Insecurity for Pensioners and Working People

The Tory threat to living standards

When Theresa May launched her manifesto for the 2017 General Election she returned to her claims that her priority was to deliver prosperity to Britain. Nothing could be further from the truth.

Behind the rhetoric, this is a manifesto that offers the majority of working people and pensioners insecurity. It places a huge question mark over their future living standards.

Pensioners have been betrayed by this manifesto, with the Tories choosing to target them with a triple whammy. Older people stand to lose the pension guarantee in the next parliament, the Winter Fuel Allowance is being hacked away at and the Tory social care plans could see those who need support forced to pay for it with their homes.

For working people, it’s a similar story of insecurity. The tax guarantee the Tories made in 2015 is gone. With it goes the Tory promise not to raise income tax and National Insurance contributions, raising the spectre of tax rises on lower and middle incomes. It’s no wonder the Tories have also dropped from their manifesto their previous promise to raise living standards – that is now a distant prospect for millions of working people.

In a document published today, Labour reveals the scope of the Tory attack on living standards.

picture of hand with ten pound note and change,

The Tories are a threat to pensioners:

• Pensioners would have been left at least £330 worse off had the Tories’ new ‘Double Lock’ been in place in recent years.

• Ten million people – five out of six pensioners – are set to lose their Winter Fuel Payments, worth up to £300.

• 34 million people face the prospect of working longer if Theresa May raises the State Pension age.

The Tories are a threat to working people:

• Since 2010, the average household is paying more in both direct and indirect taxation: a total of nearly £2,000. And now they face the threat of further tax rises.

• Under the Tories the UK is set to experience the worst decade for real household disposable income since 1949.

Behind Theresa’s May rhetoric, their manifesto offered nothing but a very real and present danger to pensioners and working people.

The Tories stand up only for the few. For the many they offer the threat of harder times to come.

You can read more about the Tories threat to living standards and download a copy of the document by clicking here

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