Carol Monaghan, MP for Glasgow North West, has called on the Chancellor to follow up his U-turn on the top tax rate by providing more support to households this winter.
Following significant backlash, including from a large number of Tory MPs, the Chancellor has buckled to pressure and scrapped the planned cut to the 45p rate of tax for the highest earners. He must follow this up by providing further support to ordinary households who have just seen their energy bills skyrocket.
The Treasury also confirmed that public services facing an £18bn financial shortage caused by inflation will not be given any further financial support.
Commenting, Ms Monaghan said:
“It was absolutely absurd that tax cuts for the rich were being funded by taxpayers at a time when household bills are squeezing ordinary people’s incomes. This humiliating U-turn should never have been required and the economic devastation caused by the new Prime Minister and Chancellor is completely unacceptable. It is clear that the Conservative UK Government has lost control of the economy and the most vulnerable will face the harshest consequences of this.
“People in Glasgow North West are seeing their energy bills increasing and their mortgage rates going through the roof, and now the UK Government is compounding this by imposing cuts of £18bn on already stretched public services. The Chancellor must urgently act to ensure that people are not pushed into fuel poverty; are able to access affordable mortgages; and that public services are properly supported this winter.
“The interests of people in Scotland are not served by a Tory Government in Westminster that is more interested in profits for hedge fund managers than the struggles of ordinary people. It is clear that independence is urgently needed to escape this economic misery inflicted by the latest incompetent Prime Minister and Chancellor”.
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