Chancellor Tackles Winter Fuel Payments – A Tough, But Right Move
Rachel Reeves addressed the House of Commons this Tuesday, standing firm on her decision to terminate the winter fuel payments that had been handed to pensioners. While it’s a hard choice for many retirees, the Chancellor insists it’s the “right” one, especially after taking the reins from a government that left quite a mess.
The Key Numbers Behind the Decision
- Cutting the payments will touch around 10 million pensioners.
- It saves the Treasury roughly £1.4 billion this winter.
- Despite the removal, the fuel price cap is now lower than last year, and the state pension has risen to £900, easing costs for many elderly folks.
Why the Chancellor is Determined
During a Q&A about the upcoming Autumn Budget on 30 October, Reeves said she would not speculate on its specifics, but made it clear: the major goal is to make life better for working people under whatever plan follows the previous administration.
Talking to the Opposition
She also faced the Shadow Treasury Minister, Nigel Huddleston, and replied:
“This budget will be a budget to fix the foundations of the economy after the mess left by the previous government.”
Corporation Tax – A Stay‑Put Decision
The Chancellor confirmed that corporation tax will remain unchanged, aiming to keep business confidence buoyant and avoid unsettling the corporate sector.
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