Comprehensive Spending Review(June 25, 2013)
This week, George Osborne will deliver his Comprehensive Spending Review. As such, I thought it would be prudent to outline Labour's message to show people in Walton that there is a real alternative.
Here is the Shadow Chanellor's article in the Sunday Mirror:
This week Chancellor George Osborne will once again stand up in the House of Commons and tell us everything’s going to plan. But after three years in charge, he’s not kidding anybody anymore.
While he pretends things are getting better, for ordinary families life is getting harder. Prices are rising faster than wages. The number of people on the dole for over a year is going up. And the result is the Tories aren’t even getting the deficit down – the one thing they promised they would do.
This economic failure is why David Cameron and George Osborne are being forced to make even more cuts to public services. But instead of planning more cuts two years ahead, they should use this week’s spending review to boost growth and living standards this year and next year.
More growth now would bring in more tax revenues and mean our public services would not face such deep cuts in 2015.
That's why the government should boost lending to businesses who want to expand and create jobs with a new British Investment Bank.
Help working families with a 10p starting rate of tax, not giving millionaires a tax cut.
And get construction workers back to work repairing Britain’s broken roads and building the affordable homes we need.
As the International Monetary Fund has warned, this is the sort of investment we should be making now to create jobs, make our economy stronger and give us a long-term return.
And after last week's sharp falls in stock markets around the world, this is no time for complacency about weak growth and rising national debt here in Britain.
The hard reality is that if David Cameron and George Osborne carry on with the same failing policies, Labour will have to deal with a difficult situation after the next election.
We will need to root out waste and have an iron discipline on public spending. And we won't be able to reverse cuts in day to day spending in 2015 unless we can find savings or extra revenue from elsewhere.
But we will make different choices on living standards, growth and fairness.
Protecting the basic state pension, but not paying the winter fuel allowance to the richest 5 per cent of pensioners at a time when our NHS and social care are under such pressure.
And taxing bankers bonuses to fund jobs for young people out of work – which they would have to take up or lose benefits.
After three years of failure I hope George Osborne will see sense this week. But if he doesn’t it will fall to the next Labour government to turn our economy around and get the deficit down in a fairer way.