Cathy Jamieson MP, Labour's Shadow Treasury Minister, responding to today's inflation figures, said:
“Rising inflation and stagnant wages mean the squeeze on people on middle and low incomes is getting tighter. But this government is making things worse not better. On top of rising food prices and soaring energy bills, millions will pay more next month as tax credits and child benefit are cut while millionaires pay less.
“The Budget must act to kickstart our flatlining economy and help people struggling with the rising cost of living right now. The tax cut for millionaires should be cancelled and people on middle and low incomes should be given a tax cut instead - for instance through a temporary VAT cut and by bringing back a lower 10p starting rate of tax."<div>