Michael has criticised the Autumn Statement today after it failed to set-out a fairer plan to deliver a recovery that works for the many and not just a few.
Delivering what is his final Autumn Statement before the election, George Osborne spoke of how the cost-of-living crisis is over and that the economy is fixed. However, in reality this is far from the truth.
They promised living standards would rise, but people in Barnsley are £1,600 a year worse off under the Tories and the number of full-time workers having decreased by 3,400. People in Barnsley and all across the country are not feeling the benefits of the recovery.
George Osborne promised to balance the books by next year but as new figures released this week show, a combination of lower tax receipts and higher benefit spending has led to higher borrowing and the Tories breaking their promise. This means Labour would inherit a large deficit as a result.
Ed Balls made clear in his response, a Labour Autumn Statement would set out a better and fairer plan to deliver a recovery that works for the many and not just a few. Including:
- Making work pay – raising the minimum wage and expanding free childcare for working parents
- Transforming our National Health Service with a fully-funded long-term plan - raising an extra £2.5 billion a year to deliver 20,000 more nurses and 8,000 more GPs
- Balancing the books in a fairer way by reversing the tax cut for millionaires
- Tackling the housing crisis by building more homes
- Cutting business rates for small firms.
Commenting, Michael said, “David Cameron and George Osborne have now failed every test and broken every promise they made on the economy. They try to claim that the cost-of-living crisis is over and our economy is fixed, but the reality is that this is a recovery for the few, not the many.
“People in Barnsley are worse off under the Tories, with wages that continue to stagnate and full-time work opportunities down. A Labour Autumn Statement would balance the books in a fairer way, starting by reversing the £3 billion a year tax cut for the top one per cent of earners.”