Informer East Africa accepts donations to continue delivering daily news to you.

Donation Amount. Min £2

Photo Courtesy Bloomberg

Embattled UK Prime Minister Liz Truss faces a brewing parliamentary rebellion if she is forced to abandon a key Conservative manifesto commitment on pensions as part of a frantic austerity drive.

Most Read from Bloomberg

Chancellor of the Exchequer Jeremy Hunt has refused to guarantee that he will stick to the Tories’ election pledge to raise the state pension in line with the highest of either inflation, wages or 2.5% -- known as the “triple lock.” 

Truss’s spokesman Max Blain also wouldn’t be drawn out on whether she would keep the triple lock at a briefing for journalists on Tuesday.

The uncertainty on pensions comes as government departments were told by the Treasury to find savings of up to 15% of their budgets, with no options considered off the table, in what is effectively a return to austerity.

It poses a new political problem for Truss and Hunt, with many Tory members of Parliament representing large numbers of older constituents who typically form their core voter base.

On Tuesday night, Tory MPs Maria Caulfield and Steve Double went public to say they would not vote for an end to the triple lock.

The Treasury also refused to deny that it is considering raiding the profits of banks and energy companies as it seeks to fill its funding black hole.

The Financial Times reported Hunt was considering a potential 33% effective tax rate for banks, made up of the new 25% corporation tax rate coming in next April, and an 8% surcharge. Currently banks pay an effective tax rate of 27% on their profits.

A Treasury spokesperson said: “We can’t comment on specific speculation, however the Chancellor and PM have been clear that difficult decisions will be required to restore economic stability, and no options are off the table.”

Truss held a private meeting with members on the pro-Brexit right-wing of her party late Tuesday as she sought to steady the ship following a desperate start to the week that saw Tory MPs openly plot her downfall.

In an attempt to solidify her position among hardline Brexiteers, the prime minister told the room she was committed to her existing policy on the Northern Ireland Protocol and recommitted to taking all EU law off the UK statute book by the end of next year, her deputy press secretary told reporters.

Truss faces a bruising encounter with Labour leader Keir Starmer at prime minister’s questions on Wednesday lunchtime, where the Tory backbenchers who can ultimately decide her fate will be watching closely.

The executive of the 1922 committee, which controls the rules that govern the Tory leadership process, meets Wednesday afternoon.

Hunt is set to address the 1922 Committee of rank-and-file Tory MPs at 5pm, according to a person familiar with the matter. Source: Bloomberg

About IEA Media Ltd

Informer East Africa is a UK based diaspora Newspaper. It is a unique platform connecting East Africans at home and abroad through news dissemination. It is a forum to learn together, grow together and get entertained at the same time.

To advertise events or products, get in touch by info [at] informereastafrica [dot] com or call +447957636854.
If you have an issue or a story, get in touch with the editor through editor[at] informereastafrica [dot] com or call +447886544135.

We also accept donations from our supporters. Please click on "donate". Your donations will go along way in supporting the newspaper.

Get in touch

Our Offices

London, UK
+44 7886 544135
editor (@)
Slough, UK
+44 7957 636854
info (@)

Latest News

Centenary Bank and Pamoja foundation join hands to keep Nakawa Market clean

Centenary Bank and P...

Centenary Bank, Uganda’s leading commercial microfinance bank, has today joined hands with Pamoja Fo...

Egypt: Human Rights Group and its Director Threatened and Smeared

Egypt: Human Rights...

Ahmed Salem, the director of the Sinai Foundation for Human Rights, has been under an aggressive sme...

US Accused of Killing Cuban Doctors in Somalia Airstrike

US Accused of Killin...

A U.S. Predator drone armed with a Hellfire missile flies on a combat mission over Afghanistan in 2...

Embakasi central MP questions transparency in NYS recruitment

Embakasi central MP...

An NYS recruitment underway during the 2024 intake carried out in February. He emphasized the need f...

For Advertisement

Big Reach

Informer East Africa is one platform for all people. It is a platform where you find so many professionals under one umbrella serving the African communities together.

Very Flexible

We exist to inform you, hear from you and connect you with what is happening around you. We do this professionally and timely as we endeavour to capture all that you should never miss. Informer East Africa is simply news for right now and the future.

Quality News

We only bring to you news that is verified, checked and follows strict journalistic guidelines and standards. We believe in 1. Objective coverage, 2. Impartiality and 3. Fair play.

Banner & Video Ads

A banner & video advertisement from our sponsors will show up every once in a while. It keeps us and our writers coffee replenished.