Strivers’ tax will hammer nearly 10,000 in Rochdale

Figures released by local Labour MP Simon Danczuk reveal 9,800 families in Rochdale will be hit by George Osborne’s ‘Strivers’ tax.’

“Working families in Rochdale will be amazed that George Osborne is asking them to pick up the tab for his failure at the same time as he gives a tax cut to millionaires,” said Mr Danczuk.

“Nearly 10,000 working families in Rochdale are facing a strivers tax because this government has failed on jobs and growth.”

Liam Byrne MP, Labour’s Shadow Work and Pensions Secretary, said:

“No growth, more debt, higher unemployment, this government is failing and once again Britain’s strivers are taking the hit.

“Last month this government admitted their Work Programme is worse than doing nothing, leaving millions locked out of work and pushing the benefit bill through the roof - an eye-watering £13.6bn higher than expected.

“To pay down the price of that failure they are raiding the budget of their own Universal Credit programme which was supposed to make sure you’re always better off in work. Instead the scheme will lock in George Osborne’s ‘striver’s tax’.

Ed Balls, Labour’s Shadow Chancellor, said: “Taking into account everything George Osborne announced in the autumn statement, the Institute for Fiscal Studies says that one earner families with children will on average be £534 a year worse off by 2015. Yet 8,000 millionaires will get an average tax cut of over £107,000 next April.

“There is nothing fair about making striving working families pay the price for this government’s economic failure, while George Osborne gives a £3 billion tax cut to the richest earners in the country.”