Abrahams hits at ‘failing’ Government
Date published: 06 December 2012
Oldham MP Debbie Abrahams has criticised the Chancellor’s autumn statement and his Government’s failing economic policies.
In his autumn statement, Chancellor George Osborne said austerity measures will be extended for a further year to 2018, and he announced a £3.7 billion squeeze on welfare and a £1 billion raid on the pensions of the wealthy.
But he also scrapped a planned 3p–a–litre rise in fuel duty in January, cut corporation tax by one per cent and revised tax thresholds to take earnings below £9,440 out of income tax altogether.
Oldham East and Saddleworth Labour MP Abrahams said: “David Cameron and George Osborne’s economic policies are not working. They’re failing on jobs, growth and the deficit and they know it.
“Raising taxes and cutting spending too far and too fast has backfired.
“The price of this Government’s economic failure is being paid for by people on middle and low incomes who are being asked to pay more, while millionaires get a £3bn tax cut!
“All we got today was more of the same failing policies. The Chancellor is guilty of a dreadful example of creative accounting when he says the Government’s borrowing is forecast to fall this year. What he’s really done is added in the money the 4G mobile spectrum auction might make to this year’s figures.”
Without that £3.5billion expectation, borrowing would be around £2billion higher than last year.
“The lowest paid 10 per cent of the population will be losing about £200 a year. All of these measures will simply lead to further increases in child poverty and hard working families living in poverty too.”
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