Andrew Gwynne MP has attacked the Government during a parliamentary debate on the economy for not doing enough to help ordinary working people in Denton and Reddish.
During the debate he outlined how the recent budget just offered more of the same on economic policy with no change on anything important, whilst at the same time the Chancellor was going ahead with a tax cut for millionaires.
Labour have previously outlined that a change of direction is needed and bold action to kickstart the flatlining economy is required to give real help to families on middle and low incomes – not more of the same failing policies and a huge tax cut for millionaires.
Andrew Gwynne MP said:
“It’s clear this Tory-led government’s economic plan has completely failed and it’s families, pensioners and businesses in Denton and Reddish are paying the price.”
“With prices still rising much faster than wages the squeeze on people on middle and low incomes continues. And now people will be worse off in 2015 than when David Cameron entered Downing Street.”
“They government should really do more to help working people here in Denton and Reddish. They should look more widely at the effect on families of other expenses such as increasing fuel prices, increasing transport costs, and interest payments on payday loans.”
“Because on top of rising food prices and soaring energy bills, the average family is £891 worse off this year because of tax and benefit changes since 2010. Millions are paying more as VAT is higher and tax credits are cut, while millionaires get an average tax cut of £100,000.”
“We need urgent action to kickstart our flatlining economy and help people struggling with the rising cost of living. The Budget should have invested in building affordable homes, cancelled the tax cut for millionaires and brought in a lower 10p starting rate of tax, funded by a mansion tax on homes worth over £2m. The government needs to realise that a strong and sustained recovery can only be made by the many, not just a few at the top.”
Recent figures have shown that growth will be lower than previously forecast this year and next year, the result of that economic failure is that the Government’s fiscal plans are in tatters – borrowing is set to be £245 billion more than planned; the Government’s promise to balance the books by 2015 will not be met and the national debt will not now be falling until 2017/18.
Similarly unemployment is rising, according to figures out in the budget prices are rising faster than wages and the Office for Budget Responsibility has confirmed that by 2015 people will be worse off than they were in 2010.