Cost of Living Crisis

Caused by Conservative Chaos

The Conservative Party has historically prided itself of economic prudence. Low borrowing, low public spending, low taxation etc. However, locked inside the Chancellor’s red box is a galling hypocrisy that has hugely contributed to the cost of living crisis.

  • When the Coalition formed a government in 2010, debt as a percentage of GDP was 60%. Today, under the Tories it is 96.5%
  • Thanks to the Liz Truss Kamikwaze budget, the Bank of England base rate soared to 5.25%, increasing the cost of our mortgages. This increased people's mortgage payments by several hundreds of pounds per month.
  • ​​​​​​​Western European countries saw staggering inflation, but of all G7 countries, Britain's price rises ranked the highest. Brexit has caused delays in the supply chain due to red tape, more job vacancies going unfilled thanks to the end of freedom of movement, and a loss of investor confidence due to these causes of poor productivity.

The impact of these economic decisions has affected not just the very poorest in society, but working families on good incomes too. Reckless and underfunded tax cuts are not the solution to economic growth.

As your Liberal Democrats candidate, I am backing the measures set out in our fair deal to fix our cost of living crisis. These include investing in green industries and greener infrastructure, which will include investing in greener jobs for the future.

I will also argue for a progressive tax system, so that full time working families on Universal Credit are not paying a much higher marginal tax rate than our multimillionaire Prime Minister.

Lib Dem’s conf

Finally, we must accept that Brexit is a huge barrier to growth, even if Rishi Sunak wants to celebrate it, and Keir Starmer wants to ignore it. Our economy has shrank, many vacancies remain open in crucial sectors, just in time supply chains have evaporated and foreign direct investment has fallen off a cliff. It will take time to repair our relationship with Europe, but the Liberal Democrats want to rejoin the Single Market and Customs Union at the very least, so that these barriers to growth will disappear. 

EU Parl

For a fair
deal.

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