Ian Blackford has accused Liz Truss of "ignoring the damage and the chaos" of her mini-budget that plunged the markets into turmoil due to her unfunded tax cuts.
23.09.2022 - 10:23 / manchestereveningnews.co.uk
Chancellor Kwasi Kwarteng will deliver a variety of economic measures today as the government introduces a mini-budget to tackle the cost of living crisis.
It is expected that Prime Minister Liz Truss will fulfil her promise of tax cuts alongside a reversal of the increase to National Insurance contributions which was expected to come into effect from November. While speaking to the press in New York, Ms Truss said that she is willing to take "difficult decisions" to help push economic growth across the country.
The economic plans will be unveiled in the House of Commons today at 9.30am as the Chancellor will speak to his fellow MPs. Today's announcement will be different from a usual Budget - which is made twice a year - and will not include any major announcements such as changes to fuel duty tax.
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By using the term 'mini-budget', the government can avoid publishing a statement from the Office for Budget Responsibility (OBR) - which provides an independent analysis of how much new policies will cost. Ms Truss told Sky News: "What we know is people on higher incomes generally pay more tax so when you reduce taxes there is often a disproportionate benefit because those people are paying more taxes in the first place.
"We should be setting our tax policy on the basis of what is going to help our country become successful – what is going to deliver that economy that benefits everybody in our country.”
Critics such as former Chancellor Rishi Sunak, have argued that the predicted tax cuts will force the government to borrow a high amount of money which will likely be paid back by taxpayers. Despite this, Ms Truss
Ian Blackford has accused Liz Truss of "ignoring the damage and the chaos" of her mini-budget that plunged the markets into turmoil due to her unfunded tax cuts.
Disney’s 100th Anniversary will kick off at Disneyland on January 27, 2023, the company announced today. “The heart of the celebration at Disneyland Resort,” the parks division statement read in part, with special limited-time offerings taking place throughout the resort all year long.
HBO series Succession.On Monday (October 3), the Chancellor of the Exchequer said in a statement that “we get it and we have listened”, as he announced plans to scrap a controversial tax cut for those earning over £150,000 a year.His statement, however, was soon mocked on social media, with many comparing it to a speech given by Sarah Snook’s character Shiv Roy in Succession.In a season three episode of the hit show, Shiv used the phrase “we get it” while addressing Waystar Royco employees about a series of scandals that had hit the company.“As a #Succession obsessive, I’m really enjoying the tories leading with “We get it” on the 45p tax rate climb down. Is @lucyprebblish writing the script for our government now?” wrote one person.Another joked: “Does the UK government have the same PR advisers as Waystar Royco?”“Wasn’t ‘we get it’ literally the slogan Waystar went with in Succession after it came out that they’d done a bunch of shady things? And then ‘we hear you’ after their version of Siri was spying on people?” added another.As a #Succession obsessive, I'm really enjoying the tories leading with "We get it" on the 45p tax rate climb down.
This year continues to be a difficult one for many, especially Manchester’s hospitality businesses. While the cost of living rises for domestic households are starting to be felt, Manchester’s restaurants, bars and pubs have also been feeling the strain as the cost of ingredients soars along with their energy bills and general operating costs.
Prime Minister Liz Truss admitted that it will be a “difficult winter” for the UK hours before the new energy price cap came into force from today (Saturday, October 1). But she defended the mini-budget revealed earlier this week despite the “disruption” the plans caused.
The independent fiscal watchdog will deliver a forecast to the Chancellor next week as the fall-out from the mini-budget continues.
During a time of financial crisis there is one person that many people turn to for advice - and that is Martin Lewis. The Money Saving Expert founder often offers reliable, up-to-date guidance for those struggling in the midst of the cost of living crisis, but today (September 28) it appeared the finance guru became lost for words.
MP Rupa Huq has been suspended from the Labour Party after she was heard describing the chancellor, Kwasi Kwarteng, as "superficially" black.
The pound has hit an all-time low against the dollar while Chancellor Kwasi Kwarteng has defended his tax cuts, which benefit high earners most. Sterling slumped last Friday (September 23) moments after the new Chancellor revealed his 'mini-budget' in the House of Commons.
A National Trust boss has hit out at the Government’s latest plans that are going ‘in the opposite direction’ to supporting the environment. The organisation believes that the recent Investment Zones announcement made by new Chancellor Kwasi Kwarteng on Friday could lead to harm for green spaces.
Sir Keir Starmer has accused the Government of 'gambling with people's finances and mortgages' with its 'casino economics'. Speaking before his party's annual conference in Liverpool the Labour leader said Prime Minister Liz Truss and Chancellor Kwasi Kwarteng had shown their 'true colours' with their raft of tax cuts that mainly benefit the wealthy.
A shocking average of 242 incidents of crime and anti-social behaviour PER MONTH were reported on and around Greater Manchester's Metrolink network over the last 12 months, new figures reveal. That equates to an annual total of 2,904 - or around 60 reports every week.
Labour leaders in Greater Manchester have been reacting with anger to the mini-budget announced by the government this morning. Kwasi Kwarteng lifted the cap on bankers bonuses and scrapped the highest tax rate for those earning £150k a year, as well as a raft of other tax cuts, in a controversial budget today.
A man was taken to hospital after a crash between a tractor and a car in Bury this morning.
The government has outlined its mini-budget and, despite what its name suggests, the announcement was far from small and featured lots of changes that will affect people up and down the country. In particular, one big shake-up is coming to those on Universal Credit, with Chancellor Kwasi Kwarteng revealing that more than 100,000 people on benefits are likely to be affected by the change.
The UK Government has a new prime minister in Liz Truss and a new Chancellor in Kwasi Kwarteng.
Martin Lewis called the government’s mini-budget statement ‘staggering’ as he analysed the news on Twitter. Chancellor Kwasi Kwarteng delivered the announcement in the House of Commons on Friday morning.
The chancellor has this morning set out the government's plan to 'solve the riddle of growth' and to help people with the cost-of-living crisis with widespread tax cuts for the highest earners in a 'new era'. Kwasi Kwarteng delivered the government's mini budget to the House of Commons as he announced expected caps to rising energy bills and lifting the cap on bankers bonuses.