Healey should adopt cuts at Budget to ‘live within our means’, Badenoch to say
She will say the Conservatives have identified more than £70 billion in spending cuts, mainly to welfare, civil service numbers and foreign aid.
- On Tuesday, Conservative leader Kemi Badenoch warned that Chancellor John Healey's maiden Budget risks damaging the economy more than his predecessor's, urging the government to slash spending and "live within our means."
- Britain's gilt yields have risen to 6%, their highest level since 1998, as Badenoch argues the UK pays more to borrow than other G7 economies, including nearly 2% more than Germany.
- The Conservative leader branded Labour's spending plans "fictional" and signaled her party's readiness to implement over £70 billion in cuts, primarily targeting welfare spending, civil service reductions, and foreign aid.
- Chancellor John Healey prepares for his October 28 Budget, which he has described as "tough," while the Liberal Democrats on Monday proposed a £14 billion "breathing space" budget to ease living costs.
- Bank of England Governor Andrew Bailey has emphasized the need for a "credible" budget to reassure markets, though Badenoch remains skeptical of fiscal projections that the International Monetary Fund has previously praised.
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14 Articles
Don’t be Liz Truss, Badenoch tells Burnham
LONDON — Kemi Badenoch warned Labour Prime Minister Andy Burnham on Tuesday not to repeat the economic mistakes of her former boss Liz Truss in his first budget next Wednesday. The Tory leader said higher national debt, increased gilt yields and extra government spending are creating a gloomy economic picture — and demanded sharp spending cuts from the ruling Labour government next week. “The lessons of the mini-budget are: if you don’t balance …
Badenoch urges Healey to avoid ‘fictional cuts’
Tory leader Kemi Badenoch has urged Chancellor John Healey to focus on urgently cutting spending and avoid making “fictional cuts” at the end of parliament. In a speech in London on Tuesday, Badenoch will warn that Labour’s deficit reduction plans rely on “huge cuts to the public sector in the final year of the spending [...]
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