Today is the first day of the tax year and so many of the tax changes and cuts announced in the budget on 23rd March come into effect today. Ed Balls, Shadow Chancellor, has labelled today BLACK WEDNESDAY.

It's Hurting:

• The VAT rise will cost families with children £450 this year alone
• Tax credits and child benefit will be frozen from April
• Petrol prices are soaring with the VAT rise adding 3p per litre
• Economic growth has stalled
• Unemployment is rising again – now at a 17 year high
• Nearly 1 million young people are now out of work

But It's not Working:

• George Osborne’s decision to cut too far and too fast has threatened the already fragile economic recovery.
• Ten wasted months in office and this Government still has no plan for growth.
• We need a plan that puts jobs and growth first. Getting more people into work and the economy growing strongly again is the best way to get the deficit down.

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