Millions were asked to pay more so millionaires can pay less – my Daily Mirror article

Chancellor George Osborne used to say “we are all in this together”. Well, not any more.

Because yesterday he delivered a Budget where millions were asked to pay more, so millionaires can pay less. It was less Robin Hood and more Sheriff of Nottingham.

The choices this Tory-led Government is making prove it is totally out of touch with what life is like for people in our country.

When bills are going up for families on middle and low incomes – George Osborne has added to them all.

Fuel duty is going up this summer with petrol prices at a record high. He’s even added to the cost of a Greggs sausage roll.

And at the very same time the Budget yesterday gave a tax cut to the very richest people in our country.

Just 14,000 people earning £1million or more will get a boost of over £40,000 each year.

David Cameron and George Osborne could have used that money to cut fuel duty or reverse unfair and perverse cuts to tax credits – which will see thousands of working parents better off quitting work from next month.

They could have used the money to reduce the cuts to police forces across the country or to help pay the down the deficit.

Instead they chose to cut taxes for the 300,000 people earning over £150,000 – the richest 1%. How can this be the right priority now?

Whatever he says about increasing the income tax personal allowance, a family with children earning just £20,000 will still be left worse off by around £253 a year from this April.

And shockingly he slipped out a £3billion tax raid on pensioners over the next four years – a move quickly dubbed the “granny tax”.

Nearly four and a half million pensioners who pay income tax will lose an average of £83 per year next April. And people turning 65 next year will lose up to £322.

And all this comes from a Government with economic policies that have utterly failed on jobs, growth and the deficit.

There have to be tough decisions on tax, spending and pay. But we won’t get the deficit down unless we have a plan for jobs and growth and to get people off the dole and into work.

And that was the gaping hole in yesterday’s Budget. It wasn’t just unfair, it had no plan for jobs like Labour’s plan which includes a guaranteed job for every young person out of work for more than a year– fully funded by a tax on bank bonuses.

Instead in Tory Britain, a record one million young people are out of work. Our economy has stalled as America races ahead.

And this slower growth means the government is set to borrow an extra £150billion to pay for this economic failure.

George Osborne’s plan to raise taxes and cut spending too far and too fast has backfired. With his tax cut for millionaires, he is piling insult upon injury for millions of families and pensioners.

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Posted March 22nd, 2012 by Ed