TORY MPs voted for a real terms cut to Universal Credit and pensions in the House of Commons last night amid soaring energy prices.
MPs voted to increase Universal Credit by a mere £10.07 and a state pension rise of £5.55 a week. This is a 3.1% increase which will match last autumn’s inflation rate. However, the Office for National Statistics currently reports an inflation rate of 4.8%.
Concerns have been raised that this out-of-step rise to pensions and benefits will only heap more pressure on the poorest families across Britain as the cost of living crisis worsens.
Utterly appalling.
— Richard Burgon MP (@RichardBurgon) February 7, 2022
I just voted against a motion imposing a real terms cut to social security.
Last week Tory MPs turned out in force to back a tax giveaway for bankers.
Tonight they're slashing support to some of the poorest in society.
Labour MP Richard Burgon said: "Utterly appalling. I just voted against a motion imposing a real terms cut to social security. Last week Tory MPs turned out in force to back a tax giveaway for bankers. Tonight they're slashing support to some of the poorest in society."
This comes after last week's announcement that Ofgem would raise the energy price cap by £693, rising to £1971 for a typical household.
On Tuesday morning, BP announced it's highest annual profits in almost ten years, this came in the wake of Shell similarly announcing its opposition to a windfall tax amid soaring profits.
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