Last week, George Osborne delivered his last ‘Autumn Statement’ financial update before the next General Election.
In my view it’s clear now that he and David Cameron have broken every promise they’ve made on the economy, and it’s people here who are paying the price.
They promised we’d be all in this together, but then they gave millionaires a huge tax cut.
They promised people would be better off but most people across Nottinghamshire are not feeling the recovery – in fact working people are now £1,600 a year worse off under the Tories.
And because wages aren’t rising and too many are stuck in low-paid jobs, the tax revenues we need to get the deficit down aren’t coming in.
The Tories just don’t get the link between the living standards of everyday working people and Britain’s ability to deal with the deficit.
George Osborne has now borrowed a staggering £219 billion more than he planned and the economy is set to slow down next year after forecasts for wages have been revised down again.
Yet the Chancellor still tries to claim the economy is fixed and his plan is working.
How out of touch can you get?
What we needed last week was the better and fairer plan Labour has set out.
Labour’s plan will raise the minimum wage, expand free childcare for working parents, scrap the bedroom tax and cut business rates for small firms.
We will balance the books in a fairer way, starting by reversing the Tories’ £3 billion a year tax cut for the top 1% of earners.
The Tories promised to eliminate the deficit by 2015 but with less money coming in because of the economic decisions voted through MPs they’ve broken their promise, failed their own economic test and its hardworking people here who are paying the price.
It’s time for an economic recovery for the many, not just a few.