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City MP to back binding vote on Emergency Budget for struggling families

Stephen Morgan MP is set to back a binding vote, forced by Labour, calling for the government to bring forward an Emergency Budget to address the cost-of-living crisis, and to urgently start tackling the low growth leaving the UK economy exposed.

The Official Opposition has repeatedly highlighted how low growth and now stagflation are leaving Britain more exposed to the cost-of-living crisis rippling across the country.

With figures released this morning showing the highest levels of inflation for 40 years, the party is urgently calling on the government to create a more pro-growth, pro-business environment post-Brexit, where higher productivity and more private investment is leveraged in to help Britain lead the pack globally.

Labour has said its plan to buy, make and sell more in Britain; to fix the holes in the government’s patchwork Brexit deal; and its Climate Investment Pledge to decarbonise the economy and create good jobs across the country is vital for creating more certainty, boosting businesses and stimulating growth.

It comes after recent news that the Chancellor’s most expensive business tax break of all time – the super deduction – costs more than the investment it brings in.

Labour’s amendment will be voted on during the Queen’s Speech debate on Wednesday. Unlike how the government treats opposition day debates, MPs are required to vote on the amendment.

The Member of Parliament for Portsmouth South, Stephen Morgan, said:

“Our city and the country face a cost-of-living crisis, and a growth crisis.

“Wages are being squeezed, our tax system is unfair and there is no plan for the future of our economy. None of this is inevitable but a consequence of government policies and Conservative choices.

“Labour has a new vision for a fairer and more prosperous economy. That’s why the Conservatives must back our motion today, not just for them to come forward with an Emergency Budget to tackle the cost-of-living crisis in Portsmouth, but to set out the plan Britain deserves to get our economy firing on all cylinders.”