Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

Truss losing to Starmer in tax-cutting policy catastrophe

  • By Al Mayadeen English
  • Source: The Observer
  • 21 Aug 2022 09:46
5 Min Read

Unless Truss changes her economic policies, the UK will suffer devastating consequences, which is pushing many to turn towards the Labour party.

  • x
  • Truss losing to Starmer in tax-cutting policy catastrophe
    Liz Truss. (Bloomberg)

Tories in senior positions within the party are warning that the Conservative Party will suffer severely if a Liz Truss premiership fails to address the current cost of living in the UK, at a time Labour is enjoying a rebound with Keir Starmer gaining popularity for the coming elections. 

A number of Cabinet Ministers on Saturday told the Observer that the party will suffer devastating losses unless Truss changes her economic policies as panic mounts in London. 

Conservative MP Michael Gove announced his support for Rishi Sunak after calling Truss' plan to cut taxes a "holiday from reality." 

Read next: Sunak, Truss try appealing to Zionist voters, make no promises

On the other side, Labour and its leader have been enjoying higher numbers as of an Opinium poll in the Observer - its biggest lead in months -, particularly after Starmer supported a complete freeze on energy bills this autumn. 

Two weeks back, 29% of all voters said Truss would be the best prime minister, while 28% chose Starmer. However, this weekend, Truss' popularity dropped to 23% while Starmer rose to 31% in score. 

However, when it came to Starmer versus Sunak, Starmer scored 20% while Sunak scored 23%.

On Saturday, a YouGov poll - a poll which usually gives Labour more leverage than Opinium - conveyed the Labour party as enjoying its biggest lead in 10 years, reaching 43% in votes, whereas the Conservative party got 28%.

Truss has suggested that she will use tax cuts to boost the economy despite that economists and her Conservative colleagues are warning that this will only stoke and embed inflation in the country. 

Related News

60 Labour MPs Urge UK to Recognize Palestinian State

UK's Jeremy Corbyn hints at leftist rival to Labour Party

Tory chancellor Kenneth Clarke criticized Truss for the suggestion, arguing: "This is not a time for tax cuts because we have enormous public debts. Tax cuts will stimulate growth in demand, but the problems are with the difficulties in supply, so they will push inflation further up.”

Gove, furthermore, is arguing that Truss' tax-cut suggestion will benefit those least in need, and put the poorest at a severe disadvantage: “The answer to the cost of living crisis cannot be simply to reject further ‘handouts’ and cut tax. Proposed cuts to national insurance would favour the wealthy, and changes to corporation tax apply to big businesses, not small entrepreneurs.

“I cannot see how safeguarding the stock options of FTSE 100 executives should ever take precedence over supporting the poorest in our society, but at a time of want it cannot be the right priority.”

Another former minister, who is in support of Sunak, said, “If Liz does not change tack and back a real economic package that does more to help those in need, I think we will be in big trouble. But to do so she will need to go back on what she has said in the leadership campaign, which will not be without consequences either.”

Clarke also addresses the coming recession that will only be exacerbated by Truss' tax policies, arguing that the UK, under Truss, will only fall into a further case of a desperate economic situation.

“I’ve felt for some time that we’re bound to have a very severe recession. And if we’re not careful, it’s going to be combined with very bad inflation, which does social, as well as economic, damage. Living standards generally are going to fall for the first time for a long time, and the main short-term measures should be to stop us seeing any increase in the number of people becoming destitute in this country. The government shouldn’t be asking themselves, what is the Daily Mail going to be saying tomorrow, but what is the economy going to look like in a couple of years’ time when we have an election?”

Global inflation is soaring, with the UK's accelerating at the fastest pace in 40 years in July, reaching double-digits and adding more pressure on the Bank of England.

Last month, the consumer price index boosted up 10.1% on an annual basis, surpassing the FXStreet-cited market consensus of 9.8% and speeding up from 9.4% in June.

The last time inflation was this extreme was in 1982 - 40 years ago.

Two weeks ago, the Bank of England (BoE) predicts by the end of 2022 to enter a long recession for at least a year's time. Currently, Britons are faced with staggeringly high costs of living as they overcome the worst inflation they have witnessed in decades. 

  • Labour Party
  • Conservative Party
  • Keir Starmer
  • Rishi Sunak
  • Liz Truss
  • United Kingdom

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS