Yesterday the Prime Minister struck a more conciliatory tone with her backbenchers, following a week which saw threats of deselection for those that didn’t back her economic vision.
Moving the effective second mini budget from 23 November was strongly welcomed by Mr Stride, saying the documents may result in a smaller rise in interest rates which is “critical to millions” of mortgage holders., and has now become one of her strongest critics from the backbenches, said that it was a “belated but sensible move”.
Mr Kwarteng was widely criticised for removing Mr Scholar from the role as permanent secretary, given he was one of the only senior civil servants with experience dealing with the financial crash, which could be useful in a time of economic turmoil. The Chancellor yesterday also met with Chloe Smith, the DWP Secretary, who is responsible for announcing the Government’s decision on the uprating of benefits.Tory backbenchers, and some cabinet ministers, have made it clear that they feel the Government would be wrong to only increase benefits in line with earnings, rather than inflation, as this would be a real-terms loss of income for families during the cost of living crisis.
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