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Reading: According to a Labour minister, the economy might have collapsed if winter fuel subsidies for elderly hadn’t been reduced.
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Baner Club > Blog > Ecnomics > According to a Labour minister, the economy might have collapsed if winter fuel subsidies for elderly hadn’t been reduced.
EcnomicsPolitics

According to a Labour minister, the economy might have collapsed if winter fuel subsidies for elderly hadn’t been reduced.

According to a minister, if the government hadn't discovered savings by reducing retirees' winter fuel payments, the economy might have crumbled.

Last updated: 2024/09/02 at 8:31 AM
Published September 2, 2024
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Lucy Powell said to Trevor Phillips on Sunday Morning that the Conservatives’ “£22 billion blackhole” was the reason behind the benefit’s termination, which will now be means tested.
Labour said they have to make tough decisions because this deficit is larger than they had anticipated.

Ms. Powell responded, “Finding savings in the current year that you are in is very difficult indeed,” when asked why seniors had been singled out for the cuts while public sector employees were set to receive salary increases above inflation.

And the reason we had to take that action was because, had we not, we would have witnessed a decline in market confidence, possibly a run on the pound, and an economic collapse. Trevor, it is not you and I who bear the brunt of such events; rather, it is the most vulnerable members of society who suffer the most.

“Ministers chose not to budget for the public sector pay awards, even though they were on their desks prior to the election,” the speaker continued.

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admin September 2, 2024 September 2, 2024
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