Rt. Hon. John F. Spellar MP

The Cost of Economic Failure in Warley

George Osborne delivered his Autumn Statement to the House of Commons and it is hard to argue his statement was anything but an acknowledgement that plan A has not worked.

The cost of his economic failure to Warley is astounding. From May 2010 to October 2011 there has been a 6.6% increase in the number of people claiming Job Seekers Allowance (JSA) and the number of 16-24 year olds claiming JSA has risen 82 per cent from January 2011 to October 2011.

As a result of announcements in the Chancellor’s Autumn Statement it is estimated that 12,200 families in Warley will see their tax credits cut, 800 families will lose help with their childcare and 3200 women will also be hit by the accelerated State Pension Age.

Commenting on the issue John Spellar, MP for Warley, said:

“It is the families and young people of Britain who are paying the price for George Osborne’s mess. That 12,200 families in Warley will see their tax credits cut is astonishing. This Tory-led Government are taking £1 billion more from child tax credit alone, more than three times as much as from the banks.

“Youth unemployment has spiralled and to an increase of 82 per cent between January 2011 and October 2011 in Warley is deeply concerning. The Government should never have scrapped Labour’s Future Jobs Fund which helped get young people back to work.

“It is clear that the Government’s economic plan is not working, public borrowing is set to be £158 billion more than previously expected and unemployment expected to rise further. This is further proof that it is hurting but not working, we need a clear plan for jobs and growth to get the economy growing and people back to work.”