Rachel Reeves says UK can no longer afford Tory government

• Chancellor George Osborne says he will not be changing bank bonuses or non-domicile tax rules.
• Labour MP Rachel Reeves says the Conservatives have “crashed our economy” and sent inflation “through the roof”.
• She says ordinary working people are paying the price.

Rachel Reeves of Labour then moves on to discuss the possibility of levying taxes on the earnings of energy companies.

She claims that the government “has finally been pulled kicking and screaming to extend the windfall tax that Labour had been demanding for since January,” despite the prime minister’s resistance over the course of several months.

She goes on to say that they have still left billions of pounds on the table, “earnings that are the windfalls of war,” and that the government has neglected to fix a loophole that has allowed them to do so.

Reeves claims that the chancellor, despite his assertions that his statement is accurate, has continued to pursue his plan to increase the maximum amount that bank employees can earn in bonuses.

The non-domicile tax rules, which allow certain people to pay tax in the UK only on their income earned in this country, will not be altered under his administration, either.

Reeves continues: “The Conservatives have crashed our economy, given up on growth and sent inflation through the roof. As usual, it is ordinary working people who are paying the price.” “It is a familiar tune”, Reeves says, paraphrasing the song Every Breath You Take by The Police: “Every mortgage they raise, every cut they make, every tax they hike – the Conservatives are costing you.” Reeves says the Tories have “no plan for the future of our country.” “The conclusion is that Britain can no longer afford a Tory government,” Reeves says.

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