Dr Kieran Mullan MP has criticised Rachel Reeves and the Labour Government for delivering a Budget that breaks promises, raises taxes, and leaves the British public paying the price for Labour’s economic failure.
Rachel Reeves’ Budget, announced on 26 November, places a historic tax burden on working people at 38.8 per cent of GDP. Labour’s plans add an additional £26 billion of taxes on taxpayers at a time when inflation is forecast to rise next year, and economic growth has been revised down in every year of the forecast.
Further, the OBR has confirmed that this Budget will increase borrowing by £11 billion, with the Government forecast to borrow every year from 2025-26 to 2028-29.
Dr Mullan said:
“This Budget is all the wrong choices at the wrong time. Families are already struggling with the cost of living, yet Labour have chosen to make life even more expensive while failing to deliver a plan for growth.
“It abandons economic growth, which is falling in every year of the forecast, and raises taxes to cover Labour’s ever-increasing spending on welfare. This is a Benefits Budget, paid for by hardworking people.
“The lack of leadership by the Chancellor to take hard choices earlier this year and introduce welfare reforms means that taxpayers are now picking up the bill.”
The Conservative Party has made it clear that there was a better approach. By responsibly controlling spending, including tackling rapidly increasing welfare costs, Labour could have eased the tax burden and helped grow the economy. Instead, the Government has expanded the size of the state while expecting hardworking people to pay more and get less in return.
Meanwhile, Labour’s mismanagement of migration continues to impose mounting costs on the taxpayer. Budget figures now show that asylum accommodation costs are set to reach £15.3 billion over the next decade – triple the previously forecast £4.5 billion.
Kieran added:
“Labour is losing control of migration and piling billions onto the public bill. They are asking the British people to pay for their failure.
“The Conservative Party remains the only party with a credible plan to get Britain working again, grow the economy responsibly, reduce the tax burden, and restore control over migration.
“We will break Labour’s doom loop with our Golden Economic Rule and a plan to save £47 billion. Under this rule, for every pound saved, at least half will go to cutting the deficit, with the remainder used to get our economy moving.
“We will deliver this by cutting welfare spending to save £23 billion; reducing the size of the Civil Service to save £8 billion; cutting spending on social housing for foreign nationals to save £3.9 billion; reducing the cost of the asylum system to save £3.5 billion; abolishing Net Zero schemes to save £1.6 billion; and cutting overseas aid by £7 billion.
“Only the Conservatives have a clear and responsible plan for a more secure and prosperous future.”
