Embattled PM Liz Truss has switched Chancellors after just 38 days but this won’t help Northwich constituents reeling from her chaos.
Rearranging deck chairs on the sinking Tory ship is little comfort to the 13,854 Cheshire West households facing an eye-watering jump in mortgage repayments next year as a result of the Tories crashing the economy.
Homeowners coming off two-year fixed term mortgages in October 2022 are set to pay £500 a month more on average after the Government’s disastrous mini-budget.
Installing Jeremy Hunt as Chancellor – the former health secretary who decimated our NHS – is no solace to private tenants whose rent is going through the roof as landlords pass on the increased cost of borrowing.
This at a time when families are already struggling with a cost-of-living crisis, including rocketing food and energy bills.
And now the Government is scaling back energy support which begs the question – why won’t they adopt Labour’s suggestion of a windfall tax on the excess profits of the energy giants to fund their plan, instead of burdening the taxpayer?
It’s incredible just how much damage the ‘human wrecking ball’ Truss has caused in such a short space of time.
Forced to prop up the markets, the Bank of England spent £65 billion of taxpayers’ money, adding to the nation’s debt and meaning huge interest payments must be diverted away from spending on the nation.
The PM’s whole economic philosophy now lies in tatters along with her credibility.
Hunt reversed the tax cuts Truss claimed were central to ‘getting Britain moving’ in a humiliating about-face.
Last week Truss said there would be no cuts to public services. This week Hunt is ushering in austerity MK II for our struggling schools, local councils, hospitals and the police.
Britain is broken. After 12 years of Tory Government we have an economy predicted to go into recession and forecast to have the lowest growth among the world’s richest countries.
People have had enough.
Boris Johnson had to be forced from office after his law-breaking parties during Covid. Now we have Truss, an ideologue whose failed experiment means she remains in office but is no longer in power.
What we need urgently is a general election. It’s time for a new team to take charge. Labour will grow the economy, properly fund our public services and provide stability.
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