1p Cut in basic income tax, delayed in till 2023 - Liz Truss Era

Guardian - Live Blog Reports in its 6.28pm post the following, " Chancellor to 'delay 1p income tax reduction'.....The new chancellor Jeremy Hunt is set to delay a 1p cut in income tax to help plug a black hole in the public finances that had reached £72 billion, according to the Sunday Times.  "

Lets Get Real:

The RIGHT of the Conservative Party will not be happy, they have lost the 45p abolition and now they will have to wait a YEAR for the basic rate of tax to go down to 19p.   The only main part left in the mini budget in the gas cap for two years, that has to be kept or the Conservative Party is TOAST.   As noted in the Guardian, this was the policy of the former Chancellor Rishi Sunak, who ran against Truss in the Conservative Leadership contest, at this rate the Conservative MPs should make Sunak the next PM, what is the point of Truss, her Command of her MPs was never there, and now it is gone totally.  The question do the Conservatives DARE throw out another PM, they will look like fools after May, Johnson, Truss, the Conservatives are not thinking, they have allowed the MONEY MARKETS to scare them, have they not noticed the WAR in the Ukraine, we could be heading into WW3, and Conservative MPs play childish games!

Will the Defence Secretary RESIGN if there are CUTS in Defence Spending ? - Ukraine - Russian War - Liz Truss Era

Sky News - Live Blog: Reports in its 4.16pm post the following, " 

Defence Secretary Ben Wallace could resign if Jeremy Hunt scraps defence spending boost...

The UK's new chancellor has raised the possibility of ditching a key pledge by Liz Truss to boost defence spending - a move that would likely be a resigning matter for her defence secretary, Ben Wallace.  "

Lets Get Real:

The NEW Treasury Team have to understand that the MONEY MARKETS are important, but also preventing WORLD WAR 3, Liz Truss has promised increasing defence spending up to 3% by 2030.  The Russians are looking, the UK cannot look even more WEAK, the UK Government looks like a banana Republic, four PMs in a few years, and four Chancellors in 1 YEAR.  Whatever has to be cut, it cannot be DEFENCE spending, the Defence Secretary should hold the line, let's recall that Ben Wallace was a leading candidate to succeed PM Johnson, he must wish he had run now.   The Conservative right has to come out in support of defence spending, it's  too important to cut, a weak Government will give the wrong impression to the Kremlin, it could lead to a nuclear attack in the Ukraine and then World War 3.

The Agenda of the New Chancellor - Jeremy Hunt - Liz Truss Era/After Boris

BBC News: Reports " Chancellor warns of tax rises and squeeze on spending....Speaking to the Today programme, Jeremy Hunt said some taxes will go up, while government spending may need to fall.  "

Lets Get Real:

The UK has had four Chancellors in 1 year, the Mini Budget has been ripped up and Conservative Budget will be replaced by a orthodox Treasury Budget.  One hopes that the Gas cap will be kept for two years, and the basic rate of income tax will be kept at 19p in the pound and not the 20p before the Budget.  This Blog would not be shocked if WELFARE was CUT, the Johnson Administration promised that welfare would keep up with inflation, that might not happen, as we have inflation heading for 11%.  The NHS and Defence could take hits, this would backtrack on the PM's promise to increase defence spending by 3%.  Also other Departments can expect their budgets either to be CUT or no increase in their Budget for this year.  One can say that the Labour Party will keep calling for a General Election, in less some Conservative MPs have gone mad they will not vote for that, given the past few days, some might have lost the plot.  As to the future of the PM, one can say that in less she gets her ACT together, she will not be PM in a few months time, since her succession she has been a disaster in the job, even the King was depressed to she her. 

Publish

Will the Mini Budget be Scrapped ? - Liz Truss Era/After Boris

Sky News - Live Blog: Reports the following in its 3.08pm post, " Cabinet minister refuses to answer questions on budget U-turns....Chloe Smith, the work and pensions secretary, has declined to answer questions on possible further U-turns on the government's mini-budget.  "

Lets Get Real:

The dream might have died, a real Conservative Budget could be binned, the City, has decided that the sums do not add up, thus the price of Government bonds are going up, why we trust the City after the near economic collapse during PM Gordon Brown's time in office, is any ones guess.  The World is suffering from post COVID - 19 lockdown, but more important is the WAR in the Ukraine, the Western sanctions on Russia and on its GAS means that the price of OIL and GAS is going up, inflation in the US is now at 8.2, that means interest rates will have to go up, they were far to low for YEARS, people have gotten used to an easy life, and low mortgagee, that time has come to an end, people must be more careful with their money, the Government should CUT WELFARE, try saying that NOW, the UK's furlough has cost hundred of billions, and the cap on energy prices for two years just adds to the national debt.  The West must act in unison, even the EU, otherwise the people of the West will suffer.