News

Budget for the few not the many

(March 26, 2012)

Last week the Chancellor of the Exchequer George Osborne announced the Governments Budget.

The headline announcements were a cut in the top rate of tax from 50p to 45p and a stealth tax on pensioners.

MH BD

14,000 people earning £1 million or more are getting a tax cut of over £40,000 each year. This Budget includes a £3 billion tax raid on pensioners over the next four years. The freeze in the personal allowance for pensioners will see 4.4 million pensioners who pay income tax losing an average of £83 per year next April. People who turn 65 next year will lose most – up to £322.

Mark said "The Government should be ashamed at their attack on pensioners. Instead of dealing with the jobs and growth crisis in our country they have attacked pensioners and hardworking families whilst handing out a tax cut to millionaires.

"The people of Preston deserve better, we have seen long term youth unemployment triple in the last year. The impact of the Tory-led Government’s austerity measures is plain to see: with rising prices, squeezed living standards and soaring unemployment, this is a return to the Thatcher years of the 1980's."

Mark gave a speech in the Budget day debate 

The full text can be found here and the video here (Mark is on at 54mins 20secs)  

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