David Cameron promised change, but nothing is changing. His government is failing to take action to tackle the problems in our economy and overcome the challenges we face.
Cameron’s economic vision is of a race to the bottom in wages and skills, rewarding those at the very top but leaving everyone else behind, squeezed as never before. The talents of millions of young people are going to waste and small businesses that drive our economy on are being held back by the banks and a government that isn’t on their side.
The perfect demonstration of where the Tories’ priorities lie will come in April when they will cut the taxes of 13,000 people earning over £1million by an average of £100,000, whilst also cutting the tax credits for millions of working families and refusing to stand up to the energy and train companies that are squeezing family budgets.
In the last two years we’ve had a flatlining economy and a growing deficit, demonstrating that Cameron’s approach simply doesn’t work. We need a new approach; one that will create prosperity by ensuring that everyone plays their part in building our economy.
Ed Miliband has this week outlined a fairer tax system that works for everyone.
As well as cancelling the millionaire’s tax cut and the slashing of working tax credits, Labour would introduce a mansion tax on homes worth over £2 million and use the money to cut taxes for working people on low and middle incomes, benefiting 2,750,000 basic rate taxpayers in the North West alone.
We also need to change the culture in our economy so that everyone knows when you play your part and contribute to the economy, you will be rewarded. This means tackling vested interests, improving vocational training and supporting businesses that create high-quality, sustainable, middle-income jobs.
These changes won’t happen under the Tories or their Lib Dem allies. Labour is the only party on the side of working people, and families in Tameside and Stockport will be among the millions to benefit from a new One Nation economy that works for working people.