This year’s Autumn Statement was long-awaited, but I doubt it took even five minutes for people to see through it.
The Chancellor turned up to talk about growth, but then had to downgrade the growth forecast.
He then tried to sell a cut in National Insurance. But people aren’t fooled. They can see that they are worse off under this government, paying more tax.
As Labour’s Rachel Reeves said in her response to the Chancellor, working people will be paying more taxes at the end of this Parliament than they were at the start. High inflation and frozen allowances are the equivalent of a 10p increase National Insurance – the 2p cut is nowhere near it.
The tax burden is at its highest post-war level, thanks to 13 years of Tory mismanagement. That leaves an average family £4,000 a year worse off, with 25 Tory tax rises since 2019.
What’s more, that’s before you factor in that people are facing higher mortgage payments or rent under this government. Whatever the Chancellor claims, people can see it in their bank balances.
The Office of Budget Responsibility figures show that the cost of living squeeze just continues under the Tories.
Rachel Reeves’ alternative plan proves that we can get Britain’s future back by making better decisions. If she was Chancellor, she would save you and your family money by taking five immediate decisions.
Firstly, by insulating homes to cut energy bills by an average of £500 per year. Second, by creating Great British Energy to deliver cheaper bills, saving families an average of £900. Third, by cracking down on unfair car insurance premiums saving families an average of £400. Fourthly, by building 1.5 million homes, delivering homes for families and reducing mortgage bills by £1,200. And, lastly, by introducing a new fiscal lock, so never again can a Prime Minister like Liz Truss force through uncosted and unfunded spending commitments.
The government simply can’t deliver the change Britain needs. The Autumn Statement showed that 13 years of Tories have left growth down, with mortgages, prices, taxes and debt all up. It’s time for a Labour Government with a plan to make working people better off.
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