Disaster, car crash, calamity. Call it what you will, the last few weeks has seen the Tory UK Government send our economy into complete and utter chaos.
Only weeks into her tenure, our new Prime Minister Liz Truss in now in office but, most certainly not in power.
Held hostage due to her own arrogant mistakes, it seems inevitable that the Tories will gang up to replace her with their fifth party leader in six years. Following the sacking of Kwasi Kwarteng on Friday, Jeremy Hunt is now incredibly the fourth Tory Chancellor this year. The disarray and confusion of this government knows no bounds.
Make no mistake, this is a Tory crisis, made in Downing Street, paid for by working people. They’ve crashed the economy through enormous unfunded tax cuts, leaving people worried as they face up to higher mortgages and soaring costs. The Government must re-think this Budget in full and abandon their discredited, dangerous trickle down approach.
While the Tories try to shift blame, it is clear the market uncertainty the mini Budget unleashed will see working people pay higher prices and higher mortgage rates for years to come. British households refinancing a 2-year fixed mortgage will be paying £580 more per month on average. That will leave many families here in Llanelli in the next few years with a massive hole in their finances.
The new Prime Minister and her Government have embarked on a radical change of direction that, in many cases, directly contradicts pledges made in their own manifesto put forward at the last General Election. They have no democratic mandate to do so and cannot be allowed to play hard and fast with people’s futures.
We need a General Election and a change of government before the Tories do any further damage.