On Monday (27 November), I responded to the Government’s Autumn Statement in the House of Commons.
After 13 years of economic failure, working people are worse off. Prices are still rising in the shops, energy bills are up and mortgage payments are higher after the Government crashed the economy.
From freezing personal allowance thresholds to forcing local councils to raise council tax, working people have been taxed more and more by stealth. Households are paying £4,000 more in tax each year than they did in 2010. Taxes are the highest they have been since the Second World War. This is the Government’s record.
Just last year, the Government increased National Insurance. I voted against that because I did not think it was right to increase taxes on working people during a cost-of-living crisis. This Autumn Statement announces that National Insurance will be cut. While I welcome this, it will be little consolation to the many people who are finding the weekly shop increasingly stressful. In the last two years, prices have risen by 16% and food bills by 28%.
Going into this Autumn Statement, the Government had already put in place tax increases worth the equivalent of a 10p increase on National Insurance. Today’s 2p cut will not remotely compensate for the tax increases already put in place by this Government.
The independent Office for Budget Responsibility has said that next year is set to see the largest reduction in living standards since records began in the 1950s. People will rightly be asking: am I better off after 13 years of this Government?