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#AceNewsDesk – Kwarteng accused of gambling with UK economy by devolved nations according to Independent News by

Devolved government leaders have demanded an urgent meeting with chancellor Kwasi Kwarteng over his “disastrous” mini-Budget and fears of a new age of austerity.

The finance ministers of Scotland, Wales and Northern Ireland warned that the Liz Truss government’s “huge gamble” on borrowing-fuelled tax cuts will mean a decade of spending cuts.

In a joint letter they shared their alarm over reports that all government departments would be asked to make cuts – pointing out that devolved budget settlements have already been diminished by inflation.

It comes as prime minister Liz Truss has said that her economic plan involves “disruption in the short term” as the Welsh secretary said “rigorous” spending cuts are imminent. 

Her comments come as the S&P ratings on the UK changed their outlook from stable to negative on Friday. 

Writing in The Sun, Ms Truss admitted that “not everyone will like what we are doing” but “we need to get things done in this country more quickly”.


Energy bills to be burned in nationwide cost of living protests

Thousands of people are expected to take to the streets in cities across the UK to burn their energy bills in protest at sky-high gas and electricity costs and the wider cost of living crisis.

Demonstrations are set to take place from Plymouth to Glasgow on Saturday as the energy price cap is lifted, taking the average household bill to a record £2,500 – up from £1,971.

The amount that a household pays for each kilowatt hour of electricity it uses rose to 34p from the already record 28p, while gas prices when from 7p to 10p per kilowatt hour.

My colleague Matt Mathers has more:

Maryam Zakir-Hussain1 October 2022 12:23


Tory voters think Sunak would have been better PM

Conservative party voters believe Rishi Sunak would have made a better prime minister than Liz Truss, it has emerged. 

Only 34 per cent of 2019 Tory voters said they thought Ms Truss made a good prime minister, while 45 per cent said Mr Sunak would be a good PM, according to a JL Partners poll for the Daily Telegraph.

(PA Wire)

Maryam Zakir-Hussain1 October 2022 11:58


Truss has ‘undermined’ credibility of government, says ex-Treasury chief

Lord Turnbull, former permanent secretary at the Treasury, accused the Liz Truss and Kwasi Kwarteng of undermining the Bank of England, the OBR and the Treasury, Adam Forrest reports. 

“Truss and Kwarteng have disparaged and disrespected all three in different ways, fatally undermining the government’s credibility in financial markets,” he wrote in the Times

“The government’s continuing refusal yesterday to fill the information gap indicates it has still not understood what lies behind the issue.”

Maryam Zakir-Hussain1 October 2022 11:35


Devolved nations demand meeting with Kwasi Kwarteng over austerity fears

Devolved governments leaders have demanded an urgent meeting with chancellor Kwasi Kwarteng over his “disastrous” mini-Budget and fears of new age of austerity.

The finance ministers of Scotland, Wales and Northern Ireland warned that the Liz Truss government’s “huge gamble” on borrowing-fuelled tax cuts will mean a decade of spending cuts.

In a joint letter they shared their alarm over reports that all government departments would be asked to make cuts – pointing out that devolved budget settlements have already been diminished by inflation.

Politics writer Adam Forrest has more:

Maryam Zakir-Hussain1 October 2022 11:05


Ministers ‘dragging feet’ on adding Black history to curriculum, teaching leader warns

Teachers have accused the government of dragging its feet on including Black history in the national curriculum.

As Black History Month begins, the president of the National Education Union (NEU) has questioned why the government needs two years to commit to making the curriculum more inclusive.

Currently, Black history doesn’t feature in the national curriculum, meaning it is not compulsory to be taught in UK schools – something that campaigners and teachers have been lobbying to change for a number of years.

Read more from our race correspondent Nadine White:

Maryam Zakir-Hussain1 October 2022 10:50


Taxing richest 1% to pay for green funds will make society ‘more equal’, Green Party co-leader says

Green Party co-leader Adrian Ramsay has said the party’s call for a tax on the richest one per cent in society to pay for a green fund aims to “make our society more equal”.

The tax would see the wealthiest people in the country contribute one per cent of their money to a “fund to create a greener society”.

Mr Ramsay told BBC Breakfast: “We’re calling for this at a time of economic and political crises. We’ve seen economic chaos caused by a mini-budget that has been making our society more unequal.

“This is about trying to make our society more equal.”

Maryam Zakir-Hussain1 October 2022 10:00


Liz Truss admits UK faces economic ‘disruption’ because of mini-Budget

Liz Truss has admitted her chancellor Kwasi Kwarteng’s mini-Budget caused “disruption” as she vowed to “do things differently” from previous Conservatives leaders.

As Tories prepare for their annual conference, the prime minister warned the country faced a “difficult winter” ahead as she made clear she had no plans to change course her radical, borrowing-fuelled tax-cutting agenda.

“I recognise there has been disruption but it was really, really important we were able to get help to families as soon as possible,” the PM told broadcasters on Friday – pointing to the cap on the cost per unit of energy.

Maryam Zakir-Hussain1 October 2022 09:35


Mick Lynch apologises to London Marathon runners for rail strikes but says government to blame

RMT general secretary Mick Lynch has apologised to the public including participants of the London Marathon as they face transport difficulties because of rail strikes.

Speaking to BBC Breakfast, Mr Lynch said the union did not want to inconvenience people but warned it was the government who had brought the dispute on.

Asked whether he would apologise to the public, he said: “Absolutely. We don’t want to inconvenience the public and we’re really sorry that that’s happening.

“But the government has brought this dispute on. They (put) the challenges down to us, to cut our jobs, to cut our pensions and to cut our wages against inflation.”

Mr Lynch said that he had spoken with new Transport Secretary Anne-Marie Trevelyan, who seemed “very pleasant,” but added what was needed was a change of attitude at the negotiating table.

He added: “Grant Shapps was not allowing a compromise, so I hope there’s a change of mood and a change of stance.”

Maryam Zakir-Hussain1 October 2022 09:10


Cabinet minister suggests ‘rigorous’ spending cuts to come

Welsh secretary Robert Buckland admitted there had been “some turbulence” in the markets this week – but insisted the government would stick with the plan to “incentivise growth”. 

With economists and union leaders warning a return to austerity, the cabinet minister suggested public spending cuts were on the way, Adam Forrest writes. 

“We intend to be extremely rigorous when it comes to bearing down on public expenditure,” Buckland told Sky News – saying there would be announcements on spending in the weeks ahead. 

The minister said the government wanted to reassure market to “will be seeking to balance the books in a sensible way” departments as “efficient and as lean as possible”.

Maryam Zakir-Hussain1 October 2022 09:06


Greens call for £75bn tax hit on polluters and the wealthy

The Green Party has called for an emergency £75 billion tax package targeting polluters and the country’s wealthiest individuals, to fund a nationwide insulation and renewable energy programme.

At the party’s annual conference in Harrogate, co-leader Carla Denyer called for a new wealth tax on the richest 1% of households – starting with a marginal rate of 1% on those with £3.4 million, rising to 10% on those with £18.2 million and above.

She said there should be a “dirty profits tax” on North Sea oil and gas which would be used as a stepping stone towards a permanent carbon tax on polluting industries.

Maryam Zakir-Hussain1 October 2022 08:50

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