Chris Leslie MP, Labour’s shadow chief secretary to the Treasury, commenting ahead of George Osborne’s speech tomorrow, said:

“Working people facing a cost-of-living crisis are £1,600 a year worse off under George Osborne because wages have fallen in real terms.

“On tax George Osborne is giving with one hand, but taking away much more with the other. Analysis of figures from the IFS shows that households are already £900 a year worse off because of all tax and benefit changes since 2010.

“While millionaires have been given a huge tax cut millions of hard-working people have seen their taxes go up. There have been 24 Tory tax rises, including the VAT hike which has cost families with children an average of £1,350 over the last three years.

“Labour would deal with the cost-of -living crisis by freezing energy bills, cutting business rates for small firms and expanding free childcare for working parents. We also want to cut taxes for 24 million people on middle and lower incomes by introducing a lower 10p starting rate of tax.”