We had several votes on the Chancellor’s Autumn Statement this week as the Tories pushed through a number of economic measures.
We can all see the consequences of the Tories’ failed economic policies. The mess we are in is the result of 12 years of Conservative economic failure, and yet again they have loaded the cost onto working people. The Finance Bill fails to make fairer choices on tax, and it follows an Autumn statement that failed to set out a plan to grow the economy.
In the Bill, the Tories introduced new stealth tax rises, turning the screw on working people. Meanwhile, the OBR has said that as a result of the choices the Tories are making living standards are going to be worse at the end of this parliament than at the start – the biggest fall on record.
That’s why I voted for an amendment that would have required the Chancellor to publish an assessment of the estimated revenue from the energy profit levy – because the Government can and should be raising funds from the excess profits of oil giants rather than increasing taxes on ordinary people. I also voted against the freeze to the basic rate limit and personal allowances – which would amount to a stealth tax on lower-income households. Lastly, I voted to abolish non-dom status.
Unfortunately, the Government voted against these sensible measures and pushed through their plans for Austerity 2.0 which look set to entrench the economic failure which has become the hallmark of this Tory Government.
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