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.
24.09.2022 - 23:43 / manchestereveningnews.co.uk
Prime Minister Liz Truss has defended her Government's controversial tax cuts as she vowed to 'usher in a decade of dynamism'. Truss has come under fire from Labour who accused the Prime Minister and Chancellor Kwasi Kwarteng of gambling with people’s finances in 'casino economics', and claimed their 'trickle-down' approach will leave the next generation worse off.
But Ms Truss insisted she is 'unapologetic' in 'focusing relentlessly on economic growth', even as the £45 billion tax-slashing package sent the pound tumbling to fresh 37-year lows and sparked a backlash among some of her own MPs. Using more than £70 billion of increased borrowing, Mr Kwarteng on Friday unveiled the biggest programme of tax cuts for 50 years, including abolishing the top rate of income tax for the highest earners.
The Resolution Foundation said Mr Kwarteng’s package will do nothing to stop more than two million people falling below the poverty line. Analysis of the mini-budget by the think tank said 'only the very richest households in Britain' will see their incomes grow as a result of the tax cuts.
READ MORE : Eight key announcements Kwasi Kwarteng made in mini-budget
The wealthiest five per cent will see their incomes grow by two per cent next year, while the other 95 per cent of the population will get poorer as the cost-of-living crisis continues. The Institute of Fiscal Studies (IFS) said only those with incomes of over £155,000 will be net beneficiaries of tax policies announced by the Conservatives over the current Parliament, with the 'vast majority of income tax payers paying more tax'.
IFS director Paul Johnson told BBC Breakfast: "If you’ve got less than about £150,000 a year coming in, if you’re part of the 99 per cent with
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.
A warning from Liz Truss has come back to haunt her after footage showing her saying a tax cuts bonanza would lead to "boom and bust" was unearthed.
The Conservatives face an electoral wipe out in Scotland for the second time in 25 years as polls show voters turning their backs on the party.
Nicola Sturgeon has accused Liz Truss of "ranting" about her opponents during the Prime Minister's speech to the Conservative party conference today.
Prime Minister Liz Truss has defended her Government’s disastrous mini budget that nearly tanked the UK economy.
Conservative backbenchers have warned Liz Truss 'has little more than a week' to save her leadership as she prepares to defend to her 'new approach'.
As the Prime Minister Liz Truss was grilled by Laura Kuenssberg, viewers questioned whether she REALLY understands that 'people are worried'. The PM was quizzed by the BBC presenter on Sunday morning (October 2).
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.
Alister Jack has claimed the biggest tax cuts in the United Kingdom since 1972, funded by £72 billion a year in borrowing, are "small".
The Scottish Conservatives have been accused of "hypocrisy" for supporting Liz Truss's tax cuts for the wealthy, despite several MSPs refusing to vote for her as leader. A group of prominent Tories endorsed Rishi Sunak's leadership campaign - which promised a focus on tackling inflation - before quickly embracing the new Prime Minister after the former Chancellor lost earlier this month.
Prime Minister Liz Truss has paid tribute to the late Queen Elizabeth II in Parliament, describing her as 'one greatest leaders the world has ever known'. MPs observed a minute’s silence in memory of the Queen in the House of Commons chamber on Friday (September 9).
Queen Elizabeth II made history on Tuesday, when she both accepted the resignation of former British Prime Minister Boris Johnson and appointed new Prime Minister Liz Truss at Balmoral Castle in Scotland. Truss is England's third female prime minister and the 15th prime minister to serve during the queen's 70-year reign. Breaking tradition, the 96-year-old reigning monarch chose to relocate the symbolic events due to her ongoing health and mobility issues.
Prime Minister Liz Truss has announced a new energy price guarantee which will hold average household bills to no more than £2,500 for the next two years running up to a general election.
The Prime Minsiter has expressed her concern about the health of the Queen after Buckingham Palace announced a deterioration in the monarch’s health.