Monday 29 October 2018 / 7:06 PM Economy / John McDonnell

We now have it confirmed that the pledge to end austerity was a broken promise, like the whole budget – McDonnell

John McDonnell MP, Labour’s Shadow Chancellor, responding to the Budget, said:

“We now have it confirmed that the pledge to end austerity was a broken promise, like the whole budget.

“It is now clear austerity is not over, the cuts to social security will continue and Philip Hammond gave no assurances that departments won’t face further cuts.

“Eight years of destructive austerity has damaged our economy, damaged people’s incomes and damaged our essential services. There is nothing in today’s budget to repair the damage to schools, the police and local councils.

“The money promised for Universal Credit is less than a third of the £7bn of social security cuts still to come and today’s announcement on work allowances reverses just over half the cuts made in 2015.

“While hitting those most vulnerable in our society, the Tories will have handed out £110bn in corporate tax giveaways by the end of this Parliament.

“This is immoral and Labour will end this unfairness, end austerity and rebuild Britain for the many, not the few.”