Chaos continues: Number 10 says fracking motion WAS vote of confidence and rebels face ‘disciplinary action’ October 20, 2022 Liz Truss sent a late-night memo to Tory MPs telling them Wednesday evening’s motion on fracking was confidence vote after all – and rebels “ can expect proportionate disciplinary action.” Number 10 sent the note just after 1.30am after confusion and anger dominated the vote in Commons last night, amid accusations of physical assaults and [...]
Is Truss helping or hindering her own pro-growth policies? October 20, 2022 One of the greater mysteries of the universe is why David Cameron is yet to delete a tweet from the run-up to the 2015 election: “Britain faces a simple and inescapable choice – stability and strong Government with me, or chaos with Ed Miliband.” The voters chose the former, but it is fair to say [...]
Truss government in complete chaos as she vows to fight on October 19, 2022 After vowing she was a “fighter” today, Liz Truss’ premiership looked more unstable than ever following the resignation of a senior cabinet minister and chaotic scenes in parliament earlier tonight. Home secretary Suella Braverman was sacked earlier in the day for a security breach, sparking an attack from the right-winger on the embattled PM. Braverman, [...]
Truss and Kwarteng did not brief BoE on mini-budget, dep governor Cunliffe says October 19, 2022 Liz Truss or former chancellor Kwasi Kwarteng did not tell the Bank of England of their plans to slash taxes £45bn in last month’s botched mini-budget, one of the central bank’s executives said today. Sir Jon Cunliffe, the Bank’s deputy governor of financial stability, told the treasury select committee today the government did not brief [...]
Suella Braverman sacked as home secretary over security breach October 19, 2022 Suella Braverman has become the second senior cabinet minister to be sacked from Liz Truss’ government in less than a week, with Grant Shapps appointed as her replacement. Braverman was asked to resign as home secretary this afternoon, first reported by The Guardian, after she sent an official Home Office document to a backbench MP [...]
Truss says she’s ‘committed’ to state pension triple lock October 19, 2022 Liz Truss has said she is “committed” to increasing the state pension by the rate of inflation, after Number 10 just yesterday refused to back the triple lock. Truss said during Prime Minister’s Questions (PMQs) that “I am completely committed to the triple lock and so is the chancellor”. Truss’ spokesperson and Jeremy Hunt both refused [...]
Analysis: Keeping Triple Lock still requires £550k pension for ‘comfortable’ retirement October 19, 2022 Even if the State Pension was uprated in line with September’s inflation figure of 10.1 per cent, pension savers would still need to build up a pot of around £550,000 to ensure a comfortable standard of living in retirement, according to new figures shared with City A.M. this morning. The data comes amid the increased uncertainty over whether the [...]
Bank of England to launch record rate rise to step up fight against 40-year high inflation October 19, 2022 The Bank of England will have to hike interest rates by a record whole percentage point at its meeting on 3 November, City economists are betting today after inflation returned to a 40 year high of 10.1 per cent last month. Prices are still rising sharply despite the Bank already lifting borrowing costs seven times [...]
Exclusive: MPs will get vote on how local consent is given to fracking projects October 19, 2022 MPs will be given a say on how local communities can approve or block new fracking sites, business secretary Jacob Rees-Mogg has told Tory MPs today. Rees-Mogg said in a letter to all Conservative MPs, seen by City A.M., that a consultation on how to establish local consent for new fracking projects will begin next [...]
Tory whips say Labour fracking motion is vote of confidence in Truss government October 19, 2022 Conservative whips have told their own MPs that a Labour vote opposing fracking is an effective confidence motion in the Liz Truss government and that they must follow the party line. Truss’ chief whip Wendy Morton told Tory backbenchers, in an email leaked to Huffpost, that “this is not a motion on fracking … this [...]