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Tories ‘planning benefits cut to pay for its tax giveaway’

Tories to 'cut benefits to pay for tax cuts for richest'
Liz Truss and Kwasi Kwarteng are digging in over their tax plan – but now they’ve got to figure out how to pay for it (Picture: Rex/Shutterstock/Reuters)

The government could be set to cut benefits for the poorest in society to pay for tax cuts benefiting its richest.

Senior ministers have declined to rule out scrapping a planned welfare uplift to ensure the system keeps pace with soaring inflation, a move which would amount of a real-terms cut. 

In May, then-chancellor Rishi Sunak committed to increasing benefits in line with CPI, which would ensure people who survive on government assistance will not be left behind by 10% inflation during the cost of living crisis.

But with the government scrambling to find £45bn for its tax proposals amid market chaos, that promise could now be scrapped.

Liz Truss is looking to reign in spending and is under pressure to credibly explain how she’ll pay for a tax giveaway which disproportionately helps wealthier households. 

Despite the pound plunging to record lows and a crisis in the government bonds market, the prime minister has doggedly stuck by her plans.

Ministers were told yesterday they will need to find ‘efficiency savings’ in departmental budgets and beleaguered chancellor Kwasi Kwarteng made it clear benefits could be hit.

Chancellor Kwasi Kwarteng arrives at Darlington station for a visit to see local business. Picture date: Thursday September 29, 2022. PA Photo. See PA story POLITICS Budget. Photo credit should read: Owen Humphreys/PA Wire
The chancellor refused to commit to the government’s previous pledges on raising benefits during a visit to Darlington on Thursday (Picture: PA)

Asked if benefits would be uprated in line with inflation, Mr Kwarteng said: ‘It’s premature for me to come to a decision on that, but we are absolutely focused on making sure that the most vulnerable in our society are protected through what could be a challenge.’

Chris Philp, the chancellor’s deputy in the Treasury, also refused to commit to the government’s previous pledge during an appearance on ITV.

He said: ‘I am not going to make policy commitments on live TV, it is going to be considered in the normal way, we will make a decision and it will be announced I am sure in the first instance to the House of Commons.’

A Department for Work and Pensions spokesperson said the process of reviewing benefits will start in the autumn ‘using the most recent prices and earnings indices available’.

An announcement on changes is usually made in November, coming into effect the following April, and it impacts Personal Independence Payment, Attendance Allowance, Disability Living Allowance, Carer’s Allowance, Incapacity Benefit and others.

James Taylor, director of strategy at disability equality charity Scope, said: ‘If the government u-turns on this promise, it would be devastating and lead to disabled people starving and freezing in their own homes.’

Child Poverty Action Group chief executive Alison Garnham said: ‘Children are already going hungry as costs soar – unless benefits are uprated to match inflation, they will also become the casualties of a collapsing economy.

‘Struggling families will not forgive a chancellor who comes to them for efficiency savings when their cupboards are already bare.

Mandatory Credit: Photo by James Veysey/Shutterstock (13420670m) The Bank of England, expected to make an intervention on the slump of the pound. 26 Sep 2022 British Pound hits record low after tax cut plans, London, UK - 26 Sep 2022
The Bank of England was forced to step in and stop a full market meltdown this week (Picture: Shutterstock)

‘Families have lost enough; they need support that is realistic and actually enables them to pay the bills.’

Ms Truss and Mr Kwarteng will meet with the Office for Budget Responsibility today ahead of the promised publication of a fully-costed plan for its economic strategy, which it failed to provide alongside last week’s mini-budget. 

The new government is under pressure to bring the planned date for that document to be released forward from November 23 amid plummeting investor confidence in the UK economy.

A week of remarkable market chaos triggered by the tax announcement has seen Labour surge to an unprecedented 33-point lead in one poll and strengthen its dominant position over the Tories in others.

Get in touch with our news team by emailing us at webnews@metro.co.uk.

For more stories like this, check our news page.

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