Labour attacks three years of economic failure as cost-of-living crisis continues across Britain
27 November 2013
Labour will today attack the government’s economic policies for failing on their own terms as the party highlights the growing cost-of-living crisis across Britain.
A week before the Autumn Statement, Labour will use an Opposition Day Debate to say that on living standards, economic growth and the deficit, the government has failed to meet the goals they set in 2010.
And with prices still rising faster than wages, Labour will highlight figures showing that average earnings have fallen in real terms in every part of the UK since 2010.
Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, said:
“On every economic test David Cameron and George Osborne set themselves three years ago they have failed.
“Far from delivering rising living standards, working people are now over £1600 a year worse off under this government.
“Instead of securing the recovery in 2010 we’ve had three damaging years of flatlining. And we’ll need 1.5 per cent growth every quarter between now and the election simply to catch up all the lost ground since 2010.
Kevin McKeever, Labour’s parliamentary candidate for Northampton South said:
“The people of Northampton are paying the price for Tory failure. David Cameron promised to balance the books by 2015, but now we’re seeing the slowest recovery in 100 years. This Tory-led government has borrowed more in the past three years than Labour did over 13 years in government.
”The Tories say we’re all in this together, but with tax cuts for people earning over £150,000 and energy prices rising faster than wages, ordinary families are suffering in our town.”
Kevin McKeever added:
“Ordinary working people in Northampton are carrying the cost of Tory failure.
For most families, we’re seeing no recovery at all. I’m calling on Brian Binley and the Tories to urge George Osborne to tackle our unfolding cost of living crisis in next weeks’ Autumn Statement. Northampton needs an economic recovery that boosts living standards for all, is balanced and built to last.”
1. A table showing the change in real average earnings in each region and nation of the UK between 2010 and 2012 can be found below:
||Weekly change (£)
||Annual change (£)
|Yorkshire & The Humber
2. The text of Labour’s Opposition Day Debate motion can be found below:
“That this House notes that the Government has failed to meet its own economic goals over the last three years with prices rising faster than wages for 40 out of 41 months, average earnings for working people £1600 a year lower in real terms than in May 2010, economic growth far slower than expected, the Government’s pledge to balance the books by 2015 set to be broken and the UK’s credit rating downgraded; further notes that growth of 1.5 per cent is needed in every quarter between now and May 2015 in order to catch up the lost ground from three damaging years of flatlining growth; believes the Chancellor of the Exchequer’s autumn statement should take action to tackle the cost-of-living crisis which means that for most families there is still no economic recovery and to ensure recovery delivers rising living standards for all, is balanced and built to last; and calls on the Government to bring forward measures including an energy price freeze and long-term reforms to the energy market, an extension of free childcare for working parents of 3 and 4 year olds, action to boost long-term housing supply and a compulsory jobs guarantee for young-people and the long-term unemployed.”