Plaid Cymru wants decisive action from the Chancellor to address decline in living standards
Ahead of the Chancellor’s Spring Statement today, Plaid Cymru’s Treasury spokesperson, Ben Lake MP has called for decisive action to address the fall in living standards due to the cost-of-living crisis.
Mr Lake also urged Jeremy Hunt to adopt Plaid Cymru’s five point economic plan which was published at the weekend
The Ceredigion MP said: “Household incomes, already constrained by a 3.2% slump in wages between November and January, are now set to plummet by a further £1,100 in real terms over the next year.
“We face a real risk of a significant fall in living standards as a result, yet there is little sense of urgency in Whitehall to address it.
“Plaid Cymru’s five-point plan provides an avenue for the Chancellor to protect household incomes immediately.
“By ensuring that public sector wages and benefits at least keep pace with inflation, and by guaranteeing the extension of the Energy Bills Support Scheme and the Alternative Fuel Payment, we can take vital steps to shield people’s living standards from further harm.
“We must also look to the longer term and address the productivity crisis that has held us back for over a decade.
“Indeed, the Wales Governance Centre calculates that on our present trajectory, by 2027 Welsh incomes will be £10,300 lower than had the pre-financial crisis levels of growth been sustained.
“It is time to craft a comprehensive strategy which has investment in digital connectivity and green technologies at its heart. We otherwise risk continuing the toxic cycle of lurching from crisis to crisis with no prospect of a resolution.”
Support our Nation today
For the price of a cup of coffee a month you can help us create an independent, not-for-profit, national news service for the people of Wales, by the people of Wales.
There is no excuse for the failure of the UK Government (and the Labour Party) to adopt Modern Monetary Theory (yes, ho ho, the magic money tree, laugh Keir Starmer!). It will become a central part of financing Cymru after independence. More urgently, MMT demonstrates that austerity is never necessary. That is a political choice made by Tory governments, and sadly to be repeated by a Labour one it seems. There does not have to be cost-of-living crisis, which is being engineered by wilful ignorance and mendacity. A Bank of England in report in 2014 stated that we could just… Read more »
This pensioner says go careful on MMT. If all countries, or at least those with whom you trade, engage with MMT then it can work as a fix through a medium term need. It will cause a decline in value of currency if we were to go “solo”. The severe austerity that UK experienced over last 12-15 years could have been mitigated by issuing “credit” as most of the cuts were to public services so government could have self funded on the back of its own credits. However UK gov has a track record of preferring vanity projects over anything… Read more »
With respect, hdavies15, MMT has nothing to do with trade though the latter is a vulnerability which requires careful fiscal management. Poorly selected investments (HS2, nuclear energy, nuclear weapons) by both public and private sectors in the UK has accelerated national decline.
Cymru must escape the UK if it wishes to create a sustainable and stable culture and economy. Plainly, the lack of imagination in Westminster and Whitehall and the ill-advised ideologies of neo-liberalism and neo-classical economics have been undermining the quality of life for almost all of us.
Gaining full monetary sovereignty leading to the wise implementation of MMT are the most important steps for the Welsh people to end their domination under the neoliberal aka predatory capitalist hobnail boot of neo-fascist Tory England. The Welsh people should now demand full monetary sovereignty and full independence. Then they can implement a wise and compassionate system of Universal Free Basic Services (UFBS) with a National Job Guarantee (good job with a living wage and full benefits). Then the real community and egalitarian spirit and values of the Welsh people can blossom and be realized. UFBS means the following services… Read more »
Could Ben Lake or LSR ask the Defence Secretary what details he has about the downing of an American drone by Russian aircraft, most of what has been reported has been contradictory and illogical…
We from around Llanbedr have had more than a passing interest in drone technology for over the last 75 years given that RAE Llanbedr was the UK’s foremost UAV base for half a century…
see ‘Target Rolling’ A history of Llanbedr, by Wendy Mills…
I see the trolls have been at work!
Perhaps they could add how wonderful the Tory Government is, and how wonderful a conventional Labour Government will be!