Andrew Gwynne MP said:
“This is a smoke and mirrors Spending Review which still leaves working people worse off and fails to address the big challenges facing the country.
“George Osborne has been forced to bow to Labour pressure on his unfair tax credits but his u-turn still leaves working people worse off. He is still taking £1 billion from working families next year and over £3 billion by the end of the Parliament.
“Once again, he has failed on his deficit reduction target. In 2010 he said the deficit would be eradicated this year, but he is less than halfway. The deficit for 2015-16 is forecast by the OBR to be £73.5 billion.
“A Labour Government will deal with the deficit and secure the high-tech, high wage economy of the future. A Labour Government would balance the current budget while retaining the flexibility to invest in order to deliver world-class infrastructure.”