All posts tagged: Chancellor

‘We need to get a grip’ on welfare, chancellor says – as controversial cuts widely expected | Politics News

‘We need to get a grip’ on welfare, chancellor says – as controversial cuts widely expected | Politics News

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The chancellor has insisted that “we do need to get a grip” on the welfare budget, saying the “current system is not working for anyone”. Rachel Reeves said the “bill for welfare is going up by billions of pounds in the next few years”, and argued the system should “get people into work so that more people can fulfil their potential”. Her comments come ahead of an expected announcement next week of “radical” reforms to the welfare system, with many fearing drastic cuts to support for the most vulnerable. Politics latest: UK needs to go ‘further and faster’ to grow the economy Asked by broadcasters on Friday about those fears, the chancellor said: “Well, we’ll set out our plans for welfare reform. But it is absolutely clear that the current system is not working for anyone. “It is not working for people who need support, it’s not working to get people into work so that more people can fulfil their potential, and it’s not working for the taxpayer when the bill for welfare is going …

German Chancellor Olaf Scholz loses confidence vote

German Chancellor Olaf Scholz loses confidence vote

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German Chancellor Olaf Scholz will undergo a vote of confidence in Parliament on Monday, December 16. Michael Kappeler | Picture Alliance | Getty Images German Chancellor Olaf Scholz on Monday lost a confidence vote in the country’s Bundestag, clearing the path for an early election in February. Scholz was expected — and hoping — to lose the vote, which he had called for himself in November in order to trigger earlier-than-planned elections, which were originally scheduled for the fall of 2025. It marks only the sixth time in Germany’s history that such a vote has taken place, and the fourth time a president has fallen foul of the vote. Scholz said Monday that he had called the vote not only for parliament but the whole of the electorate. “Do we dare be a strong country, to invest powerfully in our future,” Scholz told lawmakers prior to the vote, according to a Google translation. Scholz sacked former Finance Minister Christian Lindner in November, effectively bringing an end to Germany’s ruling coalition which had been in power …

Chancellor Rachel Reeves to pledge £1.4bn for crumbling schools and childcare in the budget | Politics News

Chancellor Rachel Reeves to pledge £1.4bn for crumbling schools and childcare in the budget | Politics News

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Rachel Reeves has promised £1.4bn to rebuild crumbling schools and triple funding for free breakfast clubs, as she gears up for her first budget. The chancellor said children “should not suffer” due to the UK’s depleted public purse, despite the Labour government needing to plug what it calls a £22bn “black hole”. However, economists said the funding would generally ensure existing plans keep going, rather than pay for many new initiatives, and teachers said much more cash was needed. The Treasury said the £1.4bn would “ensure the delivery” of the school rebuilding programme, which was announced in 2020 under then prime minister Boris Johnson. It aims to rebuild or refurbish about 500 schools in a decade, but progress has been slow. The £1.4bn is understood to be a £550m increase on last year to support the programme. Last year more than 100 schools, nurseries and colleges in England were forced to shut down days before the autumn term due to safety concerns over reinforced autoclaved concrete (Raac). Please use Chrome browser for a more accessible …

Nadhim Zahawi: Former chancellor and vaccines minister will stand down at general election | Politics News

Nadhim Zahawi: Former chancellor and vaccines minister will stand down at general election | Politics News

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Former COVID vaccines minister and chancellor Nadhim Zahawi has announced he will not be standing at the next general election. The Conservative MP for Stratford-on-Avon since 2010 quoted his “most famous constituent” as he wrote: “Go to your bosom; knock there and ask your heart what it doth know.” He said: “The time is right for a new, energetic Conservative to fight for the honour of representing Stratford-on-Avon.” “Parting is such sweet sorrow,” he added, referencing Shakespeare’s Romeo And Juliet. Follow politics latest Mr Zahawi is the 65th Conservative MP to announce he will not be standing at the next general election, which is expected this year. He was responsible for the COVID vaccine roll-out and was chancellor for two months over the summer of 2022. He was also education secretary for 10 months before that. The MP stood to succeed Boris Johnson as Conservative leader but was eliminated from the ballot after the first round of voting and then supported Liz Truss, who made him Chancellor of the Duchy of Lancaster, intergovernmental relations minister …

Chancellor Jeremy Hunt insists UK’s economy has ‘turned corner’ – telling public to ‘stick to plan’ for ‘better times’ | Business News

Chancellor Jeremy Hunt insists UK’s economy has ‘turned corner’ – telling public to ‘stick to plan’ for ‘better times’ | Business News

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Chancellor Jeremy Hunt has said that “better times are ahead” but that the fundamentals of the UK economy are “very strong”. Speaking to Sky News in Washington, Mr Hunt pointed to price rise data from today showing a drop in the rate of inflation as well as the latest jobs figures and IMF economic growth predictions. Money latest:Tourist tax warning in 10 European cities Mr Hunt said: “I think the economy, we are seeing, has turned the corner, people are beginning to feel that.” “That will continue during the course of this year. But the fundamentals for the UK economy, yes, are very strong indeed,” he added. The cost of living crisis, brought about by months of double-digit inflation last year, has been tough, Mr Hunt said. But sticking to his economic plan, along with the Bank of England’s work to control interest rates, will bring about “better times”, he insisted – in a sign of the likely economic messaging from the Tories ahead of the coming general election. Image: Jeremy Hunt urged the public …

German chancellor urges China to use ‘influence’ to end Ukraine war

German chancellor urges China to use ‘influence’ to end Ukraine war

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German Chancellor Olaf Scholz has urged China’s leader Xi Jinping to use his country’s influence to press Russia to end its war in Ukraine. Following meetings with Xi on Tuesday in Beijing, Scholz said on the social media platform X that “China’s word carries weight in Russia,” and that “I have therefore asked President Xi to influence Russia so that Putin finally … ends this terrible war.” He added that Xi agreed to support a peace conference in Switzerland. The statements come at the tail end of Scholz’s three-day visit to China, in which he discussed a wide range of issues with Xi and other leaders. Scholz on Tuesday warned against threatening nuclear weapons during the war, after Russian President Vladimir Putin last month said he is ready to use them if the country’s sovereignty or independence is threatened. He also told Xi that Moscow’s invasion threatens global security and that the two countries could work together to achieve a “just peace for Ukraine.” Commenting on the crisis, Xi said, “China encourages and supports all …

Laura Kuenssberg Skewers Chancellor Over Economy Claims

Laura Kuenssberg Skewers Chancellor Over Economy Claims

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The BBC’s Laura Kuenssberg told Jeremy Hunt “it sounds like you’re in a parallel universe” after his recent claims about the cost of living crisis and the economy. The chancellor made headlines after he posted on X on Friday that £100,000 is not “a huge salary” after mortgage costs and childcare. His colleague, minister Andrea Leadsom, also caused a stir this week after she claimed the cost of living crisis had ended now inflation is down. The presenter of Sunday with Laura Kuenssberg then pointed out that private rents are up 9% since 2023, council tax for band D up 5.1% since 2023 and petrol prices up 2.3p since January 2024. After reminding Hunt of these incidents, she asked: “Isn’t there a danger that actually you sound like you’re in a parallel universe?” Hunt said he was talking to one of his own constituents about paying for childcare in an area where the house prices are averaging around £670,000. But, the BBC journalist noted: “In your own area, in Surrey, the average full time wage …

£100,000 a year ‘not a huge salary’, Chancellor Jeremy Hunt claims | Politics News

£100,000 a year ‘not a huge salary’, Chancellor Jeremy Hunt claims | Politics News

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The chancellor has claimed that earning £100,000 a year is “not a huge salary”. Jeremy Hunt made the remark on social media platform X, in a post which was aimed at his constituents in Surrey. He will be campaigning hard as he is changing seats for the next general election after the boundaries were redrawn as part of a regular review. Politics latest: Sunak hits out at Starmer In the post on his profile, Mr Hunt said: “I spoke to a lady from Godalming about eligibility for the government’s childcare offer which is not available if one parent is earning over £100k. “That is an issue I would really like to sort out after the next election as I am aware that it is not [a] huge salary in our area if you have a mortgage to pay.” Mr Hunt increased the threshold for childcare benefits in his most recent budget. According to the Office for National Statistics, the average salary for someone in full-time work was £34,963 in April 2023. Mr Hunt is standing …

How much is the price of cigarettes going up after the budget? What Chancellor Jeremy Hunt said about tobacco

How much is the price of cigarettes going up after the budget? What Chancellor Jeremy Hunt said about tobacco

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The price of a pack of cigarettes is set to rise after an announcement in the Budget which will also affect how pricey it is to vape. Chancellor Jeremy Hunt made a tax cut his key policy in Wednesday’s speech before a likely autumn general election — but announced this notable rise. Mr Hunt confirmed that a new duty on vaping products would be introduced from October 1, 2026 “to discourage non-smokers from taking up vaping”. There will also be a “one-off” increase in tobacco duty at the same time — meaning smokers have two and a half years before this kicks in. “Because vapes can also play a positive role in helping people quit smoking, we will introduce a one-off increase in tobacco duty at the same time to maintain the financial incentive to choose vaping over smoking,” Mr Hunt said. Here’s all you need to know about the forthcoming rise in tobacco prices. How much are cigarettes going up in price after the Budget? The one-off increase will be £2 per 100 cigarettes …