Chancellor's Autumn Statement
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30 Nov 2011
The Chancellor delivered his Autumn Statement to the House of Commons yesterday and showed once again that the Government does not understand the impact of its policies on children, parents, women and hard working families.
The Government’s failed economic policies are hitting families thanks to spending cuts which go too far and too fast. In the Rother Valley alone, 700 families are losing help with childcare, 10,700 families are seeing tax credits cut and 4,500 women are being affected by the accelerated state pension age.
Families know these policies are hurting, but now we’ve found out that they aren’t working either. The Government is set to borrow a staggering £158 billion more than they planned a year ago – the bill for the economic failure, higher unemployment and bigger benefits bill their failed plan has created.
Despite the pain of £40 billion more spending cuts and tax rises the Chancellor boasted about last year, the recovery he choked off and the higher unemployment he created means billions more borrowing for failure.