@Gilesyb This is spot on. In 2010 at least we had a number of levers we could push/pull. The fact we managed to cut personal and corporate tax shows the amount of flexibility that was available. Options now are very much limited.
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@FT If true, this is the clearest indication yet that the Conservatives have given up on the general election. Would love to see the @hmtreasury analysis of what this would mean in practise.
@BT. mum has Alzheimers and I signed her up to your social tariff. You then cancelled the order THREE TIMES. She's now been cut off from her old old provider on the date the engineer was supposed to come. Now someone with Alzheimers has no phone or Internet, cut off from family.
@Gilesyb This is all spot on. Not only are the impacts of spending not fully spelt out, they are not even investigated. Unfortunately it is far too easy for the @hmtreasury to fall back on a mindset that says spending cuts are for departments to deal with alone.
What *that* @RedfieldWilton poll could look like in a General Election:
LAB: 515 (+313)
LDM: 47 (+36)
SNP: 42 (-6)
CON: 22 (-343)
PLC: 4 (=)
GRN: 1 (=)
Labour Majority of 380.
Changes w/ GE2019.
@stevewebb1 @hmtreasury They may be young looking, but heaps of experience, intelligence and insight in the @hmtreasury people I recognise in the picture.
.... No10 see this is a communications and stakeholder error not a policy messup. So for them, it's business as usual.
I'm as sure as I can be that the Bank of England - and much of the City and the IMF - do not agree
Golly.
Markets are now pricing in 5.5% interest rates from the @bankofengland next year.
Up from 4.75% yesterday.
Deutsche Bank saying BoE may need to table an emergency rate hike as soon as next week.
Extraordinary.
And, as I said yday, higher rates are a big, big deal.
Ugh.
As @trussliz takes the reigns of @10DowningStreet, we went to the @hmtreasury today to continue pushing for a reduction in VAT on public EV charging.
We were very frank about what the catastrophic increases in charging costs will mean for the EV transition.
Always embarrassing as a trade body when civil servants are forced to inform the press that you “demonstrate a woeful misunderstanding of the situation” 🔥
https://t.co/hl3dQLbwJD
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We were delighted to have the Chancellor of the Exchequer Rt Hon @RishiSunak MP visit Alverton Community Primary School to see the @KickStart_Money programme, delivered by @MyBnk, in action!
It was fantastic to see his support for early intervention #financialeducation.