Tag Archives: budget 2022

17 October 2022 – (the rest of) today’s press releases

  • The British public don’t need more economic turmoil
  • Hunt’s out of touch advisory panel of asset managers
  • Hunt hints at windfall tax u-turn

The British public don’t need more economic turmoil

Responding to the news that the Chancellor Jeremy Hunt is to fast-track measures to pay for Liz Truss’s mini-budget, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

The Conservative Party have used the British people as an economic football for far too long.

Jeremy Hunt now expects families and pensioners to cope with increased mortgage costs, soaring energy bills, sky-high petrol prices and rising food costs while the unfair bankers bonus is still in place.


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Mini-Budget goes down with all hands…

The inevitable abandonment of the “Kamikwazi” budget by Jeremy Hunt has been greeted by the derision one might expect, even if there was no easy alternative. No cut in the basic rate of income tax, the withdrawal of IR35 changes and the withdrawal of guaranteed support for energy costs beyond April, none of this will win votes, even as it placates the markets.

Responding to Jeremy Hunt’s mini-budget statement, Leader of the Liberal Democrats Ed Davey said:

So much damage has already been done by these Conservatives and they will force millions of struggling families and pensioners to pay for it.

The Conservative

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When it feels like we are all at sea…

I am struggling to contain my feelings about the new government and its first budget. Coming as it does after a mandate so limited in their numbers, from an electorate so isolated in their awareness, it is hard to take. Coming as it does, after the loss of the Queen, a great figure of real stability and decency at home, and amidst more threats from an appalling tyrant of mental instability and indecency abroad, I am personally and politically angry and worried. My natural tendency to see the best in people and situations is being tested. I cannot see two sides to this, and accept them easily as viable and explainable. I am being one sided and openly so. This is, in my opinion the worst government and budget I have ever seen and heard, in forty years of personal interest and or involvement in politics.

The school boy in his early teens joining a political party, who became the politics and history graduate able to understand the issues in depth, all throughout the era of Thatcherism, never felt the personal anger as much mingled with political despair, I feel today.

Now we feel all at sea! Thatcher had a mandate. Where is that for Truss?! I said it before, to those who yearned for the early demise of Boris Johnson, he was and is personally a man unfit to be Prime Minister, but he was and is politically a moderate fitted to politics. He sought a popular mandate and by fair means or foul, got it, and sustained it, because he is a populist who understands people he needs to target. The new government seemingly understands only its own ideology and vested interests. If It is to be described accurately as a result of its first budget, this government are in my view, fiscally irresponsible and morally reprehensible.

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26 September 2022 – today’s press releases

  • Falling pound: Recall Parliament to fix failed Budget
  • Kwarteng must resign if pound reaches parity with dollar

Falling pound: Recall Parliament to fix failed Budget

The Liberal Democrats have called on the Government to urgently recall Parliament, so the Chancellor can fix his disastrous and out of touch Budget which has sent the pound plummeting.

Liberal Democrat Chief Whip Wendy Chamberlain MP said:

Last week the Chancellor announced a shambolic budget that gave huge unfunded tax cuts to big banks and the wealthiest while leaving struggling families and pensioners in the cold. As a result we are seeing the pound plummet into free fall

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Vince Cable on tomorrow’s Spring Statement

Writing in the Independent today, Vince Cable said:

The geopolitical earthquake in Ukraine will generate an economic tsunami, sweeping away comforts and orthodoxies with which we have become familiar in recent decades. We don’t yet know the height of the waves, but we know they are on their way.

The era of low interest rates is first to go. Central banks, including our own Bank of England, are becoming alarmed about inflation and are moving to higher rates, which further depresses consumer demand and investment. Despite rate rises, some forecasters believe the UK could hit 10 per cent inflation by the end of the year and be in recession.

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What would be your dream budget?

Formally, it is the Spring Statement. But to many facing soaring energy, fuel and food prices – not to mention the National Insurance hike and suspension of the triple lock – it is a budget that could make the difference between being warm or being hungry. Being able to afford a few luxuries or having to skimp on essentials. For some it will mean trips to the food bank.

Much has been written on the spiralling cost of living. Just today, I received a polite note from my home energy provider saying announcing a 42% increase from 1 April. Many people …

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