David Hanson MP, Labour’s Shadow Treasury Minister, has criticised amendments to the Finance Bill proposed today by David Cameron’s MPs.
The amendments from David Cameron's MPs would reinstate tax relief on private medical insurance for the over-65s and change transferable tax allowances.
David Hanson said:
“It’s astonishing that at a time when millions of families and pensioners are being hit hard by deep spending cuts and tax rises, the first priority of David Cameron’s restless Tory backbenchers is unfair tax cuts only for a few.
“Just when the NHS is under real financial pressure, Tory MPs are proposing we divert hundreds of millions of pounds to subsidise those who can afford to pay for private medical insurance. And the proposed multi-billion pound marriage tax break would penalise those who are separated, widowed or divorced – many of whom are already being hit hard by cuts to tax credits and childcare support.
“Instead of unfair tax cuts for a few, we need a temporary emergency VAT cut for everyone until the economy starts growing strongly again. This would be a much–needed boost to all people on low and middle incomes, not just a few. It would boost confidence and get the stalled economy moving again and so help get the deficit down for the long-term.”