Busted Budget 2: Return of the Omnishambles

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PMQs - Corbyn vs May highlights

"A budget that unravels in 7 days. A conservative manifesto with a very pensive PM saying there would be no increase. Last week, an increase was announced. We've just heard the PM is about to drop the National Insurance hike announced only a week ago. We seem to have a government in a bit of chaos here. I think the PM should offer an apology for the chaos caused. We want a stairway for all - she wants a ladder for the few. Coming from a government that proposes to borrow more between now & 2020 than the entire borrowing of every post war Labour Government combined, we don't need lectures from them." The Tories have U turned on their latest omnishambles budget in just under a week. This is not a government, it's a Tory survival spasm, lumbering and lashing out in increasing desperation, fiddling elections and stifling debate. #PMQs #PrimeMinistersQuestions #TheresaMay #JeremyCorbyn #JC4PM #Labour #Conservatives #Budget2017 #UKParliament #PhilipHammond |Share|Support|Sponsor #NyeBevanNews|Contribute and help us grow paypal.me/NyeNews|

Posted by Nye Bevan News on Wednesday, March 15, 2017

Tory Prime Minister Theresa May & Tory Chancellor Philip Hammond have had to announce a “screeching U-turn” after proposals to raise National Insurance tax in contradiction to Tory promises predictably precipitated apoplexy across the political spectrum.

Facing calls from her own MPs to “apologise for betraying the 2015 manifesto”, Theresa May also faced outrage from small & medium sized businesses from across the country. The knock on effect of this would be to make the working families of Britain poorer – a fact that did not go unnoticed at the Institute of Fiscal Studies, as Andrew Hood, IFS Senior Research Economist has said:

“Weak earnings growth combined with planned benefit cuts means that the absolute poverty rate among children is projected to be roughly the same in 2021–22 as it was back in 2007–08. In the decade before that, it fell by a third. Tax and benefit changes planned for this parliament explain all of the projected increase in absolute child poverty between 2014–15 and 2021–22.”

In a move that directly targeted the ‘Just About Managing’ families that Theresa May’s woefully delivered rhetoric contrived to appeal to, the IFS reports that this latest Omnishambles budget from the increasingly unstable Tories would leave the average British family a whopping £1400 a year worse off.

“If the OBR’s forecast for earnings growth is correct, average incomes will not increase at all over the next two years. Even if earnings do much better than expected over the next few years, the long shadow cast by the financial crisis will not have receded. Average incomes in 2021–22 are still projected to be £5,000 a year lower than we might have reasonably expected back in 2007–08.“ – Tom Waters, Research Economist at IFS

In 2010 & 2015 the Conservatives stood on a platform of ‘putting the public finances in order’. After cutting services across the board, it’s important to ask : How are they doing?

Public debt went up from 69% of GDP in 2010 to 92% in 2016.
That’s not ‘balancing the books’ – just ask Tory Pollster, Lord Ashcroft.

“One of the biggest drivers of the rise in child poverty is policy choices.” – Campbell Robb, chief executive of the Joseph Rowntree Foundation

#UniteAgainstTheRight#HandsOffOurNHS#SolidarityAlways#KeepCorbyn#StillCorbyn#JC4PM
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