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
Play French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter