Stirling Households and Businesses Damaged by Tory Economic Meltdown


Categories: Economics, Governance, UK Government (Westminster)

Fourth Tory Chancellor in 2022 Hints at Austerity 2.0

Local Stirling Politicians Alyn Smith MP and Evelyn Tweed MSP have condemned the UK Government for continuing economic instability, as the fourth UK Chancellor takes his post to hint at fresh austerity measures.

Jeremy Hunt MP has been appointed as the new UK Chancellor, scrapping much of the ‘mini-budget’ announced by his predecessor only in September. Having sent interest rates and mortgages soaring, the economic illiteracy of the Tories have only added to the cost of living crisis facing households and businesses across Stirling and Scotland.

Speaking to his new financial plans on Monday, the UK Chancellor announced the end of universal energy support in April next year, trashed tax and fiscal measures of the previous ‘mini-budget’ and strongly suggested fresh austerity measures would be deployed to ‘balance the books’.

Alyn Smith MP said:

‘The farce continues, as the UK Government appoints its 4th Chancellor this year. Jeremy Hunt may be badged as the adult in the room, but he has played an integral part of previous Conservative administrations and the policy calamities which are playing out before us today. 

‘Public services cannot survive a second bout of disastrous Tory austerity, which has proven so corrosive to Scotland’s economy and communities. Only with independence in Europe can we escape this failing economic model, regain stability for families and business across Stirling and Scotland – and build the better country we know we can be.’

Evelyn Tweed MSP said:

‘The threat of further Tory austerity is catastrophic – their new Chancellor is doomed to repeat the weak growth and growing inequality we’ve seen from 12 years of Tory rule. 

‘Businesses and households have lost certainty over their energy bills as universal support ends next April, deterring investment and causing real fear amongst the communities I serve. Meanwhile inflation and the cost of living crisis continues. It’s clear the Tories have run out of steam, and only independence will offer Scotland a genuinely different path forward.’