Responding to today’s Budget Statement, Alex said:
“The Chancellor of the Exchequer was today true to his word – he said he’d slash tax credits for working parents and he’s delivered precisely that, seizing a large slice of their income.
“His claim is that changes to the tax system will help families, but vast numbers earn much less than the current £10,600 personal allowance and will get nothing from George Osborne in this Budget. And, at the same time, he is loading students from the poorest households with more debt by scrapping maintenance grants, while rents are going up for hundreds of thousands of people across the country.
“The Chancellor has also kept his promises to the better-off who will now benefit from £1 million free from inheritance tax, a higher threshold for those paying the higher rate of income tax, and more tax-free income for people fortunate enough to have high levels of savings.
“Meanwhile, at a time when public sector workers are already reeling from years of pay restraint, the Tories have imposed yet another disgraceful pay limit. There will be no way for public sector workers who claim Working Tax Credit to make up the money cut from their income as the Chancellor won’t let their employers pay more.
“The increase to the minimum wage is to be welcomed, but this is no consolation for the under-25s who won’t qualify and won’t even get help if they are homeless.
“The Chancellor spoke of a One Nation budget but only delivered for the better-off whilst again expecting the working poor to pay for it.”