Here is the chancellors full statement.
Unbelievable mess and makes me honestly ask where is the retribution for such reckless management of uk plc? If i did anything like tgat in my job i’d be looking for a new job.
Really not a surprise - the market rendered this verdict when Truss tried to ignore the fiscal balance for her tax cuts. A Labour government doing the same on the spend size could expect a similar meltdown, and with the projected decline any government that fails to confront it is at risk of the same.
It really reminds of Canada 1993, I was involved in that campaign and the expectations when the Liberals came in was a sea change on social spending. What happened instead was and is the most dramatic reduction in government net spending the country had ever seen. The first two years were brutal, however the corner was turned fairly quickly - partially the good fortune of unrelated economic events, but also falling interest rates from improved confidence created more fiscal room while allowing debt to be paid off more aggressively.
It is striking to me how often it ends up being centrists who need to do the work of cleaning up after the rightwing governments that profess to be better and more prudent managers of the economy.
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Given that politicians like to refer to the state pension as a benefit (which it clearly isn’t), I sincerely hope that they dont lose the winter fuel payments.
It clearly is because that is how it is defined in legislation.
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Controversial TikTok lawyer quits after full Manchester Airport CCTV emerges
Akhmed Yakoob said he has decided not to represent two brothers seen in footage being violently arrested at Manchester Airport last week, after talking with their family
It certainky seems that way. Here we are again, others cleaning up posh boys who cant do sums mess.
What bugs me most is the complete underhand way they deliberately kept the state of things out of the pinlic eye and parliament. That is criminal in any other walk of life, but here they walk away with nothing more than the embarrassment of being called out. At least they can look to the Daily Mail for support tomorrow.
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Its an entitlement
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So, what is their race? The Porcini?
It might be criminal here as well. I don’t quite understand how they managed to keep this from the Audit Office.
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It’s a non means tested contributory benefit.
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Found this on beeb today 'Bean counters' get their revenge, as Rachel Reeves unveils spending audit - BBC News
My bet is that we will probably not see the full scale of how much damage the torries have done for a couple of years, but once the full picture becomes clear, they will be such a poisoned chalace that they will effectively become a nothing political party that would trust with a shit sandwich
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Good that she’s giving junior doctors a hefty pay rise.
They can coin it in even more, doing overtime treating all the pensioners with hypothermia
There’s part of me that wants this pursued just to discourage this kind of behaviour anything in the future. It was clearly part political sabotage, part promise everything sort the money later, but given their reputation you always suspect more.
Good to hear further processes being put in place to prevent this again too but i find myself increasingly frustrated at MP’s actions covered by little more than trust.
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The rise still doesnt take them back to their adjusted salary level in 2010.
Agreed the winter fuel payments feels like a proper kick in the bollocks though. I wonder why they picked on that in particular?
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I think the initial thing is to stop bleeding personnel. Training new doctors is notoriously expensive and if you want to attract doctors internationally you have to out compete the richest countries in the world, or take them from 3rd World countries that has even worse outcomes.
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It would have made more sense to simply add it to the base pension and adjust the tax rates accordingly.
It will tend to hit those who are just above the benefit threshold, or those that don’t want to claim them.
I’m assuming that there are other cuts?
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Indeed
It was the stand out one that would appear to hit vulnerable people over other’s. I half suspect there will something given back in the October budget. Triple lock was also reviewed, mentioned yesterday. I know pensions are a huge drain on oublic finance and a black hole in themselves but this felt full Tory austerity when i first heard it.
Other cuts? Yes. Departments being asked to find significant savings and asked to pull back on certain press release stuff, presentations etc. Other cuts were mainly to certain projects that were due to start, such as the long overdue A303 work and the A27. Basically they’ve pulled back on everything and anything that was unfunded which includes the new National certificate thingy, Hunt’s investment plan and do on.
It’s worth a listen if you get a chance. Reeves does not hold back.
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