The SNP has said millions of families will suffer a “Tory pay cut” after new analysis revealed the UK government’s latest austerity Budget will leave low and middle income families worse off.

New analysis by the Resolution Foundation today has shown that three-quarters of the £12billion cuts to social security announced by the UK government in 2015 will remain in place after yesterday’s Budget – making a mockery of Tory claims that austerity is over.

The independent analysis reveals that the overall impact of Tory tax and benefit policies will once again help the rich at the expense of the poor – with the poorest fifth of households set to be £400 a year worse off by 2023-24, while the richest fifth are set to gain £390 a year.

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Commenting, SNP Social Justice spokesperson Neil Gray MP said: “Millions of families will suffer a Tory pay cut after the UK government’s latest austerity Budget, which once again benefits the rich at the expense of the poor.

“With real wages lower than they were a decade ago, and the vast majority of Tory cuts to social security still in place, low and middle income families will be left poorer and worse off.

“Instead of imposing damaging cuts, the Tories should have listened to the SNP and delivered a much-needed boost to household incomes – by introducing a real Living Wage, ending the benefits freeze, scrapping the two-child cap, and reversing the cuts to Universal Credit.

“The UK government’s cuts are a failed political choice. It is a disgrace that they have broken their promise to end austerity, and completely failed to use this opportunity to help those who need it most.

“With Labour backing the Tories, it is clear that only the SNP and the Scottish Government can be trusted to deliver a fair income tax system and support family incomes.”

Disclaimer: This is an official press release from the Scottish National Party (SNP). Headline and images added by Welfare Weekly.