A new online tax calculator has been launched today which Stephen Morgan MP says demonstrates that working people in Portsmouth are much more worse off after nearly fourteen years of Conservative government.
The tax calculator available online at www.ToryTaxCalculator.com allows working people to select their salary band and find out how much more tax they are paying under the Tories even after the National Insurance cut.
The tax calculator shows that the average Portsmouth worker (who according to the ONS earns £27,690 per year) is paying a staggering £945 more per year under the Tories with many paying much more than that.
Since the last election, there have been 25 Tory tax rises. Even after the reduction in National Insurance Contributions, the Institute for Fiscal Studies has said that this will be the “biggest tax-raising parliament in modern times… [and will] not stop tax revenues rising to their highest ever levels.”
For every £10 the Tories are taking in tax because of the freezing of thresholds, they are only giving £2 back – with families still £1,200 a year worse off under the Tories’ tax plans.
Commenting, Portsmouth MP Stephen Morgan said:
“Four consecutive Conservative governments has resulted in working people in Portsmouth being asked to pay so much and get so little in return.
“With the NHS on its knees, 90% of crimes going unsolved, constant chaos in Downing Street, alongside rising taxes and economic failure, local families have rightly had enough of the Tories.
“Portsmouth and the country urgently need a Labour government that will prioritise working people and productivity growth in every part of the country making everyone, not just a few, better off.”
James Murray MP, Labour’s Shadow Financial Secretary, added:
“After 14 years of economic failure under the Conservatives, working people are worse off, with wages flatlining and taxes up. The tax burden is now set to be the highest on record, with 25 Tory tax rises since the last election alone.
“Never before have working people been asked to pay so much and get so little back. It is time for change. We need an election now to give the British public the chance to vote for a changed Labour Party that will change Britain for the better.”