Cost Of Living Crisis

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07 Aug 2013

The full scale of the cost of living crisis facing families in our area was revealed this week.

An analysis of figures from the Office for National Statistics shows prices have risen faster than wages in 36 out of the 37 months that David Cameron has been in Downing Street. No Prime Minister since records began comes close to this dubious record.

In the one month that wages rose faster than prices, April this year, it was because bank bonuses soared to take advantage of this Government’s tax cut for millionaires.

Analysis of Office for Budget Responsibility forecasts by the House of Commons Library shows that, after inflation, wages are forecast to be £1,520 lower in 2015 than in 2010. That means that working people will, on average, have lost a total of £6,660 in real terms while David Cameron has been Prime Minister.

I would like to see families helped right now with a lower 10p starting rate of tax, which would benefit 1.95 million people in Yorkshire & the Humber. I would also like to see action to tackle the energy bills that just seem to keep on going up by forcing the big energy companies to use their profits to keep bills down. Rather than giving millionaires a tax cut, tax credits that help working families to make ends meet should be protected instead of slashed.

It’s time for the Prime Minister to wake up and adopt a plan to help working people, not keep filling the pockets of those at the top.