LOCAL MP for Central Devon and Shadow Chancellor Mel Stride has warned that families in Devon are in line for dramatic cost increases in the new tax year.
It comes as a swathe of price increases are set to come into force from 6 April, with analysis showing that the average family could be hit with annual bill increases of £1,191 following the April hikes.
Energy bills will rise by an average of £111, Council Tax is set to rise by £109, and water bills could increase by as much as £123 per household.
Other bills set to rise include car tax, TV licence fees, phone bills, broadband, and nursery fees.
Commenting, Mel Stride, Shadow Chancellor of the Exchequer and Member of Parliament for Central Devon, said:
“Today hard-working families across the country will see their cost of living rise yet again – and it's all thanks to this Labour government’s choices.
“A whole litany of household bills is set to soar, with some increases running into the hundreds of pounds. Whether it’s council tax, energy, water, broadband or car tax, almost every corner of family life is about to get more expensive.
“Yes, these bill hikes may come into force on April Fools’ Day, but there’s nothing funny about what Labour is doing to the country.”
These price rises come alongside increases in the rate of National Insurance that employers pay. The 1.2 percentage increase, coupled with the reduced threshold at which businesses start paying National Insurance contributions, is set to cost businesses £25 billion.
The Office of Budget Responsibility’s (OBR) independent economic forecast has confirmed that the average cost of employing someone will increase by £800, with the average business seeing their tax liability increase by £26,000. This is, on top of the £5 billion a year cost of the new Employment Rights Bill, is likely to trickle down into reduced wages for employees and see consumer prices increase dramatically.
At a time when the cost of living is increasing, the impact of these measures is likely to be devastating for many families across the country.
