San Diego, CA
UK PM Starmer warns of ‘painful' October budget to tackle shortfall in public finances
![UK PM Starmer warns of ‘painful' October budget to tackle shortfall in public finances UK PM Starmer warns of ‘painful' October budget to tackle shortfall in public finances](https://media.nbcsandiego.com/2024/08/108025819-1724753890326-gettyimages-2167922004-POLITICS.jpeg?quality=85&strip=all&resize=1200%2C675)
- U.K. Prime Minister Keir Starmer on Tuesday told the nation that the upcoming October budget would be “painful,” as he paves the way for government spending cuts to address a £22 billion ($29 billion) financing shortfall.
- Starmer said the U.K.’s public finances were “worse than we ever imagined” and that “difficult” decisions lay ahead, after he announced plans to test winter fuel payments made to pensioners.
LONDON — U.K. Prime Minister Keir Starmer on Tuesday told the nation that the upcoming October budget would be “painful,” as he paves the way for spending cuts to address what the government says is a £22 billion ($29 billion) financing shortfall.
“We have no other choice given the situation that we’re in,” Starmer said in a speech in the gardens of 10 Downing Street, the prime minister’s residence.
“Those with the broadest shoulders should bear the heavier burden, that’s why we’re cracking down on non-doms,” he added, referring to U.K. residents whose domicile is outside of the country for tax purposes.
“Those who made the mess should have to do their bit to clean it up, that’s why we’re strengthening the powers of the water regulator and backing tough fines on the water companies who have let sewage flood our rivers, lakes and seas,” Starmer said. “But just as when I responded to the riots, I’ll have to turn to the country and make big asks of you as well, to accept short-term pain for long-term good, the difficult trade-off for the genuine solution.”
Starmer’s Labour party took power in early July following a landslide election victory. The U.K. parliament is on a summer break between July 30 and Sept. 2, although the new government has been navigating challenges including a series of riots around the nation involving far-right groups and a capacity crisis in the prison system.
The Labour administration has meanwhile benefitted from the ongoing fall in inflation, which is hovering around 2%, from the start of interest rate cuts by the politically-independent Bank of England and from the economic return to growth for the past two successive quarters.
In its electoral manifesto, Labour said it would raise £7.35 billion ($9.71 billion) by 2028-29 to fund public services through measures including closing tax loopholes on nondomiciled individuals, removing tax breaks for independent schools, closing what has been described as a “tax loophole” for private equity investors, and introducing a “time-limited windfall tax” on oil and gas firms.
Starmer and Finance Minister Rachel Reeves have repeatedly stated they will prioritize economic growth and fiscal responsibility in their policymaking.
In his Tuesday speech, Starmer said the U.K.’s public finances were “worse than we ever imagined” and accused the previous government of masking a £22 billion “black hole.”
Labour announced the shortfall figure at the end of July and blamed it on overspending and poor budgeting by the previous Conservative government.
Former Finance Minister Jeremy Hunt in July wrote to Simon Case, the head of the British civil service, labeling Labour’s claims about the public finances “deeply troubling.”
Hunt said the alleged £22 billion gap differed from the “main estimates” for spending presented for approval before Members of Parliament on July 17. He added that the disparity in figures risked bringing the politically-neutral civil service into disrepute, since estimates are signed off by its senior officials.
The Institute for Fiscal Studies, an independent research group, has previously argued Labour was aware of the “broad outline” of the size of the deficit and was not upfront during the election campaign about the cuts and tax rises that would be needed to maintain public services.
“Growth — and frankly, by that I do mean wealth creation — is the number one priority of this Labour government,” Starmer said on Tuesday.
Starmer said he had not wanted to take the path to means test the Winter Fuel Payment, a payout for pensions, in a move that has been controversial even within his own party — but added that more “difficult” decisions would come.
Starmer said taxes would not rise for “working people” in the October budget, although he did not supply additional details. Labour has previously pledged not to increase value added tax, national insurance — a general taxation — or income tax.
The speech was criticized by politicians from other parties.
“Keir Starmer says cutting the winter fuel payment is a choice he had to make. But when asked about a wealth tax – Rachel Reeves said their spending commitments didn’t require extra investment. So his tough choices are to not tax wealth of billionaires,” Zack Polanski, deputy leader of the Green Party, said on social media network X.
Conservative politician Kemi Badenoch, a frontrunner to replace Rishi Sunak as party leader, said the speech showed that Starmer “campaigned on promises he couldn’t deliver and now he is being found out,” according to BBC News.
Liberal Democrats leader Ed Davey meanwhile stated that the Conservatives left a “toxic legacy” that needed “bold and ambitious action from the government to fix.”
CNBC has contacted the Conservatives for comment.
Financial markets and investors are still waiting for concrete announcements from the government, David Denton, technical consultant at investment management firm Quilter Cheviot, said in a note.
“During Labour’s election campaign, the party emphasised the various taxes it would not seek to raise, such as National Insurance, VAT, and income tax. Therefore, an increase in Capital Gains Tax (CGT) seems plausible,” Denton said. “An alignment with income tax rates or even a minimal increase might impact investor behaviour.”
He added, “Another potential problem is that unless anti-forestalling measures are announced with any plans, we could see a surge in property on the market as homeowners rush to sell investment properties before new legislation comes into place.”
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San Diego, CA
Bob Baffert’s Adare Manor to run in Saturday’s Pacific Classic at Del Mar
![Bob Baffert’s Adare Manor to run in Saturday’s Pacific Classic at Del Mar Bob Baffert’s Adare Manor to run in Saturday’s Pacific Classic at Del Mar](https://www.sandiegouniontribune.com/wp-content/uploads/2024/08/Adare-Manor-ti1-200-1.jpg?w=1024&h=731)
Del Mar’s signature race of the summer gained some needed star power Monday night, when trainer Bob Baffert said he would enter his star mare Adare Manor in Saturday’s $1 million Pacific Classic.
Only one female has won the race in 33 prior runnings — Beholder in 2015.
Adare Manor, a 5-year-old daughter of Uncle Mo, has won 10 of her 18 starts, including the Grade 1 Clement L. Hirsch Stakes the last two years at Del Mar. She has never run against males or gone as far as 1 1/4 miles.
Entries will be taken Tuesday, with the post positions drawn in the afternoon. The only other Grade 1 winner nominated was Express Train, whose victory came nearly 2 1/2 years ago in the 2022 Santa Anita Handicap.
Baffert, in a text to the Union-Tribune’s Bill Center, also said he would enter Reincarnate, who was second last month in the Cougar II Stakes at Del Mar. Baffert also nominated the 3-year-old Muth but had said last weekend he would not start both Adare Manor and Muth.
Other nominees were San Diego Handicap winner Dr. Venkman, Cougar II winner Midnight Mammoth, Il Miracolo, Katonah, None Above the Law, Mixto, Clooney and Full Serrano.
Originally Published:
San Diego, CA
Editor's Note, September 2024: California Love | San Diego Magazine
![Editor's Note, September 2024: California Love | San Diego Magazine Editor's Note, September 2024: California Love | San Diego Magazine](https://sandiegomagazine.com/wp-content/uploads/2024/08/Wikipedia-Yosemite.jpg)
California is built on drama. There is nothing subtle about this place, and there never was. Our landscape is the result of a hundred million years of violent plate tectonics, lava flows, ancient glaciers, and the kind of patience only Mother Earth knows. What burst forth from the combining of these dramatic forces is unlike anyplace else on Earth, rich with the best the planet has to offer: mountains, coastlines, canyons, valleys, plains, deserts, burritos.
We’re home to the largest and oldest trees in the world and the highest and lowest points in the contiguous US (within 80 miles of each other, no less. Drama). Truly, California is the main character.
Today, California is America with the volume turned up. No other state matches our energy, cultural contributions, or natural beauty. We’re home to a global entertainment industry, a global tech industry, and an economy that nearly every country envies, as well as some of the most stunning landscapes not just in the US, but anywhere.
Sure, it’s loud and it’s crowded here, but California, both as a place and as an idea, is simply unrivaled. It’s why so many people want to come to visit and to live.
So, dip us in gold and call us superfans. We love it here, which is why we’re deliriously happy to bring you our first-ever California issue. With this issue, we wanted to delve into some of what’s happening outside our county lines and offer our readers a feeling of connection to a larger community of people who call California home. There’s so much to explore.
In these pages, we’re looking at our state at large (while staying anchored in SD, of course). First, we’re going surfing with women in Santa Barbara who picked up the sport later in life, then, we’re looking at a California crisis: Birth centers are closing due to regulatory red tape, leaving parents-to-be—especially low-income and minority mothers—with few options for where they can give birth.
![Things to do in California featuring Channel Islands national Park](https://sandiegomagazine.com/wp-content/uploads/2024/08/National-Park-Service-Channel-Islands.jpg)
We’re also climbing to the tops of California’s iconic palm trees and learning about a scientist’s mission to save them from being eaten alive, talking to the new lead singer of a truly quintessential SoCal band, traveling to a town determined to preserve its stargazing, taking a trip to Channel Islands National Park, and stepping inside an improbable opera house in the desert.
Plus, we’ve got a massive, stunning visual smorgasbord of some of California’s most underrated destinations. Get your bucket list out—you’re going to want to make some additions. And I hope you’re hungry, because we’re also hitting the hottest new restaurant in Hillcrest and shouting out some of our favorite food finds this month around SD. This magazine is packed like a California rush-hour freeway.
We had fun putting this together for you, and we hope you enjoy exploring our golden state with us. We’re lucky to call this place home.
San Diego, CA
Padres notes: David Peralta and Mike Shildt’s St. Louis ties; Lake Bachar’s short trip
![Padres notes: David Peralta and Mike Shildt’s St. Louis ties; Lake Bachar’s short trip Padres notes: David Peralta and Mike Shildt’s St. Louis ties; Lake Bachar’s short trip](https://www.sandiegouniontribune.com/wp-content/uploads/2024/08/SUT-L-padres-0707-020.jpg?w=1024&h=686)
Before David Peralta was a big-leaguer, before he won a Silver Slugger in his Age 30 Season in 2018, he was a minor league pitcher working through two shoulder surgeries in the Cardinals system.
He recalls knowing that he was on borrowed time when he was called into an office in Jupiter, Fla.
The reason: He was being released.
The date: May 5, 2009. (“I don’t like Cinco De Mayo,” Peralta said with a laugh.)
The person across from a then 21-year-old Peralta: Mike Shildt.
The Padres’ current manager cut his teeth in baseball in the Cardinals system, was running extended spring training at the time and it was his job to be the messenger when the front office decided to cut Peralta lose.
“It’s a funny story, but I don’t think he likes this story and I don’t like it either,” Peralta said, still chuckling.
“He was more strict and he was doing it right,” Peralta said of what he remembered of Shildt from those extended spring training days with the Cardinals. “When you’re dealing with young kids, I was what 19 years old, 20 years, you want to be strict because you want to educate this young generation to become big leaguers. So he was very strict.”
Because Peralta said he didn’t speak much English at the time, Shildt kept the release meeting short. Peralta went on to play independent ball as a hitter, caught on with the Diamondbacks and made his MLB debut in 2014.
Two weeks after joining the Padres, Peralta relayed the story to Shildt and the two laughed over very different paths from St. Louis to San Diego.
“What I remember about him is, first of all, he’s just a tremendous young man, just a really, really conscientious, hard worker, very dedicated, just everything that you’d want,” Shildt recalled. “You pull for all of them, but you’re pulling like heck for this guy. You saw how hard he worked.”
Fifteen years later, Shildt is still pulling for a 37-year-old Peralta as the two make their way back to St. Louis for a four-game series.
“You know how crazy the world is,” Peralta said, “how crazy baseball is that we’re back together in the big leagues. It’s been fun.”
Notable
- RHP Randy Vásquez will be recalled to start Monday’s game in St. Louis. He’ll replace RHP Lake Bachar, who was optioned after Sunday’s game after serving as bullpen coverage for a single game (Bachar did not pitch). The last remaining player from the Padres’ 2016 draft class, Bachar has a 4.12 ERA over 67⅔ innings this year at Triple-A El Paso. He’s been a reliever since returning from Tommy John surgery in 2022. Bachar briefly replaced RHP Logan Gillaspie, who was optioned to El Paso on Sunday morning after throwing 44 pitches in appearing in two of the previous three games.
- INF Matthew Batten cleared waivers and has been outrighted to El Paso.
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