Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Miliband: millionaires only group better off under gov't

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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: what's behind the second oil crash?

Brewin's Gutteridge: what's behind the second oil crash?

This week Brewin Dolphin's research head talks to Will Riley, co-manager of the Guinness Global Energy fund, about what next for oil.  

Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter