Liz Truss labeled a ‘gambler in a casino’ by Rachel Reeves if the pound sinks

Tthe pound continued to fall this morning as it fell to an all-time low against the dollar in the wake of Kwasi Kwarteng’s “mini-budget” on Friday last week. Shadow Chancellor Rachel Reeves said the currency’s declining value should be a “cause for concern” as she accused Liz Truss and Mr. Kwarteng of acting like “gamblers … Read more

Rayner outlines plans to improve working conditions and review procurement

d Deputy Leader Angela Rayner said Labor would introduce a “decent work” standard to improve workers’ working conditions, alongside plans to review government procurement and outsourcing. In her maiden speech at the Labor Party conference, Ms Rayner said that if her party were in power, it would oversee the “biggest wave of insourcing for a … Read more

Defense spending rises by at least £52bn in response to Russian aggression

T The defense secretary has said Britain will increase spending on its armed forces by at least £52 billion in response to Russian aggression. In his first interview since Liz Truss came in at No. 10, Ben Wallace confirmed the new prime minister is sticking to her campaign promise to increase defense spending by 3%. … Read more

Starmer draws up energy plan and lashes out at ’12 years of failure’ under Tories

s Ir Keir Starmer will use the Labor conference to address voters who are “sick and tired” with rising energy costs and angry at “12 years of failure” among the conservatives. The Labor leader announced plans to end reliance on fossil fuels by 2030, with all of the country’s electricity generated from renewable and nuclear … Read more

Starmer lashes out at ’12 years of Tory failure’ ahead of crunch conference

s ir Keir Starmer claimed there was a “change in the air” with Labor poised to form the next government after 12 years of Tory failure. The Labor leader, who has drawn up plans for a green energy revolution to boost economic growth as a counterweight to the ‘trickle down’ policies of Liz Truss and … Read more

Labor conference gives Starmer chance to highlight dividing lines with Tories

l Abour’s annual conference kicks off on Sunday in Liverpool and expectations are high that Sir Keir Starmer will draw the lines between his party and the new Tory government. Supporters of the Labor leader hope he will use the four-day meeting to capitalize on the unpopularity of the economic measures taken by Liz Truss … Read more

Mini-budget takes a hit – but right-wing think tanks love it

Kwasi Kwarteng has been accused of “betting the house” on economic growth after he announced plans to cut taxes on the rich, paid for by a massive surge in government loans. In a devastating assessment, the highly respected Institute for Fiscal Studies said the chancellor had “set the national debt on an unsustainably rising path” … Read more

Kwasi Kwarteng announces tax cuts worth £45bn

sLeveling Up’s secretary imon Clarke attends the government morning media roundup as he sets the tone for Kwasi Kwarteng’s “mini-budget”. Clarke was told during an interview on Sky News that the Institute for Fiscal Studies think tank had described Liz Truss’ strategy for achieving economic growth as “a gamble at best”. He replied, “No, it … Read more

Labor’s Rachel Reeves beats Tories on mini-budget for the ‘rich’

Rachel Reeves criticized the government’s mini-budget today, saying it rewards the “already rich”. The shadow chancellor described Liz Truss and Kwasi Kwarteng as two “desperate gamblers chasing a losing run”. The Labor front bencher said the government had served a “menu with no prices”. She filled in for the chancellor after he announced a surprise … Read more

What time is the mini-Budget today? Plus, what to expect from Truss’ tax cut plans?

Mr Kwarteng and Ms Truss are reportedly considering accelerating the 1 cent income tax cut – a cut in the base rate from 20 cents to 19 cents in the pound – currently slated for 2024. Mr Sunak confirmed the move when he was Chancellor earlier this year and it is rumored that the move … Read more