MANY are staring at their bank accounts right now trying to make the numbers balance. The cost of living ever higher, while this cruel year has stolen jobs, cut incomes and delivered uncertainty.

Those on Universal Credit have been daunted by the prospect of losing £20 each week, left wondering how they are meant to feed themselves, while simultaneously we all are seeing a rise in Council Tax. Of course, many have been saving over the last year, clearly some have profited out of the pandemic and for a large number of people, they have managed, but only just.

Once-successful businesses are now hanging on by a thread, charities are stripping back their support and our high streets are looking different.

The one thing the pandemic has highlighted are grotesque levels of inequality. We must never forget the crony contracts, as Tory donors and supporters were handed lucrative deals. How the £22bn Test and Trace system paid scores of consultants over £1,000 per day, while not delivering timely infection data and how their dodgy dealings left our hospitals with £150m worth of PPE that could never be used. As the courts found, the Tories, covered up their dealings and lacked transparency.

As the Chancellor raises his red box for this year’s budget, will it contain the financial lifelines needed now and the investments necessary for the future, or will it be full of short term measures which have more to do with political security for his Party than economic security for us all?

Recent reports continue to highlight how the North, despite promises made, fails to see investment like other parts of the country, especially in transport.

The Government might have thrown money at its ‘Towns’ Fund’ where 60 out of 61 places on the list were seats occupied by their own MPs, but it certainly hasn’t levelled up the country.

These short-term gimmicks to buy political favours highlight how this Government’s economic strategy is predicated on short-term self-interest, not on communities and families experiencing hardship right now.

This is why Labour is setting out a very different vision. A plan to protect jobs and businesses, to stabilise the economy over the next few critical months and to rebuild a stronger and more resilient economy for our future.

Right now, those who have not received any support, the ‘excluded’, need access to vital funding, the furlough scheme needs extending, business rates relief needs to continue, as does the VAT rate reduction. These measures should secure the immediate future of many businesses in York. We have also called for bank loans to be paid back when businesses are thriving again, giving businesses a proper breathing space, much like student loan repayments. Labour is also calling for an immediate extension to the £500 isolation payment to keep people safe.

Labour demands investment for the longer term too; investing in businesses, our communities and families.

Too many initiatives have come from the Treasury this year which have served as short-term gimmicks like the Job Retention Bonus, giving money away to employers who were not in need, or the Eat Out to Help Out scheme which did more to help spread Covid-19 and cause a further damaging lockdown than invest in hospitality.

Labour has proposed a British Recovery Bond, which will enable more money to circulate in the rebuilding of the country for many years to come. Such a long term measure would help grow new, secure jobs for the future.

In my budget submission to the Chancellor, I have focused on measures to lay the foundations for York’s future economy. I’ve echoed Labour’s call for a financial bridge to see us through this next phase and to plug the gaps in support. Further I’ve called for a high street recovery fund to help regenerate our city centre, economically and socially.

Bringing forward investment in the BioYorkshire project will create 4,000 green collar jobs while tackling the climate challenge. I’ve also called for funding for a community business hub to help local businesses recover, consolidate and grow, birthing a new generation of start-ups and social businesses releasing York’s entrepreneurs to convert their business ideas into reality.

Protect, secure and rebuild must be the foundations of this year’s budget if we, as a society, are to not only recover but truly build back fairer.