Oldham MP warns: average earners will lose over £1,000 during 2023.

Oldham East and Saddleworth MP Debbie Abrahams

Debbie Abrahams, MP for Oldham East and Saddleworth, is warning that the Chancellor’s Spring Statement will result in the average earner’s income falling by £1194 in 2023, relative to inflation, in the North West of England.

The MP has criticised the Chancellor after it emerged that not only would working people still be hit with, what has been described as, the biggest tax burden since the 1940s, but that living standards are expected to plummet at the fastest rate seen since records began.

Ms Abrahams, said: “The government must scrap the damaging, and unfair National Insurance rise and to chose a one-off windfall tax on oil and gas producer profits instead, and take up to £600 off the energy bills of households struggling with the rising cost of living crisis.

“The Chancellor has no long term plan for growing the economy or wages, setting out a plan for tackling the waste and fraud that has run riot under his watch, or any vision for creating prosperity for the UK.”

The statistics released by Labour show workers in the North West will see their real earnings fall by £1,194 a year by 2023 under the Chancellor’s plans

The MP added: “All we got from the Chancellor in his Spring Statement was a promise of jam tomorrow rather than the support that is needed now.

"And now we learn that workers in Oldham, Saddleworth, and across the UK, are facing a sharp squeeze on their wages, losing many hundreds of pounds from their pay packet in the next year alone.

“He also lacked a long term plan for productivity, skills and growth, which business across the North West play a vital role in.

“We've got to get a grip on spiralling inflation and the rising cost of living crisis which is leaving people worse off.

“Not only is it leaving people worse off, and worried about paying the bills, it's stopping their spending going back into our local economy, so our businesses and our growth is suffering.

“The Spring Statement was the chance for the Chancellor to scrap his unfair tax hike on working people and on businesses.

“It was the chance for him to bring in a one-off windfall tax on oil and gas producers, to take up to £600 off people's energy bills.

“It was the chance for him to set out a plan for British businesses.

“In failing to do any of these, the Chancellor made the wrong choices for Oldham, Saddleworth, and the rest of the country.” 

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