Emergency talks with head of Office for Budget Responsibility follow dramatic market changes since last Friday’s mini-budget
Liz Truss has previously suggested universal benefits such as the state pension should be scrapped because of the “huge expense” to taxpayers of “recycling” their money through the system – prompting fears she could go further still with her plans to cut back the benefits bill.
The proposal, included in her motion to the Liberal Democrat Youth conference in spring 1995, highlighted the “enormous – and rising – cost of pensions and child benefit”, calling for a “search for realistic alternatives to universal benefits”.
We are seeing this government’s true colours. It’s little surprise Liz Truss is refusing to provide help to those who need it most given she has long wanted to scrap the state pension and child benefits.
The Conservative government could not be more out of touch with the British people. As inflation sky-rockets, interest rates spiral and borrowing surges, they’d rather give tax cuts to banks, massive corporations and billionaires than guarantee support for struggling families and pensioners.
The prime minister’s views are not the same as they were 27 years ago.
It’s not a very broad path. There is a lot of work to be done. This is a huge challenge.
Liz Truss will attend a meeting of the European Political Community (EPC) meeting in Prague in October, according to PA Media. It is understood the prime minister wanted to attend because energy and migration, both items on the agenda of the meeting, are two of her priorities and that she sees the need to work with other European leaders to resolve the issues.
A YouGov poll for the Times gives Labour a 33-point lead over the Conservatives, understood to be the biggest gap recorded since the late 1990s.
The NASUWT has given a formal dispute notice to the Department for Education and other employers over its demand for a 12% pay rise for teachers, with the threat of a strike ballot if that is not met.
Liz Truss repeatedly suggested that the “international situation” was primarily responsible for the economic turmoil in the UK markets. But in a speech, Huw Pill, chief economist at the Bank of England, will stress that the mini-budget is a factor, too.
Kwasi Kwarteng heightened speculation that benefits won’t be uprated in line with inflation. Asked if he would honour the commitment of the previous government, he said: “We are talking about helping people in the round. It is premature for me to come to a decision on that. But we are absolutely focused on making sure that the most vulnerable in our society are protected through what could be a challenging time.”
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