WHILE Warrington South MP Andy Carter has welcomed announcements in last week’s Autumn Statement his counterpart Charlotte Nichols says it has done nothing to substantially support households in Warrington North with the Cost of Living crisis.
Mr Carter (Con) has welcomed the announcements in which the Chancellor outlined the UK’s economic forecast and the fiscal measures he will take over the coming months.
With the recent fall in inflation to 4.6% meeting the Prime Minister’s commitment to halve inflation by the end of the year, the Chancellor confirmed that he had the headroom to deliver tax cuts for workers and businesses designed to encourage growth and investment.
The headline measures included the decision to cut National Insurance Contributions from 12 per cent to 10 per cent as soon as January, while the Triple Lock has been maintained meaning the state pension will increase by 8.5 per cent, £3,750 higher than it was in 2010. Also announced was that taxes on business will be reduced by £ 11 billion, the freeze in alcohol has been maintained and the National Living Wage is set to increase to £11.44 an hour.
Mr Carter said:“I welcome the Chancellor’s announcements that will put more money in working people’s pockets. Inflation remains the biggest threat to living standards and the Autumn Statement reflects the importance of controlling inflation but at the same time brings welcome relief to families and businesses in Warrington South.
“The Autumn Statement balanced sensible conservatism with building a stronger and more resilient economy. The National Insurance rate cut to 10 per cent will mean a family with two average salaries will be around £900 better off each year. Businesses received the biggest permanent tax cut in modern British history through the permanent extension of Full Expensing to boost further investment, alongside a freeze in the business rate multiplier for small businesses for the fourth consecutive year. An extension to the Retail, Hospitality and Leisure relief meaning a typical pub in Warrington with a rateable value of £31,600 will get around £11,800 off their final business rates bill.
“It’s right that we support those who’ve worked and paid tax their entire life so, I’m pleased to see the Chancellor confirm we will maintain the Triple Lock and uprate the basic rate pension, the new state pension and pension credit by 8.5% in April 2024. We’re also tackling the problem of long-term sick in the UK and getting more people into work, increasing the National Living Wage to £11.44 an hour, and uprating all working-age benefits above current inflation levels. This is in stark contrast to Labour’s reluctance to take long-term decisions on the economy, and their £28billion borrowing commitment which will only drive inflation up and ensure interest rates spiral.”
But in contrast, Ms Nichols (Labour) says the Independent Office for Budget Responsibility (OBR) has reported that the United Kingdom is set to experience the largest reduction in living standards since records began in the 1950s.
Living standards, measured by real household disposable income per person, are forecasted by the OBR to be 3.5% lower in 2024-25 compared to pre-pandemic levels, meaning households will have less money to spend on goods and services.
The OBR, which operates independently from the Government issues two economic forecasts annually.
Ms Nichols says households in Warrington are grappling with rising costs due to high inflation, increasing mortgage and rent expenses, escalating energy prices, and soaring food costs.
Recently, the Bank of England announced that the economy is unlikely to grow in 2024 and 2025, predicting national debt to continue rising. Moreover, while the Government reported a slight drop in overall inflation, this does not equal a reduction in prices but rather a marginally slower rate of increase.
In another blow to households, mortgage costs have continued to rise over the past year, with the Bank of England raising interest rates to a 15-year high of 5.25%, further increasing household bills.
Adding to these challenges, Ofgem, the energy regulator, has announced another 5% increase in energy bill price caps.
The Office for National Statistics also revealed that food and drink prices rose by 10.1% in October, meaning continued pressure on households in Warrington.
Ms Nichols said: “I welcome any measures that will support my constituents, unfortunately, the Chancellors Autumn Statement doesn’t do anything to substantially support households in Warrington North with the Cost of Living crisis.
“But I’d ask my constituents, do you feel better off after 13 years of the Conservatives?
“Mortgages are up, prices are up, taxes are up, and national debt is up. Working people are worse off under the Conservatives.
“The Conservatives have been reckless with the economy, and hardworking families in Warrington North are feeling the impact of their negligent, damaging, and costly decisions.
“What is clear, is that nobody can trust the Conservatives with the economy. They have lost £7.2 billion of public money to fraud during the pandemic and they have written off £8.7 billion of PPE.
“There have been 25 tax rises in this parliament alone, and the tax burden is the highest since the Second World War.
“The Conservatives continue to take money away from or underfund public services, services my constituents rely on every day.
“The Autumn Statement did not include additional funding for children in care, nor did it include funding for children with Special Educational Needs and Disabilities (SEND).
“And sadly, it provides no new investment for adult social care.
“Wages are stagnating, the economy is barely growing and hardworking families in Warrington north of feeling the brunt of the Conservative cost of living crisis.
“Labour will tackle the cost of living crisis and grow our economy, prioritising plans to boost wages.
“Labour will invest in clean energy, meaning cheaper household bills.
“Labour will build much-needed homes, growing our economy and giving people a place to live.
“Labour will cut NHS waiting lists, helping people to get better and supporting people to go back to work.
1 Comment
Hardly surprising residents of Warrington north get no assistance or support when their locally elected MP does NOTHING for them too