https://sputnikglobe.com/20220511/bojos-hints-at-emergency-budget-over-cost-of-living-crisis-were-over-interpreted---michael-gove-1095425553.html
BoJo’s ‘Hints’ at Emergency Budget Over Cost of Living Crisis Were ‘Over Interpreted' - Michael Gove
BoJo’s ‘Hints’ at Emergency Budget Over Cost of Living Crisis Were ‘Over Interpreted' - Michael Gove
Sputnik International
Speaking on Tuesday during a Commons debate on his legislative agenda, announced earlier in the Queen’s Speech, Boris Johnson said the government had already... 11.05.2022, Sputnik International
2022-05-11T10:53+0000
2022-05-11T10:53+0000
2023-05-28T15:19+0000
boris johnson
michael gove
uk treasury
cost of living
united kingdom (uk)
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Boris Johnson’s government will not be bringing forward an emergency budget to deflect the effects of the cost of living crisis on households across the UK, Michael Gove was cited as saying by Sky News.However, the Secretary of State for Levelling Up, Housing and Communities vowed that ministers "will be saying more and doing more to help people".Speaking on Wednesday, he also said that the UK Prime Minister’s words spoken in Parliament earlier were "over interpreted".In the Queen's Speech, part of the State Opening of Parliament ceremony and delivered by Prince Charles as the Queen was forced to withdraw because of intermittent mobility problems, the Government set out its priority "to grow and strengthen the economy and help ease the cost of living for families".However, responding to some of the 38 laws outlined which ministers intend to pass in the year ahead, Labour leader Sir Keir Starmer slammed the Tory government as "bereft of ideas, without a guiding principle or a roadmap for delivery”.Ahead of a looming "stagflation crisis" critics claim that the UK Prime Minister’s programme for the new parliamentary session offers few new policies likely to boost the economy in the short term.Liberal Democrat leader Sir Ed Davey also decried the lack of more specific and timely action:During a debate on his legislative agenda that followed the Queen’s Speech, Johnson fended off criticism from Starmer, saying:Johnson also mentioned resorting to the "fiscal firepower" of the government to ease the cost of living situation for households under strain.The lack of clarity on whether Johnson was hinting at a forthcoming round of support had given rise to speculation of an “emergency budget”. However, a Treasury source was swift to dash these hopes, cited by the media as saying that any support on soaring energy bills would be announced pending details of the next price cap level, due to be set from October.Energy bills are expected to break more records later this year as wholesale costs rise, driven by demand and global events. The price cap is anticipated to hit £2,595.19 this winter, according to forecasts from consultancy Cornwall Insight. As of 1 April, the cap limiting the maximum amount suppliers can charge for each unit of gas and electricity used was raised by 54 percent by regulator Ofgem, reaching £1,971.Furthermore, inflation is forecast to hit 10 percent, with benefits and wages failing to keep up with the increase in prices.Asked by Sky News to weigh in on the speculation of an imminent “emergency budget” and statements made by Johnson and the Treasury, Michael Gove said:Gove continued, reiterating what the PM had said about “saying more and doing more in order to help people with the cost of living challenge”. However, he added, “that doesn't amount to an emergency budget. It is part of the work of Government.”
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BoJo’s ‘Hints’ at Emergency Budget Over Cost of Living Crisis Were ‘Over Interpreted' - Michael Gove
10:53 GMT 11.05.2022 (Updated: 15:19 GMT 28.05.2023) Speaking on Tuesday during a Commons debate on his legislative agenda, announced earlier in the Queen’s Speech, Boris Johnson said the government had already helped families cope with the increase to their cost of living, and would continue to do so, adding that “the Chancellor [Rishi Sunak] and I will be saying more about this in days to come."
Boris Johnson’s government will not be bringing forward an emergency budget to deflect the effects of the
cost of living crisis on households across the UK, Michael Gove
was cited as saying by Sky News.
However, the Secretary of State for Levelling Up, Housing and Communities vowed that ministers "will be saying more and doing more to help people".
Speaking on Wednesday, he also said that the UK Prime Minister’s words spoken in Parliament earlier were "over interpreted".
In the
Queen's Speech, part of the State Opening of Parliament ceremony and delivered by Prince Charles as the Queen was forced to withdraw because of intermittent mobility problems, the Government set out its priority "to grow and strengthen the economy and help ease the cost of living for families".
However, responding to some of the 38 laws outlined which ministers intend to pass in the year ahead, Labour leader Sir Keir Starmer slammed the Tory government as "bereft of ideas, without a guiding principle or a roadmap for delivery”.
Ahead of a looming "stagflation crisis" critics claim that the UK Prime Minister’s programme for the new parliamentary session offers few new policies likely to boost the economy in the short term.
Liberal Democrat leader Sir Ed Davey also decried the lack of more specific and timely action:
“This Queen’s Speech does nothing to help the millions of families and pensioners facing soaring bills and eye-watering inflation. It shows a prime minister refusing to listen to the clear message sent by voters at last week’s local elections who are fed up of being taken for granted by this Conservative government.”
During a debate on his legislative agenda that followed the Queen’s Speech, Johnson fended off criticism from Starmer, saying:
"We will continue to use all our ingenuity and compassion for as long as it takes and the Chancellor and I will be saying more about this in the days to come."
Johnson also mentioned resorting to the "fiscal firepower" of the government to ease the cost of living situation for households under strain.
The lack of clarity on whether Johnson was hinting at a forthcoming round of support had given rise to speculation of an “emergency budget”. However, a Treasury source was swift to dash these hopes, cited by the media as saying that any support on soaring energy bills would be announced pending details of the next price cap level, due to be set from October.
"There will be no emergency budget and budget timelines will be set out in the usual way," stated the source.
Energy bills are expected to break more records later this year as wholesale costs rise, driven by demand and global events. The price cap is anticipated to hit £2,595.19 this winter, according to forecasts from consultancy Cornwall Insight. As of 1 April, the cap limiting the maximum amount suppliers can charge for each unit of gas and electricity used was raised by 54 percent by regulator Ofgem, reaching £1,971.
Furthermore, inflation is forecast to hit 10 percent, with benefits and wages failing to keep up with the increase in prices.
Asked by Sky News to weigh in on the speculation of an imminent “emergency budget” and statements made by Johnson and
the Treasury, Michael Gove said:
"They're both right and there won't be an emergency budget… It is sometimes the case that the words from a prime minister or minister are over interpreted.”
Gove continued, reiterating what the PM had said about “saying more and doing more in order to help people with the cost of living challenge”. However, he added, “that doesn't amount to an emergency budget. It is part of the work of Government.”
"Last night the prime minister convened a group of ministers - we have all done work on some of the things we could do to help. Those policy initiatives will be announced by individual departments in due course as they are worked up. It is part of the process for a government that is always and everywhere thinking of how we can help and how we can provide support, both short term and long term," concluded Gove.
