During the election, Labour ruled out tax hikes for working people. They did so over 50 times.
They ruled out changing the debt target in their fiscal rules to allow more borrowing, describing such a move as 'fiddling the figures'.
They spent the election campaign pretending that their party had changed. But today the disguise came off. And people are horrified by the trick Labour have played on them.
In the Budget the Chancellor has hiked taxes on working people.
Rachel Reeves has increased National Insurance, which experts say will hammer working people. In her own words, it's a tax on jobs, and will make it harder for businesses to hire staff and increase pay.
She's hiked Capital Gains Tax, hitting working people with assets and investments to supplement their retirement.
She's hiked stamp duty, hitting working people looking to move for work or for starting a family.
She's fiddled the figures to allow tens of billions more borrowing every year. Pushing up interest rates and meaning misery for millions of mortgage holders.
And she’s confirmed a cold cruel winter for millions of pensioners by proceeding with cuts to Winter Fuel Payments.
Dr Ben Spencer MP for Runnymede & Weybridge commented:
"Overall the Budget strikes me as a missed opportunity for real innovation to boost growth and prosperity. The Independent Office for Budget Responsibility highlights the £40bn in tax rises and cuts announced will 'leave GDP largely unchanged in five years', and the Chancellor herself has admitted that increased costs to employers will likely result in lower pay for workers.
"I believe the best people to deliver growth, which in turn delivers investment in public services, are businesses. The State's role is to facilitate, to incentivise investment and ensure the UK is attractive to large businesses, and supportive to small business and start ups. It is clear the burdens on business announced yesterday will stifle growth and investment, increasing both costs and regulations for businesses of all sizes.
"Households too will feel the pain from this Budget, which will see employers National Insurance rising, Capital Gains Tax rising, inheritance tax rules expanded, VAT on private school fees introduced in January, alcohol duty rising, savings thresholds frozen, car tax rising, air passenger duty rising, universal winter fuel payments scrapped, and more.
"On cuts, Defence spending is to increase by less than our annual commitment to Ukraine. While I fully support Ukraine and the Government's position in support, it cannot be right that this will mean a real terms cut to wider defence spending at a time of heightened international tension and instability.
"And while I welcome the announcements regarding greater investment and funding for education, I have significant concerns over the detail of SEN funding announced, and have written to the Chancellor for urgent clarification.
"During the election this Government promised Britain it would deliver growth, and not raise taxes on working people. I believe very few people will consider these not to have been broken in light of the announcements in this Budget."
