In Oldham and across the country ordinary, hard working families are struggling to get by and yet the Chancellor’s big budget announcement yesterday is that he is cutting taxes for those earning over £150,000 a year; the richest 1% of the population!
This is a regressive, millionaires’ budget which just shows how out of touch this Tory-led coalition government actually is.
An example of how this budget fails the ‘fairness test’ is that 4.4 million pensioners will pay more income tax in 2013 to 2014 compared to 2012 to 2013. And 230,000 of these pensioners will pay income tax for the first time and half of them will be women which is why this is being already being referred to as the ‘granny tax’.
The government’s economic plan is failing and, as Oldham’s long-term youth unemployment has increased by 137% in the last year and overall unemployment is over 3500, Mr Osbourne has taken no action to get jobs and growth moving. Labour’s five point plan does tackle these issues and includes a tax on bankers’ bonuses to fund 100,000 youth jobs and a tax break for small firms taking on extra workers to help get Britain back to work.
Ed Miliband is right to say that this government is making the wrong choices; has the wrong priorities; the wrong values and is dominated by the same old Tories.