A graphic of Catherine's face with the text 'Catherine McKinnell, Member of Parliament for Newcastle North' in white text.

Last week the Chancellor delivered the 2024 Spring Budget. Catherine responded by calling out the government’s failed pre-election plea as the tax burden continues to rise and households continue to be worse off under the Conservatives.  

Commenting on the Budget, Catherine said:

“Fourteen years of Conservative governments have left us with Rishi’s recession, downgraded growth forecasts and the highest tax burden in 70 years. Tinkering around the edges, months before a General Election, will not deliver the long-term economic plan we need for a stable and growing economy.”

On the tax burden

“The Office of Budget Responsibility figures show that for every 10p working people pay in increased tax due to the Conservatives, they will only be getting 5p back as a result of cuts to national insurance contributions.

The Chancellor’s unfunded plans to then abolish National Insurance contributions altogether is reckless and would leave a huge hole in public finances.

These policies are a desperate plea for support ahead of a General Election and do nothing to make families better off.”

On Living Standards

“The North East experienced the steepest rise in child poverty of anywhere in the country in 2021/22, with almost 190,000 babies, children and young people living below the poverty line.

“The Budget confirmed that this will be the worst Parliament on record for living standards and the only Parliament on record where living standards have fallen.”

On growth

The Office for Budget Responsibility confirmed that Conservative incompetence and economic mismanagement have led us to recession, with GDP per capita smaller than when Rishi Sunak became Prime Minister.”