Alex Cunningham has directly challenged the Prime Minister in the House of Commons for backing the rich whilst others suffer a real loss in the value of their incomes.
Labour’s Stockton North MP, speaking at Prime Minister’s Questions for the second week running, used this opportunity to remind the Leader of the Conservative Party of the promises he made before the 2010 General Election and highlight how his attempts to fulfil them have failed miserably.
“The Prime Minister once said that he wanted to see ‘rising living standards for all, not just rewards for those in high finance. Why, then, are real wages down by more than £1,600, while bank bonuses are up by 83%?”
In response, the Prime Minister pointed to the Coalition’s policy that has raised the income tax threshold, as well as steps to freeze council tax and various other measures to help with families’ income.
Following Prime Minister’s Questions, Alex said:
“Britain’s families are facing the most sustained cost of living crisis since 1870. With prices rising faster than wages for 40 of the last 41 months, millions of families are finding it harder than ever to make ends meet and most are not witnessing any recovery at all.
“We need action in the Autumn Statement next Thursday to ensure economic recovery delivers rising living standards for all, as well as being balanced and built to last. At the time of the Spending Review, the Office for Budget Responsibility forecast growth of 7.7% by now. Instead, our economy has grown by just 2.6% and we are living through the slowest recovery for a century.
“While ordinary people are seeing their living standards squeezed, David Cameron cut income tax for those earning over £150,000. At the same time, bankers’ bonuses soared by 83% as the wealthiest took advantage of the 50p tax cut in April, while thousands are having to foot council tax bills for the first time.
“Labour, on the other hand, has promised to fight for hard working families around the country and has committed to an energy price freeze, a compulsory jobs guarantee for young-people and the long-term unemployed, an extension of free childcare for working parents, and to abolish the Bedroom Tax.”