Listening to David Cameron last Wednesday you might be left with the impression that the economy has been fixed and that life is getting easier for most people. In fact, nothing could be further from the truth
Under the Tories and Liberals working people are £1,600 a year worse off. Just think about it – when did you last get a pay-rise? The Tories are now trying to con people into another five years of misery by unfunded pie in the sky pre-election tax cuts promised for six years time..
David Cameron in 2008 said “You can’t talk about tax reduction unless you can show how it is paid for, the public aren’t stupid”. But’s that’s exactly what he did on Wednesday.
These “tax cuts” are an unfunded spending commitment of over £7billion, hardly spare cash.
How are the Tories going to pay for it? We can only assume that they will yet again hit the poorest hardest, we are sure to see yet further attacks on public services, Fire, Police Health and Councils.
The only thing we have learnt for sure this week from the Tories is that they’re going to cut tax credits for millions of hard working people. This announcement on Monday means that a one earner family with two children on £25,000 a year will lose £495 by 2017/18.
So while working families see their incomes decrease, Wednesday’s announcements means that the Prime Minister and Cabinet Minister will see their incomes increase by 2020/21. And let’s not forget that the richest one per cent will keep a £3billion tax cut. This doesn’t look like “we’re all in this together” to me.
And if there is one decision taken by the Tories that tells us all we need to know about their priorities and who they stand for, then their tax cut for millionaires is it.
Labour will balance the books as soon as possible in the next Parliament, but we will make fairer choices. A Labour Government would cut taxes for millions on middle and low incomes with a lower 10p starting rate of tax and reintroduce a top rate of 50p for those earning over £150,000.
The truth is that the Tories will never build a better future for working people because they stand up only for a privileged few.
The truth is that working people cannot afford five more years of David Cameron.