Kwarteng’s reckless gamble in his ‘mini-budget’
So much has happened since my last column. The death of our beloved Sovereign, a new Prime Minister, and now a sinking economy and decimated currency.
The loss of our great monarch deeply affected many of us. The Queen was a remarkable woman, diligently serving us for 70 years. She remained an ever-constant figure we could look to with pride and respect.
We will move forward together with the continued memory of her life-long commitment to service.
His Majesty King Charles III has pledged to continue in the same vein. Hundreds attended the local proclamation in Bath to pay tribute to the late Queen and welcome King Charles.
I was fortunate to attend the addresses in Westminster Hall. It was an honour to be a small part of history. Long live the King.
In Parliament we finally heard Liz Truss’s energy plan which did not go far enough. The plan will almost double your heating bill compared to last winter. This is a ‘phoney freeze.’
The shocking ‘mini-budget’ unveiled by the Chancellor was proof that the Conservatives only have the interests of the wealthiest at heart.
Kwasi Kwarteng is taking a reckless gamble with our economy. The pound is plummeting to a record low against the dollar, risking rising food and petrol prices and spiking mortgage interest rates.
The Liberal Democrats are demanding Parliament be recalled so that urgent action can be taken to address the unfolding disaster.
The rising cost of borrowing will pile even more pressure on small businesses.
The Government has tanked the economy at the same time that businesses face soaring energy prices.
The energy cap on businesses will be lifted after six months; there is no plan yet for what will follow. Business needs certainty and the Conservatives refuse to deliver it.
In Parliament I spoke out on behalf of Bath Aqua Glass, one of our small, independent businesses facing great uncertainty.
I urged the Government not to go forward with their plans to lift the ban on fracking.
Removing restrictions would involve drilling thousands of wells across our countryside, risking earthquakes and water pollution.
Worse still, fracking will make no difference to soaring energy prices. We need to accelerate our transition towards renewable energy technologies.
Instead, the Government focuses on extracting tiny amounts of declining fuel ever more dangerously.
I had a lively discussion with students at Hayesfield School, met with the Bath Spa University Student Union team, took part in the B&NES Climate & Biodiversity Festival and attended the opening of the restored Cleveland Pools.