Discover and read the best of Twitter Threads about #greathomesupgrade
Most recents (6)
Kwasi Kwarteng is right to U-turn on one of his #taxcuts for the rich, but he needs to go back to the drawing board and come up with a vastly different plan if he wants to tackle the #costofliving scandal and reassure the markets and the country.
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There is no evidence that lower taxes will yield higher investment or growth.
But we know that lower taxes will reduce support for those that need it the most, and deprive public services on the verge of collapse of much needed investment.
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But we know that lower taxes will reduce support for those that need it the most, and deprive public services on the verge of collapse of much needed investment.
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If the Chancellor is serious about tackling the cost of living scandal and shoring up the economy he will scrap planned tax cuts for the rich and instead:
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Early indications suggest that this is due to be a Budget divorced from reality - a massive transfer of income to the wealthy in the height of the #costoflivingscandal when millions on low and modest incomes are being hammered.
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Tax cuts that disproportionately benefit the rich are not the answer to the crisis we face.
They don’t help the people who need it the most, and rob our creaking public services of the investment they desperately need.
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They don’t help the people who need it the most, and rob our creaking public services of the investment they desperately need.
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The Budget today should do two things:
1. Provide additional protection for families on low to modest incomes via a £750 cost of living allowance to cushion the blow of rising prices, & boosting benefits to cover the increase in energy bills we have seen since last winter.
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1. Provide additional protection for families on low to modest incomes via a £750 cost of living allowance to cushion the blow of rising prices, & boosting benefits to cover the increase in energy bills we have seen since last winter.
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Liz Truss’ intervention to freeze the #energypricecap for 2 years is a big one that shows the government has finally grasped the scale of the challenge.
But there is a sting in the tail.
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But there is a sting in the tail.
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By refusing to ask energy companies - who will be making £170 billion worth of excess profits over the next 2 years - to foot the bill, the government will instead be asking our public services and communities to pay for this through lower investment.
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And for families on low to modest incomes, average #energybills of £2,500 a year will still be a big hit when combined with the rising cost of food and everyday essentials. Yet, the government has done very little to boost their incomes.
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📆 Day 1 in office, and our new PM needs to hit the ground running. The govt has wasted weeks as the country walks into a catastrophic #costoflivingcrisis.
@Trussliz must set out her plan to protect people against rising bills and shore up the economy.
It should include:
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@Trussliz must set out her plan to protect people against rising bills and shore up the economy.
It should include:
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1️⃣ Freezing the #pricecap for the next 6 months while she puts in place a new system of free basic energy with rising tariffs for higher energy use: Short term relief that will protect people against high bills for the long term.
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2️⃣ Implementing a #GreatHomesUpgrade to insulate millions of homes and lower bills and emissions.
3️⃣ Increasing the #windfalltax on #fossilfuel giants: Using this to give families a £750 cost of living allowance, alongside a permanent boost to benefits.
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3️⃣ Increasing the #windfalltax on #fossilfuel giants: Using this to give families a £750 cost of living allowance, alongside a permanent boost to benefits.
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.@UKLabour’s call to freeze the #energypricecap is a bold measure that grasps the scale of the crisis we’re facing.
Millions of families that simply cannot afford to pay more for energy wouldn’t need to live in fear of further hikes.
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Millions of families that simply cannot afford to pay more for energy wouldn’t need to live in fear of further hikes.
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And recent @NEF analysis shows that a 20% #windfalltax on excessive profits & closing of loopholes would raise £14bn. It’s a no-brainer.
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This package should be accompanied by a boost to social security to ensure a real safety net for those who need it - including direct payments to households that are already struggling with the April price rise & increasing cost of food, rent, travel and other essentials.
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At the centre of the #railstrike dispute is a decision by the government to cut investment in our railways and tube by £4bn. This is the wrong call when we should be putting more money into public transport to help people with the cost of travel.
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Rather than bringing unions and train operators back round the table with a new funding settlement, the government is doubling down on the need for pay restraint to stop a wage-price spiral.
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Wages have been stagnant for over 10 years – so many workers have already seen a big squeeze in their living standards. Public sector workers have been particularly hard hit with pay falling by 4% in real terms for over a decade.
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