The Truss-led Government is not only incompetent but on the side of the rich, NOT working people.
During a cost-of-living crisis, Chancellor Kwasi Kwarteng thought it a great idea to ditch the top tax rate for Britain’s wealthiest.
In a humiliating U-turn, that plan has been abandoned but Government is still scrapping the cap on bankers’ bonuses.
Truss, a bad Margaret Thatcher tribute act, intends to fill the financial blackhole with a return to austerity that will impact on working people and the vulnerable.
She’s not ruling out further cuts to public services and has refused to commit to raising benefits in line with soaring inflation.
We have ideologues in charge who are out of touch with reality and out of their depth.
Within days of Truss taking the helm, there’s been a run on the pound and on Government bonds, forcing the Bank of England to spend £65 billion propping up UK pension funds.
A knock-on effect is that lenders have hiked up mortgage rates, creating huge concern for homeowners in my constituency who are already facing skyrocketing energy bills.
And the outlook isn’t great. Next year the UK is set for the slowest growth among the richest economies, with workers currently earning £88 a month less in real terms than in 2008.
The Tories’ ‘Getting Britain Moving’ slogan at conference could be translated as ’12 years of failure’.
Their discredited ‘trickle down’ economics - the idea that everyone gains if you make the rich even richer, doesn’t work. Instead, the money flows into overseas tax havens and share portfolios.
At Labour’s Liverpool conference, we announced a bold but realistic vision for growth based around green energy to create decent jobs, bring down prices and ensure security of supply.
The publicly-owned Great British Energy company would invest in wind turbines, solar, tidal, hydrogen and nuclear to the benefit of UK taxpayers and the environment.
I also believe our plans for a publicly-owned railway will go down well with the people of Northwich so we have regular and reliable services and stations that don’t collapse!
It’s early days but Labour is shaping up into a government in waiting.
The polls are looking good but the only poll that counts is the General Election and my goodness we need one now given the mess created by Truss who has no mandate to govern.
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