A budget ‘by the rich, for the rich’

OLDHAM MPs have slammed yesterday’s “regressive” budget as being “by the rich for the rich.”

Oldham East and Saddleworth MP Debbie Abrahams dammed the chancellor’s big announcement that he is cutting taxes for those earning over £150,000 a year — the richest 1 per cent of the population — when hard-working Oldham families are struggling.

Mrs Abrahams said: “An example of how this budget fails the ‘fairness test’ is that 4.4 million pensioners will pay more income tax in 2013-14 compared with 2012-13.

“Oldham’s long-term youth unemployment has increased by 137 per cent in the last year and overall unemployment is over 3,500. Mr Osborne has taken no action to get jobs and growth moving.”

Oldham West and Royton MP Michael Meacher said while he welcomed an increase in personal allowances, those who are not at work or retired won’t benefit.

He said the Government is “squeezing the most vulnerable” by cutting tax from the highest earners and taking £1.50 a week from pensioners by freezing their personal allowance.

“To call it unjust is not enough,” he added.