Statement from Fleur Anderson on today’s fiscal announcement.

Today’s announcement is nothing short of is casino economics – gambling the mortgages and finances of every family in Putney and across the country to keep the Conservative party happy.

Twelve years of Tory government have left us with lower growth, lower investment, lower productivity, and today – the lowest consumer confidence since records began. The only things that are going up are inflation, interest rates, bankers’ bonuses and levels of inequality.

Putney, Roehampton and Southfields has one of the highest financial vulnerability levels in South West London, and the highest in the borough of Wandsworth and levels above both the London and UK average. Today’s announcement will be terrifying for the already stretched and anxious households in our community.

Costs of housing in London are also rising along with energy bills and food. But this mini-budget won’t help renters or mortgage payers. Increased inflation will increase mortgages and scrapping stamp duty during COVID led to selling off houses, a shortage of homes for rent and higher rents.

There was no sign of the climate emergency in this plan. It is a huge missed opportunity. There needs to be an insulation revolution to cut bills, cut carbon and create green jobs. But this is not a priority – instead the Chancellor said that cutting VAT for luxury supping for tourists is a priority. It made me despair.

With Labour’s plan, oil and gas giants with booming profits pay, so that you won’t have to shell out a penny more this winter or for years to come for your energy.

With Labour you get an ambitious plan for growth through our Green Prosperity Fund and our mission to scrap business rates and replace them with a fairer system.

With Labour, you get the investment in insulation, renewables and nuclear we need for our long term energy security.

With the Tories, you get a plan to reward the already wealthy. A return to the trickle down of the past, not a brave new future. The Chancellor has made clear today what his priorities are.