Chancellor Jeremy Hunt set to declare that dire predictions about UK’s future are ‘wrong’

Published

2 years ago

January 27, 2023

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The chancellor will dismiss “gloom” about the prospects for the UK economy and say the government will bring about long-term prosperity in a plan “energised” by Brexit.

Mr Hunt will deliver an upbeat message in a keynote speech today, where he will say the government has a plan to use “British genius and British hard work” to boost economic growth and make the country “the world’s next Silicon Valley”.

He will go on to say the UK is “poised to play a leading role in Europe and across the world in the growth sectors which will define this century”.

According to advance extracts from his speech released by the Treasury, he will also say “declinism about Britain was wrong in the past and it is wrong today”.

Speaking at Bloomberg’s European headquarters in London, Mr Hunt is also expected to continue to resist calls from some Tory MPs for tax cuts to kickstart flagging economic growth.

Instead he will say the UK should exploit the opportunities provided by the UK’s withdrawal from the EU to raise productivity while using the proceeds of growth to support public services.

Mr Hunt will say that some of the “gloom” about the current economic outlook is based on statistics that “do not reflect the whole picture”.

“Like every G7 country, our growth was slower in the years after the financial crisis than the years before it,” he will say.

“But since 2010, the UK has grown faster than France, Japan and Italy. Since the Brexit referendum, we have grown at about the same rate as Germany.

“If we look further ahead, the case for declinism becomes weaker still. The UK is poised to play a leading role in Europe and across the world in the growth sectors which will define this century.”

Mr Hunt will also say: “Our plan for the years that follow is long-term prosperity based on British genius and British hard work.

“(And) world-beating enterprises to make Britain the world’s next Silicon Valley.”

The chancellor will add: “It is a plan necessitated, energised and made possible by Brexit which will succeed if it becomes a catalyst for the bold choices we need to take.

“Our plan for growth is a plan built on the freedoms which Brexit provides. It is a plan to raise productivity.

“It is a plan to use the proceeds of growth to support our public services at home, to support businesses in the new low-carbon economy and to support democracy abroad.

“It is the right course for our country and the role in the world to which we aspire.”

Mr Hunt will also use his speech to announce that the government is to proceed with reforms to so-called “Solvency II” – an EU directive that governs the amount of funds British insurers are required to hold in reserve.

The Treasury pointed to an estimate by the Association of British Insurers which suggested the changes could unlock up to £100bn of private investment into UK infrastructure and clean energy – such as nuclear power – over the coming decade.

His address will come after a cabinet away day at Chequers yesterday, where Mr Hunt told ministers they must maintain their “disciplined approach” if they are to get inflation under control.

The chancellor is facing calls from some Tory MPs to cut taxes in his budget in March to inject growth into the economy.

But at Chequers, both he and Prime Minister Rishi Sunak emphasised the priority remained inflation which was only predicted to fall because of the “tough decisions” taken to stabilise the economy following former PM Liz Truss’s catastrophic mini-budget tax giveaway.

“The chancellor said it would be necessary to retain this disciplined approach in order to reduce inflation, because it is the greatest driver of the cost of living,” according to a No 10 readout of the meeting.

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Kemi Badenoch calls on Sir Keir Starmer to sack Tulip Siddiq over property allegations

Published

5 hours ago

January 12, 2025

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Kemi Badenoch calls on Sir Keir Starmer to sack Tulip Siddiq over property allegations

Conservative Party leader Kemi Badenoch has called on Sir Keir Starmer to sack Treasury minister Tulip Siddiq over allegations she lived in properties linked to allies of her aunt, Sheikh Hasina, the deposed prime minister of Bangladesh.

It comes after the current Bangladeshi leader, Muhammad Yunus, said London properties used by Ms Siddiq should be investigated.

He told the Sunday Times the properties should be handed back to his government if they were acquired through “plain robbery”.

Tory leader Ms Badenoch said: “It’s time for Keir Starmer to sack Tulip Siddiq.

“He appointed his personal friend as anti-corruption minister and she is accused herself of corruption.

“Now the government of Bangladesh is raising serious concerns about her links to the regime of Sheikh Hasina.”

Ms Siddiq insists she has “done nothing wrong”.

Her aunt was ousted from office in August following an uprising against her 20-year leadership and fled to India.

Ms Siddiq is also named with her aunt in Bangladesh court documents about meetings with the Russian government.

As economic secretary to the Treasury, Ms Siddiq is responsible for policy on both the City and tackling corruption.

She referred herself to the prime minister’s ethics watchdog on Monday following the reports about the properties.

On the same day, the prime minister said: “Tulip Siddiq has acted entirely properly by referring herself to the independent adviser, as she’s now done, and that’s why we brought into being the new code.

“It’s to allow ministers to ask the adviser to establish the facts, and yes, I’ve got confidence in her, and that’s the process that will now be happening.”

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Search area widened for missing sisters in Aberdeen

Published

5 hours ago

January 12, 2025

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Search area widened for missing sisters in Aberdeen

Police in Aberdeen have widened the search area for two sisters who disappeared four days ago in the city.

Eliza and Henrietta Huszti, both 32, were last seen on CCTV on Market Street after leaving their home on Tuesday at around 2.12am.

The sisters – who are part of a set of triplets and originally from Hungary – crossed the Victoria Bridge to the Torry area and turned right on to a footpath next to the River Dee.

They headed in the direction of Aberdeen Boat Club but officers said there is no evidence to suggest the missing women left the immediate area.

Specialist search teams, police dogs and a marine unit have been trying to trace the pair.

Further searches are being carried out towards the Port of Aberdeen’s South Harbour and Duthie Park.

Police Scotland said it is liaising with authorities in Hungary to support the relatives of the two sisters.

Chief Inspector Darren Bruce said: “Eliza and Henrietta’s family are understandably extremely worried about them and we are working tirelessly to find them.

“We are seriously concerned about them and have significant resources dedicated to the inquiry.”

The sisters, from Aberdeen city centre, are described as slim with long brown hair.

Officers have requested businesses in and around the South Esplanade and Menzies Road area to review their CCTV footage for the early morning of Tuesday 7 January.

Police added they are keen to hear from anyone with dashcam footage from that time.

UK

Katie Piper reveals artificial eye decision – 16 years after acid attack

Published

5 hours ago

January 12, 2025

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Katie Piper reveals artificial eye decision - 16 years after acid attack

TV presenter Katie Piper has revealed her decision to get an artificial eye, 16 years after an acid attack that left her with life-changing injuries and partial blindness.

The Loose Women panellist, 41, is an advocate for those with burns and disfigurement injuries.

She shared a video of her being fitted with the prosthetic on Instagram.

Piper said: “After many years battling with my eye health, I’ve reached the end of the road somewhat, and the decision has been made to try a prosthetic eye shell.

“This marks the start of a journey to have an artificial eye, with an incredible medical team behind me.

“As always I’m incredibly grateful to all those in the NHS and private health care system for their talent and kindness.

“I will share my journey, I’m hopeful and nervous about being able to tolerate it and would love to hear from any of you in the comments if you’ve been on this journey or have any advice.”

Commenting on the post, presenter Lisa Snowdon said Piper was a “warrior” and a “true inspiration”.

Piper has undergone hundreds of operations after suffering an acid attack arranged by her ex-boyfriend in March 2008.

She gave up her right to anonymity and made a documentary in 2009 called Katie: My Beautiful Face.

Piper also founded the Katie Piper Foundation which supports survivors of life-changing burns and scars, and has received an honorary doctorate from the Royal College of Surgeons to mark her ground-breaking work.

She was made an OBE in 2021 for her services to charity and burn victims.