Alan Campbell MP: Poverty figures show state of the nation

I met some students at one of our excellent High Schools last week and was struck by the tone and quality of the questions, particularly what the future looks like for them.

They want to know how young people will fare in a cost of living crisis which puts things like housing further beyond their reach. Real term household income is set to be lower at the forthcoming election than it was at the last election.

It’s worrying that the current generation of young people may be worse off than their parents; previously Governments of all colours saw it as their job to ensure a better future for young people.

The recent budget showed Britain falling further behind in productivity and investment compared to the rest of the G7 countries, problems made worse by earlier policies such as Liz Truss’s unfunded tax cuts which saw interest rates rise and millions paying more for their mortgages.

The March budget committed to getting rid of National Insurance leaving a £46 billion black hole which will have to be filled either with other tax rises, spending cuts or both.

And where any party offers real term council tax cuts year on year the question surely has to be - how do they intend to pay for it without cuts to services?

People, especially young people, aren’t daft and deserve a responsible approach to finances. It is, after all, their future.

Alan Campbell is Labour MP for Tynemouth