‘Redwood4Chancellor’ demand as Rishi Sunak comes under pressure to cut taxes quickly
Rishi Sunak shares concerns about making cost of living 'worse'
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
The Wokingham MP and veteran Brexiteer, dubbed the Vulcan by his opponents because of a resemblance to Mr Spock from Star Trek, is also well known for being one of the biggest brains in Parliament but has not served as a minister since the 1990s. But his intervention has come at a time when Mr Sunak was accused by Tory MPs of “not having an economic policy or long term plan” in a heated meeting earlier this week.
Within minutes of his tweets leading Conservatives and centre right politicians took to social media to call for Sir John, a fellow of an Oxford University college, to replace Mr Sunak as Chancellor.
Conservative commentator Tim Montgomerie Tweeted: “Redwood4Chancellor”.
Businessman and former Brexit Party MEP Lance Forman posted: “@BorisJohnson please make John Redwood Chancellor.”
Former Conservative candidate and polling company executive Spencer Pitfield said: “Quite a beautiful day to be out and about in London – just had the good luck to catch up with @montie & agree Mr Redwood for Chancellor!”
In his tweet, Sir John called for tax cuts and an increase in benefits to end the cost of living crisis and get the economy moving again amid fears of an inflation crisis and a major recession.
He said: “Raise Universal credit, cancel the National insurance rise, suspend VAT on fuel, end the threat of higher business taxes, cut Council tax. These are necessary to ease the squeeze and to stop future job losses.”
The intervention has come at a time of increasing anger directed at both 10 and 11 Downing Street over the economic crisis.
Express.co.uk revealed on Monday Mr Sunak was confronted in a meeting with 30 Tory MPs over a lack of economic policy.
There has been confusion over whether he backs a windfall tax on energy companies and Conservative MPs are still demanding that the National Insurance rise to pay for the NHS backlog be cancelled.
There are also concerns over plans to increase corporation tax by 3p which reportedly is keeping businesses away from relocating to the UK or investing here.
Meanwhile, inflation is at its worst level since the 1980s and edging towards 10 percent.
Hoyle hits back as he rages at demands he shut down bars in Parliament [REACT]
It’s a piece of cake for Boris while Starmer is drowning in beer [INSIGHT]
‘Not immune’ Warning to IRA suspects who were sent letters [REVEAL]
In his speech to the CBI this week Mr Sunak admitted that change was needed with a promise of tax cuts in the next Budget.
“We need you to invest more, train more and innovate more,” he said.
“In the autumn budget we will cut your taxes to encourage you to do all those things. That is the path to higher productivity, higher living standards and a more prosperous and secure future.”
Source: Read Full Article