Another U-turn as Government tries to ride political storm

THE Tories, since coming to power in 2019, have been consistent with one policy: making U-turns on a regular basis.

Rishi Sunak continued this last week by ruling out once again, fracking, much to the delight of the Green Party.

Obtaining energy by this method has always been highly controversial, and until such time as a lot more is known about methods of extraction it is probably right to shelve the matter.

However, with the Fiscal Review postponed until November 17 and upgraded to an Autumn Statement, complete with OBR report, many groups of people will become more anxious as to the extent of what Government has in mind.

Pensioners for instance, were promised by Ms Truss that their triple lock would be honoured.

Mr Sunak has been preaching the gospel of honouring the Conservative manifesto promises, yet as Chancellor, he ditched that commitment for this year, pensioners losing some £430 each as a result.

Then again, there will be some concern by all companies involved with HS2, for they would be badly affected if this project, already way over budget, was moth-balled or even cancelled altogether.

I have always been opposed to such vast amounts of money being spent on a project that will never pay its way and was always doomed to be a massive white-elephant.

If only David Cameron had chosen as his legacy, the Severn barrage, which would have produced predictable amounts of badly needed electricity for hundreds of years to come.

There are going to be some painful shocks for many in this coming Statement, with no doubt a few more U-turns, but Government, to maintain credibility, will have to ride out the inevitable political storms.

Rishi Sunak and his Cabinet have barely a 100 weeks before they have to face the electorate, a very short period of time to try to persuade an increasing number of sceptics that they are capable of properly managing the financial affairs of the UK.

If they fail, and a Labour Government takes over, then Boris will be waiting in the wings.

So far, they have badly managed matters, although I accept that Covid and Ukraine could not have been predicted.

I hope, therefore, that the delay in announcing Mr Hunt’s tax and spend plans will be well used by him to ensure that his proposals will actually work.

We are all anxiously waiting.