Jeremy Hunt shreds Truss's economic plans in astounding U-turn on tax

[brooklynite]

Source: The Guardian

Jeremy Hunt has shredded Liz Truss’s economic plans in one of the most astonishing U-turns in modern political history, including slashing the energy price freeze which the prime minister had repeatedly championed.

The new chancellor dismantled almost all of the platform that Truss’s leadership victory had been built on, including the majority of her tax cuts, and hinted a new windfall tax was in his sights – a move the PM had previously said she would not countenance.

Hunt also refused to rule out cuts to totemic Conservative pledges, including defence spending and the pensions triple lock.

Truss declined to appear at the dispatch box in parliament on Monday despite calls from Labour, leading one cabinet minister to clarify she was not “hiding under a desk”. In an interview with the BBC on Monday night, she said she wanted to “accept responsibility and say sorry for the mistakes that have been made”.

Read more: https://www.theguardian.com/politics/2022/oct/17/new-chancellor-shreds-pms-economic-plans-in-unprecedented-u-turn

[Historic NY]

1. I see she didn't show up for questions either...

[not fooled]

2. Ruh roh

Hunt also refused to rule out cuts to totemic Conservative pledges, including...the pensions triple lock.

[link:https://www.unbiased.co.uk/life/pensions-retirement/what-is-the-triple-lock-pension-and-how-does-it-affect-me|]

The triple-locked state pension

A triple lock was introduced to the UK state pension in 2010. It was a guarantee that the state pension would not lose value in real terms, and that it would increase at least in line with inflation. To make the guarantee even more secure, it included three separate measures of inflation (hence ‘triple lock’).

[Lonestarblue]

3. Truss should just resign and call for a new election. She's been incompetent so far.