5 key takeaways from Jeremy Hunt’s budget

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https://leftfootforward.org/2024/03/5-key-takeaways-from-jeremy-hunts-budget/

A budget totally out of step with what people want and need.

Today [yesterday] saw Chancellor Jeremy Hunt deliver his much-awaited Spring Budget. The stakes couldn’t be higher, with the economy in recession, millions struggling to make ends meet and a forthcoming general election.

In what is likely to be the last budget, and possibly the final fiscal event before the general election later this year, Hunt sought to present a rosy picture of the economy, one which is totally divorced from reality.

A budget totally out of step with what people want and need, opinion polls have repeatedly shown that the British public prefer investment in public services rather than tax cuts. There was no bold and radical plan to get the UK economy out of economic stagnation, to tackle poor productivity or to improve public services.

https://leftfootforward.org/2024/03/5-key-takeaways-from-jeremy-hunts-budget/

Continue Reading5 key takeaways from Jeremy Hunt’s budget

Greens say that people can see through pre-election Budget tax bribes

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Image of the Green Party's Carla Denyer on BBC Question Time.
Image of the Green Party’s Carla Denyer on BBC Question Time.

“People can see through these pre-election tax bribes that will have to be paid for by cuts to our NHS and other vital public services,” says Green Party co-leader Carla Denyer. 

Denyer said: 

“People are crying out for investment in social care, in our NHS and in dentistry. We needed a ‘care full’ Budget but have ended up with a careless, reckless Budget. 

“Chancellor Jeremy Hunt is attempting to bribe the electorate through tax cuts, which can only mean more pain for public services that are already on their knees.   

“People won’t be richer, healthier or happier because of this Budget. People know a con when they see one.  

“The Fairness Foundation found only 16 per cent of the British public and 17 per cent of Conservative voters would support tax cuts if it meant public service cuts.

“Councils are going bust up and down the country, NHS waits are getting longer, dentists can’t be found, while anyone travelling by train or bus, or visiting our town centres feels the lack of investment all around them. 

“These headline tax cuts will do nothing to reverse the decade-long, real-terms wage freeze most workers have faced under successive Conservative governments. 

“The Resolution Foundation says those earning up to £19k pa will be losers because of freezing of tax thresholds, while pensioners and those on benefits gain nothing at all.

“There is wealth in the UK, but it is distributed unfairly. Our economy is failing because our wealth, rather than circulating and benefiting everybody, is held in the stagnant assets of the super-rich.  

“So, we needed a Budget that released the money available from a wealth tax to invest in the green jobs of the future, to cut NHS queues and restore nature and the places we live and work. 

“We needed a Budget that introduced a Wealth Tax, and reformed Capital Gains Tax and National Insurance to raise over £50bn per year.

“That would have provided the vital public investment our country is crying out for. 

“Now we have Labour huffing and puffing but offering no real alternative to being locked into a Conservative-forged cuts straitjacket. 

“Thankfully, a General Election is coming where people can vote Green for the real change that will lead to a fairer, healthier and more caring country.” 

Continue ReadingGreens say that people can see through pre-election Budget tax bribes

Damning report warns UK on course for second ‘lost decade’ ahead of Budget

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https://leftfootforward.org/2024/03/damning-report-warns-uk-on-course-for-second-lost-decade-ahead-of-budget/

Tories devastating record set to continue unless Budget delivers ‘desperately needed measures’ to recover living standards

In a bleak assessment of the Tories track record, the 2020s are on course to be the ‘second lost decade’ in living standards, a leading charity has warned the Chancellor ahead of his Spring Budget announcement. 

Leading anti-poverty charity, Joseph Rowntree Foundation (JRF) published the damning report on Monday, warning that, without political intervention, this Wednesday’s budget risks condemning Britain to another decade of declining living standards. 

Based on current government spending plans, working families could be £1,900 a year worse off by 2029 than in 2021. While essentials are predicted to remain less affordable relative to post tax earnings until 2029.

The cutting analysis of the UK’s economic trajectory is a warning to Jeremy Hunt that if he fails to deliver immediate measures to support living standards in the coming budget, then this will be the result. 

Decisive intervention from policy makers is what the charity has urged, as it warned that many families will be poorer by the end of the 2020s than at the start. While the Chancellor must prioritise providing long-term economic security for households requiring “the right political will” to turn the situation around. 

Currently, post-tax earnings are £2,400 a year lower for the average working family than they were in 2021, while essential goods and services for the average family are £270 a year more expensive than at the beginning of 2021, the JRF research found.

https://leftfootforward.org/2024/03/damning-report-warns-uk-on-course-for-second-lost-decade-ahead-of-budget/

Continue ReadingDamning report warns UK on course for second ‘lost decade’ ahead of Budget

‘Bolder action is needed:’ Anti-poverty campaigners issue home truths for the Chancellor ahead of Spring Budget

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https://leftfootforward.org/2024/02/bolder-action-is-needed-anti-poverty-campaigners-issue-home-truths-for-the-chancellor-ahead-of-spring-budget/

‘Cost of living support may be receding but the tide of people not being able to afford life’s essentials is not. It is time we moved from stop-gaps to sustainable solutions.’

February 22, 2024, marked the last of the cost of living payments being sent out. The cash top-ups had been awarded to people receiving means-tested benefits, disability benefits, and pension credits, at regular intervals over the course of the cost of living crisis. They have been a lifeline for around eight million low-income families.

But with rising living costs driving disadvantaged households further into poverty, with prices still rising despite inflation easing, and food and energy remaining at extortionate levels, charities and experts have warned that the payments are not enough. They have expressed fears about what may happen if the government does not announce additional payments.

The final cost of living payment has renewed calls for the introduction of a system that is there whenever anyone falls on hard times, rather than being just a ‘stop gap’ solution.

Ahead of the Spring Budget on March 6, anti-poverty charities and campaigners are calling on the Chancellor for bolder action to tackle poverty during the cost of living crisis.

https://leftfootforward.org/2024/02/bolder-action-is-needed-anti-poverty-campaigners-issue-home-truths-for-the-chancellor-ahead-of-spring-budget/

Continue Reading‘Bolder action is needed:’ Anti-poverty campaigners issue home truths for the Chancellor ahead of Spring Budget

Cost-of-living crisis still hammering households as recession predicted

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https://morningstaronline.co.uk/article/cost-living-crisis-still-hammering-households-recession-predicted

Image of cash and pre-payment meter key
Image of cash and pre-payment meter key

THE cost-of-living crisis is still hammering households in every corner of the country, the TUC warned today, as inflation figures remained unchanged and Britain is believed to have slipped into recession.

The union body called for ministers to extend cost-of-living payments which are set to end by March after figures by the Office for National Statistics (ONS) revealed that Consumer Price Index (CPI) inflation remained at 4 per cent in January.

Food prices fell for the first time by 0.4 per cent since September 2021, with the cost of bread and cereals, cream crackers and chocolate biscuits falling, the ONS said.

The costs are still 7 per cent higher than a year ago.

Prime Minister Rishi Sunak insisted that the economy has “turned the corner” following the data.

But the ONS is due to publish gross domestic product (GDP) figures for December on Thursday and is predicted by experts to reveal that Britain’s economy contracted for the second quarter in a row in the final three months of 2023.

https://morningstaronline.co.uk/article/cost-living-crisis-still-hammering-households-recession-predicted

Continue ReadingCost-of-living crisis still hammering households as recession predicted

Schools crippled by soaring PFI bills

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https://morningstaronline.co.uk/article/schools-crippled-soaring-pfi-bills

School children in a classroom, November 27, 2019

UNIONS and campaigners slammed private firms today for imposing crippling maintenance bills on schools locked into Private Finance Initiative (PFI) contracts.

PFI schools are bound by 25 to 30-year contracts with private firms, who own and maintain the schools until taxpayers’ money repays the debt.

Over 900 schools have been built through PFI contracts since the 1990s. The initiative was eventually scrapped in 2018.

The BBC spoke to one head teacher in Liverpool who said that nearly 20 per cent of the school’s entire budget is being squandered on contracts.

https://morningstaronline.co.uk/article/schools-crippled-soaring-pfi-bills

Continue ReadingSchools crippled by soaring PFI bills

Tory MP blasted for claiming UK’s benefits system is ‘very generous’

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https://leftfootforward.org/2024/01/tory-mp-blasted-for-claiming-uks-benefits-system-is-very-generous/

The UK has the worst safety net for the unemployed in north-west Europe

Viewers have taken issue with a statement by Tory MP Chris Philp who claimed that the UK’s benefits system is ‘very generous’, in an interview this morning.

Speaking to Sky News on the steep rise of shoplifting, the Policing Minister was asked if he had any sympathy for people stealing for food. He argued that there was “no excuse” because the UK’s benefits system is “very generous”.  

Philp said: “We have a very generous benefits system, we’re spending well over £100 billion on working-age benefits, they went up by 10% in April this year they’ll go up by another 6 or 7%. National Minimum Wage has just gone up by around 10%. There is no excuse at all for any criminal activity, including shoplifting.”

However, people were not impressed at being told by a politician, who’s current net worth is around £3 million, that the benefits system is ‘very generous’.
One X user responded: “Here is a challenge for Chris Philp – try living on ‘generous’ UK benefits for a month and then report back.”

Another wrote: “Clearly living in his own bubble. How disconnected from reality. The rental prices, bills have risen to unmanageable levels, the benefit system is completely inadequate.”

https://leftfootforward.org/2024/01/tory-mp-blasted-for-claiming-uks-benefits-system-is-very-generous/

Continue ReadingTory MP blasted for claiming UK’s benefits system is ‘very generous’

First-time buyers fall to ‘lowest level in a decade’

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https://morningstaronline.co.uk/article/first-time-buyers-fall-lowest-level-decade

Woman looking at advertisements in an estate agents window, July 20, 2023

CAMPAIGNERS have blasted a lack of regulation in the housing market that leaves people trapped with no choice but to hand over their wages to landlords.

Today’s condemnation came as new figures revealed that the number of first-time buyers had plunged to its lowest level in a decade.

Figures issued by the Yorkshire Building Society showed that the number of first-time buyers in the mortgage market in 2023 stood at 290,000, shrinking by a fifth compared with 2022.

The decrease in first-time buyers followed a string of now-paused interest hikes first made by the Bank of England in December 2021, which pushed up borrowing costs, including mortgages.

https://morningstaronline.co.uk/article/first-time-buyers-fall-lowest-level-decade

Continue ReadingFirst-time buyers fall to ‘lowest level in a decade’

Energy price cap rise will ‘hammer households even harder’ this year, union body warns

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https://leftfootforward.org/2024/01/energy-price-cap-rise-will-hammer-households-even-harder-this-year-union-body-warns/

Image of cash and pre-payment meter key
Image of cash and pre-payment meter key

The leading trade union body has slammed government policy for benefiting corporate profiteering at the expense of household bills, leading renewed calls to nationalise the energy sector after the 5% energy price cap rise.

Households will be ‘hammered even harder’ in 2024 the Trades Union Congress (TUC) has said, as the Ofgem price cap rise came into effect from January 1, which will see households across the country face a 5% increase in their energy bill.

It has led to further warnings from charities about struggling households facing another cold start to the year and renewed calls for government support to help households struggling with their energy bills.

“No one should struggle to get by in one of the richest countries in the world,” said TUC General Secretary Paul Nowak.

“But 13 years of wage stagnation and cuts to social security have left millions badly exposed to sky-high bills this winter.”

With energy bills already 50% higher than two years ago, Nowak said the price cap rise will only “hammer households even harder in the coming year”.

Warm This Winter, a coalition of 50 leading UK charities, warned of the effects the government’s inaction at tackling the energy crisis will have across services.  

“Failure to avert this cold homes crisis will lead to pressure on the NHS, a mental health catastrophe and additional winter deaths caused by living in cold damp homes,” said Fiona Waters, Warm This Winter spokesperson.

https://leftfootforward.org/2024/01/energy-price-cap-rise-will-hammer-households-even-harder-this-year-union-body-warns/

Continue ReadingEnergy price cap rise will ‘hammer households even harder’ this year, union body warns

Unions call for end of ‘rampant profiteering’ as pre-Christmas food inflation remains at 9.2%

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https://www.morningstaronline.co.uk/article/unions-call-for-end-of-rampant-profiteering-as-pre-christmas-food-inflation-remains-at-9

Shoppers in a supermarket, October 15, 2021

UNIONS called for an end to “rampant profiteering” as official figures showed food inflation remains at a painfully high 9.2 per cent in the run-up to Christmas.

Unite general secretary Sharon Graham said yesterday’s larger-than-expected drop in overall inflation would not offset the real-terms fall in wages this Christmas.

She said: “Headline inflation might be slowing, but workers know their wages aren’t going as far as they did two years ago.

“Even the competition regulator now admits what Unite has said all along: that firms have been exploiting the cost-of-living crisis to raise prices excessively.

“It’s time the government and Bank of England tackled the rampant profiteering in our economy to get inflation under control.”

Responding to the figures showing CPI inflation slowing to 3.9 per cent and RPI inflation to 5.3 per cent, TUC general secretary Paul Nowak added: “Today’s inflation figures will provide scant relief for hard-pressed families. Prices are still going up — just a bit more slowly.

“Household budgets remain under immense pressure. And many families will struggle with the cost of Christmas, with food and energy bills sky high.”

https://www.morningstaronline.co.uk/article/unions-call-for-end-of-rampant-profiteering-as-pre-christmas-food-inflation-remains-at-9

Continue ReadingUnions call for end of ‘rampant profiteering’ as pre-Christmas food inflation remains at 9.2%