Chris Elmore, MP for Ogmore, has called on the UK Government to cancel the planned National Insurance rise next month as the cost of living crisis grows.
To address the immediate crisis, Chris Elmore has said Labour would bring in fully-funded measures now to reduce the expected price rise in April, saving most households in Ogmore around £200 or more. This would come on top of the support already being pledged by the Welsh Government.
But the Labour Party would also increase and expand the Warm Home’s Discount, targeting extra support to the squeezed middle, pensioners and the lowest earners, saving 12,981 households in Ogmore up to £600 off bills in total, and preventing all of the increase in energy bills currently expected.
Labour would pay for this plan with a one-off windfall tax on North Sea oil and gas producers who have profited from price rises.
Chris Elmore, MP for Ogmore, said:
“Inflation is spiralling out of control, and Conservative choices have left us exposed to a cost of living crisis. The price of petrol, food and energy are still soaring, and I know people in Ogmore are worried about the future. The seeds of the cost of living crisis were sown years ago and the UK Government have been found wanting for their lack of action.
Amongst these spiralling costs, the UK Tory Government are choosing to increase National Insurance Contributions on working people and businesses at the worst possible time. It is deeply unfair to hit 27 million workers with a tax rise while leaving other forms of income, like buying and selling property or deadline stocks and shares untouched.
The Tories must reconsider this plan and halt the national insurance tax hike and focus on growing our economy to get us out of this high tax, low growth trap. If the UK Government continues on this path we will remain firmly stuck in a standard of living recession. With Labour’s plan to buy, make and sell more in Britain, and curb the expected energy price rises, we’ll get our economy firing on all cylinders and support family finances.”