Sean Woodcock, Banbury Labour Party’s parliamentary candidate for the General Election claims that the Tory-led Coalition’s economic policies are exacerbating poverty and that talk of recovery is a ‘myth’ for many people in Banbury.
New research commissioned by Which? revealed that despite Banbury being located in the prosperous South-East of England, there are pockets of deprivation where one in six families are struggling to pay bills.
Sean Woodcock says, “The coalition government claim that the UK is coming out of recession citing lower unemployment figures and lower inflation, but this research shows that many families are either taking out payday loans or unauthorized overdrafts, or defaulting on household bills just to survive. Particularly hard hit in Banbury are Ruscote, Grimsbury, Neithrop as well as Bicester West.”
The research shows that more than one in ten people are resorting to risky loans from companies like Wonga and another one in ten are defaulting on loans, bills or housing costs in parts of Banbury and Bicester.
Sean Woodcock continues, “It is symbolic of the unfair way in which this government is running our economy to benefit a few people at the top. We saw this with their tax cuts for millionaires, while most families struggle to make ends meet. Council schemes like ‘Brighter Futures in Banbury’ have their place but they cannot undo the damage that is being done at a national level especially when key agencies supporting the scheme are facing draconian cuts in their funding.
See Guardian article on stressed comunities