Miatta Fahnbulleh Profile picture
Sep 23 5 tweets 2 min read
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.

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.

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.

This should be paid for by toughening the #windfalltax on profiteering energy producers, and increasing the tax paid on wealth.

2. Put the building blocks in place to get us out of this energy crisis: through a #GreatHomesUpgrade to reduce our energy use by insulating millions of homes, and by ramping up the production of clean energy through co-operative energy providers that we own.


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More from @Miatsf

Sep 8
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.

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.

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.

Read 5 tweets
Sep 7
📆 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:

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.

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.

Read 4 tweets
Aug 17
📈 #Inflation has hit 10.1% as prices continue to rise.

This spike in prices is all the more painful because it is hitting at a time when:

- Living standards have been squeezed for over a decade, leaving people with little cushion to absorb this

- Millions of families were already unable to make ends meet because our social safety net has been ripped up, and

- Public services are on their knees after years of underinvestment.

Leaving families & the economy to languish won’t prevent inflation getting worse, & risks a deep recession which will scar our economy.
Govt should urgently:
1️⃣ Increase the national #livingwage to reflect the #costofliving & support workers to negotiate fair wage deals

Read 5 tweets
Aug 15
.@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.

And recent @NEF analysis shows that a 20% #windfalltax on excessive profits & closing of loopholes would raise £14bn. It’s a no-brainer.

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.

Read 6 tweets
Jun 22
Today, #inflation has continued to climb to a 40 year high of 9.1%.

When a third of people in the UK are already struggling to afford everyday essentials, these price rises will deliver yet another painful blow.

With 10 years of wage stagnation and a hollowing out of our social security system, it’s no wonder people are now breaking under the pressure of soaring prices.

And the government’s excuse for not acting big simply doesn’t stack up.

Failing to support the economy risks long-term economic scarring that could take generations to turn around.

Read 5 tweets
Jun 21
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.

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.

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.

Read 6 tweets

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