‘Reckless’ budget plan faces heavy criticism

Criticism has been levelled at the UK government, with the Conservative “mini-budget” being labelled “reckless”.

It comes after Chancellor Kwasi Kwarteng announced a new growth plan for the country, including a range of tax-cuts.

But Isles MP Alistair Carmichael said the moves by the Conservatives would see the national debt grow significantly.

Orkney and Shetland MP Alistair Carmichael.

The value of the pound dropped significantly after the measures were announced, and the cost of UK government borrowing rose sharply, suggesting market disquiet over the plans.

“The Conservatives have shown just how out of touch they are, putting handouts for bankers first and support for working people last,” said Mr Carmichael.


“With the worst inflation in decades, rising interest rates, and an economy heading into a recession, the last shred of Conservative credibility on the economy has been torn away.”

Mr Kwarteng said: “The fiscal strength of the UK government has allowed thousands of businesses in Scotland to keep more of their own money to invest, innovate, and grow. We are cutting National Insurance for 2.3 million Scottish workers, saving them an average of £285.

“And our Energy Bill Relief Scheme is protecting thousands of businesses across Scotland from rising energy costs with discounts of wholesale gas and electricity prices.”


Add Your Comment

Add Your Comment

Please note, it is the policy of The Shetland Times to publish comments and letters from named individuals only. Both forename and surname are required.

Comments are moderated. Contributors must observe normal standards of decency and tolerance for the opinions of others.

The views expressed are those of contributors and not of The Shetland Times.

The Shetland Times reserves the right to decline or remove any contribution without notice or stating reason.

Comments are limited to 200 words but please email longer articles or letters to editorial@shetlandtimes.co.uk for consideration and include a daytime telephone number and your address. If emailing information in confidence please put "Not for publication" in both the subject line and at the top of the main message.

200 words left

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Get Latest News in Your Inbox

Join the The Shetland Times mailing list to get one daily email update at midday on what's happening in Shetland.