Digest opened free editor
Rola Khaleda, FT editor, chooses her favorite stories in this weekly newsletter.
The UK Chancellor Rachel Reeves restore fuel payments in the winter to all retirees except for 2 million with more than 35,000 pounds, at a turn of the treasury 1.25 billion pounds.
Reeves announced the decline before reviewing the spending for this week because it tried to obtain some positive addresses at a narrow compressed time on some public service budgets.
The advisor was forced to hold by the Labor Party in the local English elections last month and the subsequent intellectual response from the party’s deputies in Westminster.
According to the revised plan, about 9 million retired people will receive this winter, which deserves either 200 pounds or 300 pounds.
About 2 million retirees who have a taxable income will also get more than 35,000 pounds to pay, but the money will be recovered through HM Revenue & Customs.
Reeves Tort leaves it with a hole of 1.25 billion pounds per year in public financial affairs by the end of the contract compared to the plan it laid down in July last year.
The chancellor said on Monday that the costs will be calculated in her autumn budget and that she will take steps to fill the financial opening. “This will not lead to an additional permanent metaphor,” the Treasury said.
Many economists believe Refiz Raising taxes will be forced in the fall, not the least of which is that the Labor Party representatives are pressuring them to expand their plans to reduce social welfare payments.
Under the original Reeves Plan, the poorest retirees – those who receive retirement credit – would continue to obtain fuel payments in the winter. About 10 million were assigned to inspect support.
The revised plan will reach about 2 million retirees, who will be paid for support automatically before its recovery, either through employers and pensions providers, or through annual tax declarations.
The Treasury has argued that these 2 million retirees live “much higher than the level of retirees in poverty” and that the 35,000 pounds sterling threshold was widely in line with the average profits.
The treasury said that the money will be returned from individuals instead of families, which means that couples who have one person below the threshold are still receiving a partial boost even if their partner’s profits are very high.
“Targeting fuel payments in the winter was a difficult decision, but it was the right decision because of the inheritance we left by the previous government,” Reeves said.
“It is also right to continue to test this batch so that it is targeted and fair, instead of restoring eligibility for all, including the richest.”
The Treasury said that the final plan for this winter will provide 450 million pounds compared to the original program, which was a global benefit paid to all retirees.
But some experts have to caution U-U-Urn may mean that the government is achieving very limited savings because the initial reduction last year motivated more retirees to register for retirement credit.
There were about 230 million pounds of new claims to obtain retirement credit after the government initially encouraged requests to compensate for the effects of discounts.
“This humiliating role will come as a slight comfort for retirees who were forced to choose between heating and eating last winter. The Prime Minister must now apologize for his terrible referee,” said conservative leader Kimi Badnoush.
UK reform leader Nigel Faraj, who called on the government to the opposite of the reduction, said his party could “demand credit” for rotation. “I think we have made the political weather on this,” he told the party’s supporters in Wales on Monday.
Additional reports from Anna Gross in Port Talbot
https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F27c77e4b-730a-42a9-81b8-f4f00ec54272.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1
Source link