October Budget Will Be Painful, Says Starmer: What to Expect

Published: Aug 27, 2024 Duration: 00:05:20 Category: People & Blogs

Tags : news business business news rishi sunak UK politics keir starmer labour government october budget uk economy downing street qlm business news UK Budget 2024 economic measures tax increases public spending cuts economic challenges public finance government budget budget speech

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[Music] Kia starma warns of painful October budget big asks ahead cier starma has cautioned that October's budget will be painful and will require significant sacrifices from the public speaking from Downing Street the Prime Minister emphasized that short-term hardships are necessary for the longterm benefit of the country while he did not disclose specific details of the forthcoming budget he suggested that those with the Brest shoulders would be expected to contribute more starma criticized the previous conservative government accusing them of leaving both an economic and societal black hole former prime minister Rishi sunna responded by claiming that Labor's plans to raise taxes had now been laid bare since taking office in July labor has focused on highlighting the challenges they inherited and laying the blame on Tory ministers for the current state of the nation starma stated that the situation was worse than we ever imagined accusing the conservatives of creating a 22 billion pound deficit in public finances an accusation the Tories deny starma further criticized the pre previous governments dishonesty accusing them of offering the snake oil of populism that only led to further failures he connected the recent riots to societal cracks that emerged after 14 years of conservative rule suggesting that these were exploited by those involved looking ahead the Prime Minister underscored the need for tough measures to repair the country's foundations he reaffirmed his election pledge not to raise National Insurance income tax or vat however chancelor Rachel Reeves has hinted that some taxes could increase without ruling out adjustments to inheritance tax capital gains tax or pension tax relief labor has already introduced several cost cutting measures including scrapping a proposed cap on social care payments and withdrawing the winter fuel allowance from 10 million pensioners some labor MPS have reported concerns from constituents about at the end of universal winter fuel payments but they believe that st's reasoning will resonate with the public the government's decision to award pay Rises to public sector workers while restricting access to the winter fuel allowance has drawn criticism from some conservatives in defense starma argued that allowing National strikes to continue unresolved would have been even more costly following his speech starma was questioned about allegations of cronyism from the conservatives the opposition has criticized labor for granting a number 10 pass to donor Lord Ali and appointing another donor Ian corfield to a temporary role in the treasury starma responded by stressing the need to work swiftly and ensure the right people are in the right positions while asserting his commitment to restoring honesty and integrity in government in an opinion piece for the Times published ahead of his speech starma highlighted how the Downing Street Rose Garden the setting for his address had become a symbol of rot during the previous conservative leadership he referenced Dominic Cummings Infamous press conference defending his breach of lockdown rules and the controversial photographs of Boris Johnson and his staff during the covid pandemic the prime minister's speech was delivered to an audience of around 50 members of the public including small business owners and public servants whom he met during the election campaign in response to the speech conservative party chairman Richard Fuller dismissed it as performative and accused labor of abandoning its Public Service Ambitions in favor of SAS and unnecessary payouts to unions the SNP and green party also criticized the government with the snp's shoner robis and blaming labor for supporting damaging Tory policies in opposition and green party co-leader Carla Deni criticizing Labor's refusal to tax the super rich liberal Democrat leader sir Ed Davey called for bold and ambitious action from the government particularly in Health and Social care arguing that addressing NHS waiting lists is key to economic growth this new story is brought to you by qlm business news your digital media channel visit qlm buus news.com for more business news stories also follow us on Facebook X and YouTube to help qlm business news bring you more new stories like this please like share and subscribe [Music]

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