Ed Miliband, Ed Balls and Rachel Reeves today reveal
the Tories’ Secret Plan.
Millions of family budgets are at risk from five more years of the Tories’ plans to:
- Cut £3.8 billion from the Tax Credits working families rely on.
- Include Child Benefit in Universal Credit, meaning a cut of more than £1,100 a year for 4.3 million families.
- Double the pace of cuts next year.
The next Labour Government will protect family budgets by increasing Tax Credits at least in line with inflation every year because we know that Britain succeeds when working families succeed.
Ed Miliband, Leader of the Labour Party, speaking at the launch of the Tories’ Secret Plan, said:
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Thank you for that kind welcome.
Rachel, Ed and I are delighted to be here with you today.
Before I ask Rachel and Ed to speak and have our discussion, I would like just to say a few words.
Because we’re just over a week away from the closest election in our lifetimes.
The most important election in our lifetimes.
And, you know, at heart this election isn’t about any leader or party.
It is about the British people.
Because elections are the time when you have the power.
A chance to get the change the country needs.
With a chance and a choice that only comes once every five years.
And what is that chance about this time?
It is a chance to change the way our country is run so it does not put the richest and most powerful first.
But puts working people first again.
That’s why we need a Labour government.
It is a chance to reward the hard work of all working people, not just those with the six figure bonuses.
With an £8 minimum wage.
It is a chance to replace the insecurity faced by so many at work with security at work.
By banning exploitative zero hours contracts.
And legislating so if you do regular hours you get a regular contract.
It is a chance to rescue our NHS.
And we will rescue the NHS.
It is a chance to make Britain work for working families once again.
It is a chance to put your family first.
We’ve heard a lot from David Cameron in the last five weeks about what he says he will do for working people.
But they are false promises.
Because today we reveal the truth.
David Cameron will never put working families first.
Instead he will put family budgets in the firing line.
If the Tories get back in on May 8th, family budgets will be hit.
Today we show what another five years of Tory government would mean.
A Tory secret plan.
A plan that puts the prosperity of your family at risk.
Cuts to tax credits.
Cuts to child benefit.
A threat to your family finances.
7 and a half million families losing an average of £760 a year.
Working families can’t afford another five years of this Tory government.
And if the Tories deny it, ask yourself why yet again today they haven’t ruled out making changes to tax credits or child benefit?
Today their desperate last minute gimmick merely highlights what they have left out: no protection for family benefits.
Then ask yourself this:
Do you believe what you’ve heard from the Tories in the last five weeks, or do you believe what you’ve seen and what your family has felt in the last five years?
Because examine the Tory record and you realise the reality of their plan.
It is a record they are desperate not to talk about.
A record not to run on.
A record to run from.
Because we’ve had five years of their experiment and it has failed.
It has left wages down £1,600.
It has left working people with higher taxes, while millionaires have had their taxes cut.
And remember what they said before the last election:
No cuts to tax credits for families below £50,000.
No means testing of child benefit.
And then they did exactly the opposite.
Their record shows:
You can’t trust the Tories with your family budget.
They broke their promises last time and made people worse off.
And this time, they don’t deny cuts to tax credits, cuts to child benefit, which will devastate the finances of Britain’s families.
Labour has a better plan for a better future: a plan not just for a fairer country, but a more prosperous one.
No government led by me as Prime Minister will cut the tax credits that working people rely on.
Instead, we will raise them at least in line with inflation in every Budget.
And we reject the Tory plans to attack child benefit.
And we can do so because we will make different and fairer choices.
We do not have the extreme plans of the Conservatives to cut more than any developed economy in the next three years.
There will have to be reductions in non-protected departments.
And I have been clear about that.
But we will also clamp down on tax havens and tax avoidance by the hedge funds.
And end the non-dom rule.
We’ll bring down the deficit more fairly by reversing David Cameron’s millionaires’ tax cut.
And we’ll have a mansion tax on properties over £2 million and a levy on the tobacco companies on top of cracking down on tax avoidance to raise vital resources for our NHS.
So this is my commitment.
Labour will balance the books and cut the deficit every single year.
With a tough but balanced plan.
And we will also protect family budgets, defend our schools and invest real money in the NHS.
Because we know that is how Britain will succeed.
So this election is Britain’s big choice:
To put working families first with Labour.
Or to put working families at risk with the Tories.
Families can't afford five more years of the Tory plan to put the wealthiest first.
This is your chance to choose Labour’s better plan.
If we win this election, we can make it happen.
Let’s build that future together.