This Will Be A Tough Statement in Tough Times – Guido Fawkes

Healey: This Will Be A Tough Statement in Tough Times

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John Healey has set the mood for today on the morning media round. Dour…

The defence secretary told the Today Programme this afternoon’s Spring Forecast statement will be a “tough, strong statement in tough times.” Emphasis on the tough there…

Reeves is giving the statement straight after PMQs at around 12:30 and will be countered by Mel Stride. Following a dispute over welfare savings with the OBR Reeves has to find more cash to cut to satisfy the fiscal rules: 1) no borrowing for day-to-day spending and 2) to have debt falling as share of GDP by the end of the parliament. A £2.2 billion defence budget boost will be confirmed…

Despite Justin Webb trying his hardest to get the defence secretary to blame global instability on Trump Healey dodged criticism of the President and bizarrely pointed the finger at Liz Truss:

“We are in a situation, nine months into this government, where the overhang of the period of Liz Truss means that our debt levels are still too high, the cost of servicing that debt is too high.”

Guido seems to remember ten year gilt yields dropping since Liz’ short premiership before rising to 4.47% (compared to Truss’ 3.47% peak) directly after the Budget and then going up again to their highest rate since 2008 as its growth implications became clear in the new year. According to YouGov Brits have already started to blame financial decisions on Labour as opposed to the Tories’ inheritance. Not buying it…