Summing up at the end of last month's Opposition Day Debate on taxes, Richard spoke about the appalling mess that the Government's Treasury Team had made of the economy. You can watch his speech at https://youtu.be/HUcEYFtuBH8?si=9s_-pVxZPvF3OtTc
Richard Fuller MP, Shadow Chief Secretary to the Treasury, said:
There's no question that the previous government made some mistakes, however, decisions during that time had to made against a backdrop of the unprecedented global events of the Covid pandemic and the war in Ukraine.
This government inherited an inflation rate of 2% and an unemployment rate of 4.4%. Today, as a direct result of the incompetence and ideologically driven naivety of the Chancellor's policies, business confidence has tanked, inflation is running at 3.6% and unemployment has grown to 4.7% - that's an extra 135,000 people out of work.
Despite taxes being at their highest rate on record, the Chancellor is on the hunt for new taxes: wealth tax, capital gains tax, pensions tax, council tax, savings tax - tax, tax, tax, tax—it is always the same with a Labour Government. The Government’s strategy is to tax their way to growth, but that strategy will not work. No economy can tax its businesses out of existence and create growth.
