Budget 2014

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It is clear from today’s Budget that the Tory-led government does not understand the reality of ordinary people’s lives. It was a Budget for a privileged, wealthy few.

It did nothing to solve the cost of living crisis hitting families as bills for food, energy and childcare rise much faster than wages. Living standards have fallen 44 out of 45 months under David Cameron.

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There was no help for people stuck in zero-hour contracts or those working part-time because they can’t find full-time work.

No support for unemployed young people desperate to find a job.

No relief for disabled people hit by the pernicious bedroom tax.

The list goes on.

Changing the shape of the pound will not change the fact that working families are £1600 a year worse off under this government. 

Only Labour will deal with the cost-of-living crisis and create an economy that works for the many and not just a few.

Here's how a Labour Budget would tackle the cost-of-living crisis:

1. Freeze energy bills until 2017 and reform the energy market to stop customers being ripped off.

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2. Cut taxes for 24 million working people on low and middle incomes with a lower 10p starting rate of income tax.

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3. Make work pay by expanding free childcare to 25 hours a week for working parents of 3 and 4 year olds.

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4. Get young people into work, with a job the young unemployed have to take, paid for by tax on bank bonuses.

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5. Back small businesses by cutting business rates.

6. Balance the books in a fairer way by reversing Osborne's millionaires' tax cut.

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