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Bank bonus tax should pay for a youth jobs plan, not a cut in tax credits - Bryrne
24 November 2011
Liam Byrne MP, Labour’s Shadow Work and Pensions Secretary, responding to reports that the Government intends to squeeze tax credits to pay for a jobs fund, said:
“You couldn't make it up. This Tory-led Government has put up unemployment and is now proposing cuts to working families tax credits to pay for a back to work scheme. But it’s bankers’ bonuses that should be paying to help get young people back to work, not working families.
“This Government has been asleep at the wheel, while youth unemployment has sky-rocketed. They cancelled Labour's Future Jobs Fund and put nothing with the same punch in place. Now youth unemployment has spiralled to over a million young people, the Government is going to hit hard-pressed families to pay the bill for their failure to get Britain back to work.
“A bank bonus tax should be paying for a youth jobs plan, not a cut in tax credits.”
