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Worse Off Under The Tories

Today’s Budget proved that you’re worse off under the Tories with no action to deal with the cost-of-living crisis. 
 
The Chancellor boasted about how well things were going, but it was totally out of touch with hardworking people facing a cost-of-living crisis. We need a recovery for the many, not just a few at the top.
  • Wages are down £1,600 a year since David Cameron became Prime Minister.
  • The OBR confirmed that people will be worse off in 2015 than they were in 2010.
  • They talk about the personal allowance but forget the 24 Tory tax rises introduced by George Osborne.
  • Energy bills are up almost £300 since the election.
  • George Osborne has overseen the slowest recovery for 100 years, and is forecast to borrow over £180 billion more than planned.
 
David Cameron and George Osborne can’t deliver a recovery for the many because they stand up for a privileged few.
 
  • They cut the top rate of tax for people earning over £150,000, while everyone else is worse off.
  • Bank bonuses are rising again, even though businesses still can’t get the finance they need.
  • Since George Osborne boasted about a "march of the makers", manufacturing, construction, infrastructure investment are all down. Exports are falling not rising.
  • Even Michael Gove says that the number of Old Etonians in the Prime Minister’s inner circle is “ridiculous” and “preposterous”.
 
Britain can do better than this. Britain needs a Labour Government to:
 
  • Freeze energy bills until 2017 and reform the broken energy market.
  • Put young people back to work, with a job the young unemployed have to take – paid for by a tax on bank bonuses
  • Expand free childcare for working parents to 25 hours a week for 3 and 4 year olds
  • Cut taxes for 24 million working people on middle and low incomes with a lower 10p starting rate of income tax
  • Cut business rates for small firms and a plan to get 200,000 homes built a year by 2020
  • Balance the books in the next Parliament, in a fairer way including reversing the £3 billion tax cut for people earning over £150,000.
 
The Budget announced a package for pensioners. Help for savers is welcome and we’ll look at the details but:
 
  • People will not forget the Granny Tax.
  • The Budget failed to cap pension fees and charges which leave pensioners paying up to £230,000 over their lifetimes.

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