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View the article online at http://citywire.co.uk/wealth-manager/article/a741484

Miliband: millionaires only group better off under gov't

by Elsa Buchanan on Mar 19, 2014 at 13:50

Miliband: millionaires only group better off under gov't

Labour party leader Ed Miliband has stressed a decline in living standards in his response to George Osborne's Budget announcement.

As Osborne outlined a Budget for 'makers, doers and savers', Miliband told the House of Commons that UK living standards are down in 44 out of 45 months under the Chancellor George Osborne.

To a noisy room, he said the coalition government had failed to mention one key thing: 'Working people are worse off under the Conservatives,' he said.

Miliband added the Chancellor had not mentioned the '24 tax rises' since the election in 2010.

According to Miliband, people are '£1,600 worse off under the Tories', since the elections. He also claimed this mid-day speech reminded people 'of the gap between his rhetoric and the standards of people's lives'.

The Labour leader said the 'one group that is better off under the current government is millionaires'.

'We know what they [the government] wants: more tax cuts for the riches, while everyone else gets squeezed,' he added.

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