers who despaired over the tax burden under Rishi Sunak are likely to be facing an even bigger one soon.
Cabinet ministers will not be happy to see their budgets slashed.
For some, it could be a resigning issue.
That includes Ben Wallace, the defence secretary, who has made it clear he wants his budget to increase in line with promises made by the prime minister over the summer.
A source close to Wallace said they are working on the basis that defence spending will be 2.5% of GDP by 2026 – and 3% by 2030.
“Current world events, and allies' commitments show that defence is not a 'discretionary' spend but a priority” the source added.
The chancellor is insisting all departments find savings.
https://www.bbc.co.uk/news/live/uk-politics-63278993
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And, they are now no longer saying they are commited to the triple lock on pensions. Having made a below inflation rise last year they have since consistently said they will offer it this year. Not now. I only hope the vast majority of over-65s who vote Tory see sense.
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I love the way people think that when good old Labour get in power everything will be fine.
There is no money, thanks to China inflicting covid upon us, and Boris listening to idiots like Neil Ferguson about lockdowns, when he preferred herd immunity.
It is not helping, allowing God knows how many illegal immigrants into the country, Iiving a life of Riley at our expense. I cannot think why the NHS is strapped for cash, ignoring rank bad management.
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I am still amazed at how stupid some people are.
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I'm never surprised how stupid some people are...........
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Chit, I was looking forward to a pay rise.
Truss no longer committed to maintaining triple lock on pensions, No 10 says
Liz Truss is no longer publicly committed to defending the triple lock – the guarantee that the state pension will rise every year in line with inflation, earnings, or 2.5%, whichever is highest. In their 2019 manifesto the Conservatives said they would “keep the triple lock” and in interviews only two weeks ago, during the party conference, Truss confirmed that she was still “committed” to it.
Not any more. At the Downing Street lobby briefing after cabinet, the PM’s spokesperson refused to say that Truss still feels bound by this. He did not say it would definitely go, but he clearly signalled that it is up for negotiation. Asked if Truss was still committed to the triple lock, he replied:
We are very aware of how many vulnerable pensioners there are. And, indeed, our priority ahead of this fiscal plan will be to ensure we continue to protect the most vulnerable in society.
The chancellor has been clear, the prime minister and the chancellor are not making any commitments on individual policy areas at this point.
But, as I say, the decisions will be seen through the prism of both what matters most to the most vulnerable …
[The PM’s] view, and the chancellor’s view, is that at this point it is not right to start pre-empting a collective piece of work which needs to be carried out across government on all spending.
Although the spokesperson said the commitment to the triple lock no longer applies, he said Truss was still committed to raising defence spending to 3% of GDP by 2030. Ben Wallace, the defence secretary, has signalled he would resign if Truss were to abandon that pledge.
Asked why Truss would not commit to the triple lock, but would commit to raising defence spending, the spokesperson said that the defence pledge related to 2030, and that it had been made in the context of the war in Ukraine and the UK’s membership of Nato.
The questions about the triple lock were triggered by comments that Jeremy Hunt, the new chancellor, made in the Commons yesterday. Downing Street echoed the language used by Hunt, who told MPs:
I am very aware of how many vulnerable pensioners there are, and of the importance of the triple lock. As I said earlier, I am not making any commitments on any individual policy areas, but every decision we take will be taken through the prism of what matters most to the most vulnerable.
With the inflation rate for September expected to be around 10%, keeping the triple lock would see pensions rise by that amount for 2023-24. With Hunt looking for savings in all areas of government spending, it is not hard to see why abandoning it for a year might be tempting.
Last year the triple lock was suspended for 2022-23 because Covid led to a freak 8% rise in earnings, as wages soared back up after the end of lockdown. Ministers argued that it would be unreasonable to give pensioners 8% because of distortions in the labour market, and instead a “double lock” was imposed, with pensioners guaranteed a rise in line with inflation or 2.5%.
But the government had said the triple lock would apply again for 2023-24.
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You are so far down the rabbit hole you should change your avatar to the Easter Bunny. You seem to believe everything any right wing stooge tells you. There is plenty of money to be found if you look in the right places. Start by checking out the blatant corruption your mates have allowed for 12 years then look at the wealth disparity that has arisen.
And as for illegal immigrants, gawd, do people still fall for that one ?!
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I'm afraid when they see boat after boat loads of immigrants crossing the channel illegally and then find they are struggling to pay their bills from one week to the next then yes they still fall for that one.
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