Simon Lightwood MP: ‘We can’t afford another Budget of decay and decline’

Simon Lightwood MP writes: The government keeps telling us that things are getting better and the economy is looking up, but people in Wakefield would struggle to believe that when they look at their bills and the money in their pockets.

This is especially ironic against the backdrop of 25 Tory tax rises in this Parliament alone.

In Wakefield, 32 per cent of children live in poverty. The Trussell Trust saw a 30 per cent increase in food parcels given out last year compared to the previous year. Demand for their support is now at an all-time high. This should be a badge of shame for the Conservatives who have presided over 14 years of decay and decline.

This Parliament is on track to be the first in modern history where living standards in this country have fallen. Household income growth is down 3.1 per cent compared to 2019 and Britain is generally worse off.

Rishi Sunak’s promise to grow the economy is now in tatters.

Now there are hints of billions in public service cuts in Wednesday’s budget, which the economy simply cannot afford. If public finances are to turn a corner, we need measures which will boost growth and boost the money in people’s pockets, not more Tory economic chaos.

In the face of that, a changed Labour Party stands ready to govern. With Keir’s leadership, Labour is back in the service of the British people.

The defining purpose of the next Labour government, the mission that stands above all others, will be economic growth.

A Labour government will put economic stability first by introducing a new fiscal lock to bring economic security back to family finances. Never again can we allow a repeat of the devastation of Liz Truss and her disastrous ‘mini-budget’ that crashed the economy and left working people worse off.

Not only will the next Labour government boost the public finances, we will back British business by implementing a new industrial strategy to maximise Britain’s strengths in life-sciences, digital and clean power. Our new National Wealth Fund will unlock billions in private investment to stimulate growth in all parts of our country.

We will also make work pay by introducing a New Deal for Working People and delivering a real living wage. Labour will create well-paid jobs across all parts of our country in the industries of the future to mark a new era of national renewal.

After 14 years of Tory rule, Wakefield cannot afford another Budget with more of the same decay and decline. Real economic change for households will only come from a Labour government, which will boost our economy, make working people better off and get Britain’s future back.