Shadow Chancellor Rachel Reeves on how Boris Johnson’s government and ishi Sunak’s budget leave working people paying more for less for three reasons – economic mismanagement, an unfair tax system and wasteful spending
We needed a Budget for a secure economy. Instead, we got a Chancellor disconnected from the reality of a growing cost of living crisis.
As energy bills soar, the Chancellor piled the biggest tax burden in peacetime on working people.
As businesses on our high streets are held back by outdated business rates, the Chancellor gave bankers a tax cut.
A decade of sluggish growth. Public services cut to the bone. Billions of pounds of taxpayer money wasted. But still, no plan to boost our economy.
The Government will always blame others for its failures. But the reality is that working people are paying more for less for three simple reasons.
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Economic mismanagement. An unfair tax system. And wasteful spending.
Our country deserves better.
But they’ll never get it under a Chancellor who gives with one hand, but takes so much more with the other. People are getting wise to this.
Every month they feel the pinch. They are tired of the smoke and mirrors, of the bluster, of the false dawns, of the promises of jam tomorrow.
Use our autumn Budget tax calculator to see how it will impact your money –
The solution starts with growth. Labour would put working people first.
The Government is caught in a bind of its own making. Low growth leads to less money for public services, unless taxes rise.
Labour would use the power of government and business to create the next generation of quality jobs right here, in Britain.
We’d tax fairly, spend wisely and after a decade of faltering growth, we’d get Britain’s economy firing on all cylinders.
That is what a Labour budget would have done today.