MP YVONNE FOVARGUE - Time for the return of the 10p tax rate

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SMALL businesses and working families in Wigan are really struggling at the moment.

And they aren’t being helped by a Tory-led Government that won’t change its failed economic policy.

The message of the budget was clear: growth down, unemployment up, borrowing up and millionaires laughing all the way to the bank.

Prices are rising faster than wages but George Osborne’s budget did nothing to help millions on low and middle incomes struggling with the rising cost of living.

The economy is flat-lining and nearly one million young people are out of work.

In Parliament, I have made several sensible proposals that could really help create local jobs now, for example using a bank bonus tax to fund a jobs guarantee for young people, temporarily cutting VAT to help get the economy moving again and building thousands more affordable homes.

But George Osborne refuses to do anything about it and pretends everything is going to plan.

Instead he is preparing to give millionaires a huge tax cut.

On April 6, 13,000 millionaires will receive a tax giveaway - in David Cameron’s Britain millions are paying more while millionaires get a tax cut. It cannot be right that millions are being forced to pay more for this government’s economic failure through cuts to tax credits, child benefit, maternity pay and the bedroom tax, while millionaires get an average £100,000 tax cut.

We need to ease the squeeze on people on middle and low incomes who are seeing their living standards fall year after year.

Wigan deserves better than this.

It’s only as One Nation that we’ll turn this around, rebuilding Britain together by cancelling the tax cut for millionaires and the raid on tax credits for working families.

We should introduce a mansion tax on properties worth over £2m and use it to bring back a 10p tax rate for low and middle income earners and tax bank bonuses to guarantee a job for 100,000 young people.