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UK Labour leader Starmer: govt must recall parliament and abandon budget

Economy Sep 28, 2022 13:54
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© Reuters. British Labour Party leader Keir Starmer looks on, at Britain's Labour Party annual conference in Liverpool, Britain, September 28, 2022. REUTERS/Henry Nicholls

LONDON (Reuters) - British opposition Labour leader Keir Starmer said on Wednesday the government should recall parliament and abandon plans set out last week to slash taxes and ramp up borrowing which have sent financial markets into turmoil.

Parliament is currently in recess while the main British political parties hold their annual conferences. It is due to return on Oct. 11. Other opposition parties have also called for parliament to return early.

"The government has clearly lost control of the economy ... this is self-inflicted," Starmer told Sky News. "What the government needs to do now is recall parliament and abandon this budget before any more damage is done."

Sterling fell more than 1% against the dollar and euro on Wednesday after the Bank of England said it would step in to calm the UK's frenzied bond markets.

"The move by the Bank of England is very serious, and I think many people will now be extremely worried about their mortgage, about prices going up, and now about their pensions," Starmer said.

 

 

UK Labour leader Starmer: govt must recall parliament and abandon budget
 

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Comments (8)
Peter Wallace
Peter Wallace Sep 28, 2022 19:01
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Seriously Skyler? Don't you think it it may have more to do with the utter shambles that is our parliament and the inept, incompetent and corrupt politicians that lounge around there all day?
John Williams
John Williams Sep 28, 2022 18:52
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TRUSS OUT. UNELECTED RIGHT WINGER.
Chris Hm
Chris Hm Sep 28, 2022 18:36
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Some folk would be better off using tik tok or twitter.
Skyler Shah
Skyler Shah Sep 28, 2022 18:10
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Peter and Chris, people like you are the reason the UK is in such a political, social and economic decline.
John Williams
John Williams Sep 28, 2022 18:10
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I agree
Skyler Shah
Skyler Shah Sep 28, 2022 18:09
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Chris and Peter, you are why the UK is in such a social, economic and politics decline.
Chris Hm
Chris Hm Sep 28, 2022 18:07
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Amateurish chancer
Peter Wallace
Peter Wallace Sep 28, 2022 17:00
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Didn't hear him shouting for that when they were on their 6 week summer hols and energy prices started going through the roof, Majorca seemed far more appealing to him then.
Liton Das
Liton Das Sep 28, 2022 14:20
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No market intervation from UK government to save GBP from free falling?
 
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