Thomson Votes Against Tax Cut for Banks

Thomson Votes Against Tax Cut for Banks

Published date : 03 November, 2021

Gordon MP Richard Thomson has criticised the Conservatives for voting through a tax cut for banks - less than a month after the UK Government slashed the incomes of six million by £1040 overnight by cutting Universal Credit and announced a regressive National Insurance hike.  

Commenting, Richard Thomson MP said: 

“Voting through a tax cut for banks of all things on the back of imposing the biggest overnight cut to benefits since the creation of the welfare state and announcing a regressive tax hike that will hit low and middle income earners the hardest reveals who has the support of the UK Government, and it isn’t hard-pressed families in the North-east. 

“On top of this, the UK is facing a Conservative-made cost of living crisis.  Instead of giving tax cuts to the banks, the UK Government should be putting money in the pockets of the people who need it most.  Millions of families across the country are struggling to navigate the perfect storm of rising fuel, energy and food costs, at the same time as their incomes are being hit. 

“The taxpayer bailed out the banks when the financial crisis hit and have been rewarded since with a wholesale withdrawal of bank branches from our towns and villages.  They should not be rewarded again. 

"The Conservatives are stamping out any chance of a fair recovery under Westminster control.  The only way to keep Scotland safe from Conservative cuts and the long-term damage of Brexit is for Scotland to have control of its own affairs." 

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