Last week the Chancellor presented his Autumn Budget statement to the House of Commons, outlining a number of policy announcements and the outcome of the Spending Review. Among the announcements was a steep rise in inflation, an increase to the National Living Wage, and the allocation of the first tranche of Levelling Up Funding.
Yesterday was the final day of debate on the Budget, and I was honoured to have the opportunity to represent the constituents of Rutherglen and Hamilton West and how the announcements will impact on them. I focused my speech on three main areas of concern: the Universal Credit Taper Rate, the National Living Wage, and energy prices.
While the Budget was presented as a great success for the working class, most people will not see a significant rise in income. With inflation soon set to hit 4%, the Health & Social Care Levy coming into effect next year, the removal of the £20 Universal Credit uplift, and ever rising costs of living, much more could have been done to support the most vulnerable in our society.