Cost of the Conservatives - £1,170 cost of Rishi Sunak’s quadruple hammer blow to family finances
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Conservative attacks on household finances will leave British
families as much as £1,170 worse off next year, new analysis from
Labour reveals. Instead of acting to protect households at the
Budget earlier this month, Chancellor Rishi Sunak chose to hit
families up and down the country with a quadruple hammer blow to
their pockets. Rishi Sunak’s quadruple hammer blow includes: A
real-terms pay cut for NHS staff from April 2021. A hike of up to
5% in council tax...Request free trial
Conservative attacks on household finances will leave British families as much as £1,170 worse off next year, new analysis from Labour reveals. Instead of acting to protect households at the Budget earlier this month, Chancellor Rishi Sunak chose to hit families up and down the country with a quadruple hammer blow to their pockets. Rishi Sunak’s quadruple hammer blow includes:
According to Labour’s analysis, these changes will leave households across the country much worse off from next year. For example, a newly qualified nurse living with their partner and two children in an area where the local authority is planning to put council tax up by the maximum amount – such as Swindon – will lose £1,170 in income. Labour has branded Rishi Sunak’s attacks on family finances ‘economically illiterate’, warning that they risk slowing Britain’s recovery by forcing people to tighten their belts and pulling spending out of the economy. The Conservatives handed over 4 million key workers a real-terms pay cut at the Budget. Labour has also pledged to protect the NHS by rewarding frontline staff with the fair, long-term pay deal they deserve, and called on the Government to reverse its decision to cut pay for police officers, teachers, members of the armed forces and other key workers. Anneliese Dodds MP, Labour’s Shadow Chancellor, said: “Rishi Sunak’s mask slipped at the Budget. Instead of protecting Britain’s families during a pandemic, he hit them with a quadruple hammer blow to their pockets that will leave them over £1,000 worse off next year. “That’s not just wrong – it’s economically illiterate. If families have less money to spend, then businesses will suffer and the recovery will take longer. “That’s the cost of the Conservatives – and it’s why the elections in May are a very clear choice: a vote for Labour to secure our economy and protect our NHS and against Tory attacks on family finances.” Ends Notes to editors
https://www.longtermplan.nhs.uk/
o Personal allowance: The table below sets out a counterfactual, based on the Office for Budget Responsibility’s March 2021 inflation forecast. The analysis compares the government approach of a freeze in 2022/23 with an alternative where the personal allowance rises as in the table below, in line with inflation, to £12,780 in 2022/23
o The Secretary of State for Work and Pensions is required by section 150(1) of the Social Security Administration Act 1992 as amended to review the level of benefits each year and then to table a draft uprating order setting out the amounts by which benefits are to be increased as of the start of the next tax year o The draft uprating order must increase the level of certain benefits specified in the Act by at least the rise in the level of prices. o The normal reference month for assessing inflation is the September preceding the new financial year. Since 2011 the inflation measure used by default is the Consumer Prices Index (CPI) o The default budgetary assumption is that work allowances also increase in line with CPI inflation
Median rents - https://www.home.co.uk/for_rent/swindon/current_rents?location=swindon Local housing allowance - https://www.swindon.gov.uk/info/20013/benefits_and_swindon_money_matters/117/local_housing_allowance_for_private_tenants Council tax - https://www.swindon.gov.uk/directory_record/23026/west_swindonhttps://www.swindon.gov.uk/info/20020/council_tax/273/annual_report_202122/5
Public sector pay
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