3rd December 2014
George Osborne has delivered his Autumn Statement in which he has revealed the scale of his failings. The Chancellor staked his reputation on eradicating the deficit by 2015 and maintaining Britain’s AAA credit rating.
Figures from the Autumn Statement reveal that the Government have borrowed £219 billion more over this parliament than originally planned and borrowing for this year and next will be £12.5 billion more than expected.
Copeland MP and Labour’s Shadow Health Minister, Jamie Reed MP said:
“The Government have failed on their own terms. On the deficit, on living standards, on wage growth, they have failed.
“Wages for full time workers are down by £2,000 in real terms while costs rise. People are struggling to make ends meet and more and more are forced to turn to food banks and pay day lenders. This is entirely of the Government’s making as they have wilfully ignored the growing cost of living crisis.
“The truth is that most people aren’t feeling any benefit of the recovery. George Osborne and David Cameron asked people to judge them on their economic record. The Autumn Statement confirmed that it is a record failure.”