Under Labour, things are going backwards. Just a few weeks ago, I wrote about how things were only getting worse since Labour came into Government. Since then, the economy has taken a further hit.
While Sir Keir Starmer, Rachel Reeves and other Labour Ministers continue appearing on TV telling everyone that they are ‘fixing’ the country, the reality for people is very different. Thanks to the decisions made in Labour’s disastrous budget, the economy is grinding to a halt and people are getting poorer.
The International Monetary Fund (IMF) has cut its forecast for the UK economy, which is now expected to grow by just 1.1% this year.
Under the Conservatives, inflation met the Bank of England’s target. The IMF predicts that inflation in the UK under Labour will be the highest of any advanced economy, mostly due to higher bills, including electricity, gas and water. Higher inflation means higher prices for everyone. As a reminder, Starmer promised that a Labour Government would cut energy bills – instead, they’re going up.
The IMF has been clear – they forecast lower growth and higher inflation as a result of the Labour Government’s policies.
Before the election, Starmer and Reeves pledged they wouldn’t increase taxes. Earlier this month, Labour’s increase in employers’ National Insurance came into effect. The higher costs for businesses have already had an impact on jobs and wages.
The Chartered Institute of Personnel and Development are saying that a third of businesses facing higher National Insurance bills will cut jobs. Businesses are freezing recruitment, with the number of jobs being advertised have fallen to their lowest levels since 2021 – at one of the highest points of the pandemic. At the same time, it’s estimated that the average family will end up being £3,500 worse off over the next four years, through lower wages.
This tax on jobs will have a real impact in Wokingham Borough. Almost 1,000 businesses in our area will see their National Insurance bills go up.
Unemployment is already on the rise. Across the country, it is higher than it was a year ago. In Wokingham Borough, the proportion of people claiming unemployment benefits has increased from 1.8 to 2.1% under the Labour Government.
Labour have also made it more expensive to move house. Thanks to fees, surveys and taxes, including the Chancellor’s increase in Stamp Duty, the additional costs for the average house-buyer are now more than £4,000 more than before the pandemic.
Rather than working to a clear plan, the Labour Government is flailing about, breaking every part of the economy it comes into contact with. No matter how bad things get, Labour seems determined not to change course. Their stubbornness, in the face of all the evidence showing they are wrong, is going to cost us dearly.
Conservatives in Parliament and across the country have been listening to people about the negative impact of Labour’s policies. We have been campaigning and making the case for a change in direction from this Government. While Labour continues to make you worse off, the Conservatives are on your side.
Cllr Pauline Jorgensen is the leader of Wokingham Conservatives
