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Economy Matters

Economy Matters

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Labour Party

Labour Party

Times are really tough for people at the moment. There are millions of families across Britain who now face a Cost of Living Crisis because of the reckless economic policies of the Tory-led Government. 

  • Rising costs of everyday essentials aren’t helped by the increase in VAT, which is costing families with children £450 a year, and the failure of wages to keep up with inflation. 
  • Energy companies are hiking up gas and electricity prices while ministers sit on their hands.
  • Travel costs are soaring because of the Government’s decision to raise the cap on rail fare increases, combined with the rising cost of petrol, inflated by the VAT hike. 
  • Childcare support through the working tax credit has been cut, costing families up to £1,500 a year.
  • High unemployment and a stagnant economy are compounding the problem.

Labour stands side by side with families who are feeling the pressure right now. We are calling on the Tory-led Government to:

  • Temporarily reverse the VAT rise which is costing families with children £450 per year.
  • Repeat the bank bonus tax and use the funds to help get young people off the dole and into work.

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