Rather than uncapping bankers’ bonuses, I want to see a better deal for working people and small businesses in this week’s Autumn Statement.
For a start, the £20 per week or £1,000 per year cut from Universal Credit should be reinstated.
What better way to put money in the economy and support the vulnerable? And don’t forget, 40 per cent on UC are in employment.
I also want public sector workers, like the nurses who got us through the pandemic, properly rewarded so they don’t have to turn to food banks.
Energy bill support for hospitality and public services, including schools, was only forthcoming after lobbying from myself and other MPs. But people in those sectors say six months’ assistance is not enough.
And while astronomical rises might have been reduced by 40 per cent for that temporary period, it’s still a massive increase.
Readers will be aware of long-established Northwich firms going bust in recent months, often citing energy bills as a huge pressure on the back of Covid. So, I’d like to see targeted and sustained support for businesses.
People might ask; how do we pay for this?
What we need is a comprehensive windfall tax on the oil and gas giants enjoying unexpected excess profits.
That’s the kind of intervention I support if we are to protect people from inflation. What won’t help is ratcheting up interest rates, leading to higher mortgage repayments for my Northwich constituents.
On that, there needs to be targeted support particularly for first time buyers and those coming to the end of fixed deals - about 4 million people.
From the Tories, we once again hear talk of austerity to fill the financial blackhole they created. But billions have already been chopped from budgets. There’s no fat to trim in our schools, hospitals and local councils.
And it would be counterproductive. All we’d get would be a deeper recession with people losing their jobs, a rising benefits bill and less spending in the economy.
Instead, those with the broadest shoulders - not only wealthy individuals but corporations with interesting off-shore tax arrangements – must pay their fair share.
Under the Conservatives, we’ve had 12 years of failure with the UK economy performing worse than other major nations.
Labour would restore stability with a fully-funded growth plan – led by real investment to secure the green jobs of the future.
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