Milton Keynes councillors call for Parliament to be recalled after Chancellor Kwasi Kwarteng’s 'shambolic' budget

As the pound plummets to a a record low against the dollar, the councillors have slammed Kwasi Kwarteng’s budget as “shambolic and reckless”.

They say the plummeting pound could lead to rising food and petrol prices and spiking mortgage interest rates – and they are demanding urgent action be taken to address the unfolding disaster.

The Lib Dems are also calling for a tougher windfall tax on oil and gas giants, plus new investment in local health services.

Liberal Democrat group Leader on Milton Keynes City Council, Cllr Robin Bradburn, said: “The Chancellor’s out of touch and shambolic budget has been exposed as a reckless gamble. The Conservatives are giving huge unfunded tax cuts to the banks, while neglecting local health services and hammering ordinary people with years of tax hikes.

“Not enough is being done by the Government to help families in Milton Keynes who are struggling and worried about being landed with higher bills, higher taxes, and higher mortgage payments.”

Research by the Liberal Democrats has shown that the average family will pay £290 more in tax next year as a result of the freezing of income tax thresholds, despite the 1p cut to the basic rate.

They are calling for the scrapping of the planned cut to corporation tax, guaranteed support for businesses with energy costs for one year, and a freeze on domestic energy prices .

Finally, the Lib Dems are calling for investment into a “winter rescue plan” for the NHS to recruit more doctors, dentists, and paramedics.