Speeches sourced from the Labour party’s online archive More…

Catherine McKinnell MP, Labour's Shadow Treasury Minister, responding to today's inflation figures, said:

"With prices still rising much faster than wages the squeeze on people on middle and low incomes continues. And when the OBR now says people will be worse off in 2015 than when David Cameron entered Downing Street it's clear this government's economic plan has totally failed.

"On top of rising food prices and soaring energy bills, the average family is £891 worse off this year because of tax and benefit changes since 2010. Millions are paying more as VAT is higher and tax credits are cut, while millionaires get an average tax cut of £100,000.

"We need urgent action to kickstart our flatlining economy and help people struggling with the rising cost of living. The Budget should have invested in building affordable homes, cancelled the tax cut for millionaires and brought in a lower 10p starting rate of tax, funded by a mansion tax on homes worth over £2m. The government needs to realise that a strong and sustained recovery can only be made by the many, not just a few at the top."

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