Labour parliamentary candidate for the Brecon, Radnor and Cwm Tawe constituency Matthew Dorrance has said the latest budget announcement ‘sums up 14 years of Tory economic failure’.

It follows Jeremy Hunt’s pre-election budget announcement. Key points from the announcement include a 2p cut in National Insurance as well as a cost of living fund.

Matthew Dorrance claimed that the announcement encapsulated 14 years of economic failure from the Tories, before imploring Prime Minister Rishi Sunak to call a general election.

He said: “Unfortunately, this budget isn’t a surprise, taxes are continuing to rise, and we’re continuing to plunge deeper into Rishi’s recession under this UK Government. This is just the latest smack in the face for working people across the nation. It sums up 14 years of economic failure from this Conservative UK government - they’ve had ample time to bring about change.

“People across Brecon, Radnor and Cwm Tawe deserve better than this chaotic Conservative budget. Once again, working people are being forgotten. This can’t continue to happen. The time for a general election is now.”

The budget confirms that the UK now has its highest tax burden in 70 years, meaning that households in Brecon, Radnor and Cwm Tawe are set to be £700 worse off on average under the Government’s latest tax plan.

Figures show that for every 10p working people are set to pay in tax under the plan, they will only receive 5p back, as the recession looks set to continue.

The OBR has also confirmed that this will be the only Parliament on record where living standards have fallen, with real pay increasing by just £17 a week over 14 years of Conservative government. Dorrance says that under Labour, wages rose by £183 a week over 13 years.

Rachel Reeves MP, Labour’s Shadow Chancellor of the Exchequer, added: “The Chancellor’s Budget has lifted the lid on 14 years of Tory economic failure. Taxes are still rising, prices are still going up in the shops, and mortgages are higher. Nothing Jeremy Hunt has said changes that. It’s time for change. It’s time for an election.”