Leadership candidate Penny Mordaunt commits to Hunt as Chancellor, and next Monday as date of Debt Plan, says she did have concerns about mini budget, and Truss had been clear that the Cabinet had not been briefed on it…
Earlier former Bank of England Governor Mervyn King blamed the Covid pandemic QE/ printing of money, alongside US & UK governments not having control of public finances for inflation crisis to #BBCLaurak
Mordaunt says she has been in to the Treasury to be briefed by Chancellor Hunt…
Mordaunt says interestingly cant have people making unfunded spending commitments in contest, wont even commit absolutely to 3% defence, pensions triple lock, & benefits uprating
Mordaunt says interestingly cant have people making unfunded spending commitments in contest, wont even commit absolutely to 3% defence, pensions triple lock, & benefits uprating
Mordaunt evading specific tax/ spending answers, though she is the only one to actually declare. Other two have avoided questions so far, or even acknowledging formally standing… every chance PM is appointed without actual policy debate…
Understandably Mordaunt leans on the 2019 manifesto…
Important question now for all 3…
Is the 2019 manifesto consistent with the Hunt Halloween debt plan?
Eg suspected infrastructure spending cuts?
Important question now for all 3…
Is the 2019 manifesto consistent with the Hunt Halloween debt plan?
Eg suspected infrastructure spending cuts?
Mervyn King going further than standard critique of Bank of England and other central banks being slow off the mark raising rates - saying QE at start of pandemic was a mistake that fuelled inflation… directly criticising Bailey.
But notably ex BoE Gov King tells @bbclaurak
“In some ways it could be more difficult” than the Osborne Coalition austerity era…
And that politicians need to confront fact that if spending goes up as expected, then taxes will have to go up to on the average person. NI just cut.
“In some ways it could be more difficult” than the Osborne Coalition austerity era…
And that politicians need to confront fact that if spending goes up as expected, then taxes will have to go up to on the average person. NI just cut.
Opposition leader Starmer says “Labour will be the party of sound money”… but says he wont write manifesto on programme as they want to see the OBR assessment of the “mess” they will inherit…
Implication of Mervyn King’s approach, is that you wouldnt have had same furlough scheme or self employment support, certainly not lasting that long, and that mortgage rates would have shot up during the pandemic…
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