Letter: Our country simply cannot endure more years of Tory economic failure

Last week, Jeremy Hunt claimed that the economy was doing so well that he could afford a pre-election tax cut, taking another 2p off National Insurance. According to the Chancellor of the Exchequer, the economy is growing and debt is reducing.
By Jane Barrett
Published 13th Mar 2024, 00:00 BST
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The reality is somewhat different. The United Kingdom went into recession in 2023 and the per capita growth fell for an unprecedented seven consecutive quarters.The OBR forecasts that debt will continue to rise for the next four years. Real wages will not return to 2008 levels until 2026.Taxes are the highest since 1948 with the average household facing an extra £3,900 pa.

The Resolution Foundation says that tax cuts announced in the budget will require £19 billion of tax rises and £19 billion of cuts to public services after the next election.Public services are already on their knees after the Tory austerity years, this would hit non ring-fenced departments such as justice and local government especially hard.Experts agree these are simply undeliverable. And yet Hunt talks of abolishing NI altogether, which would blow a £45 billion hole in the public finances.Remember Liz Truss anyone? If you have a mortgage then you certainly will.

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Polling shows that twice as many people in the country believe that taxes are rising not falling and that a substantial majority, including Tory voters, prioritise public services over tax cuts.

Our country simply cannot endure more years of Tory economic failure.It is time for a change.

Jane Barrett

Buxton