A West Devon MP has added to the chorus of criticism of Labour’s Budget from opposition parties today (Thursday).

The Conservatives say Chancellor Rachel Reeves’ second Budget, unveiled yesterday (Wednesday), is raising taxes for ordinary hardworking people to pay for welfare for those out of work.

Sir Geoffrey Cox, Conservative MP for Torridge and Tavistock, said the Budget was ‘punishing’ savers, entrepreneurs, employers, pensioners and people hoping to have something left to leave to their families.

Labour had broken its General Election promise to grow the economy though the Budget’s measures, he said.

He was particularly critical of the scrapping of the two-child limit on benefits, apparently under pressure from Labour backbenchers. This means those on Universal Credit will receive extra benefit for each child not just the first two.

Sir Geoffrey condemned what he described as ‘feckless and unsustainable’ increases in state spending.

He said: “As I warned during the election last year, despite Labour’s promises, if you work hard and save, build businesses and provide employment, put aside for your retirement, or want to leave something to the next generation, this government is coming for you.

“It will punish prudence, self-reliance and aspiration to subsidise feckless and unsustainable increases in state spending on welfare, which it knows it must control, but has not the courage to do so.”

Sir Geoffrey said the Office For Budget Responsibility (OBR) was warning the extra tax burden was damaging the economy instead of growing it, contrary to what Labour promised to do at last year’s General Election.

He added: “Today, with the economy groaning under the burdens the Chancellor has heaped on it in just 16 short months, the writing is on the wall, and we have seen the future under Labour.

“As the OBR tells us, over the parliament, productivity and growth will be down, inflation will be up, and Gross Domestic Product (GDP) will be down as taxes and debt spiral.

“This is the government that promised growth and change, but has delivered disappointment and disillusionment in equal measure, while the only thing it has changed is its promises.”