Teresa responds to the 2013 Budget

Responding to the Chancellor’s 20313 Budget, Teresa said:

“This was a disappointing budget with growth down and borrowing up. Growth will be lower than previously forecast this year and next year.


“The Government’s fiscal plans are in tatters – borrowing is set to be £245 billion more than planned; the Government’s promise to balance the books by 2015 will not be met; and the national debt will not now be falling until 2017/18.


“‪It is families who are paying the price; with unemployment rising, prices increasing and wages stagnating.


‪”The Office for Budget Responsibility has confirmed that by 2015 people will be worse off than they were in 2010.


“This is Budget that is just more of the same – no change on anything important, but the Chancellor’s going ahead with a tax cut for millionaires in two weeks’ time.


“What we needed in this Budget was a change of direction and bold action to kick-start our flat-lining economy and give real help to families on middle and low incomes – not more of the same failing policies.


“David Cameron and George Osborne’s economic plan has completely failed. Families, pensioners and businesses are paying the price. Britain deserves better than this.”

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