Farnham and Bordon MP Gregory Stafford has raised concerns about the series of tax measures backed by Labour MPs in Westminster this week, warning they could affect working families across the area.

Mr Stafford said measures contained in last week’s “Benefits Budget” will impact households in Farnham, Bordon, Haslemere and Liphook.

He said these include a continued freeze on personal allowance thresholds, increases to dividend tax rates, changes to inheritance tax, cuts to Agricultural Property Relief and reductions in Capital Gains tax reliefs.

Labour’s decision to extend the freeze on personal allowance thresholds for a further three years will, Mr Stafford claims, bring more people into higher tax brackets. He said 1.7 million more taxpayers nationally could be affected.

He added that a person earning £47,000 in Farnham and Bordon could pay £1,300 more in income tax and National Insurance over the next three years as a result of the threshold freeze.

Mr Stafford also criticised the increase in dividend tax rates by two percentage points, saying older residents who rely on dividend income could be affected. He linked the change to the recent reduction in Winter Fuel Payments.

On inheritance tax, he said Labour’s plans could bring an estimated 38,500 more estates into the tax net nationally, with an average increase in liability of £34,000. He said this would affect families who have saved over their lifetimes.

Mr Stafford said the Conservatives would take a different approach, pointing to plans to cut £47 billion in spending under what he described as the party’s “Golden Economic Rule”. He said this would include reducing welfare spending by £23 billion and cutting £8 billion from the Civil Service.

Mr Stafford said: “Labour MPs voted yesterday to hit working families in Farnham and Bordon with higher taxes across the board. Families are already struggling with the cost of living, and Labour’s answer is to take even more money out of their pockets.

‘The threshold freeze alone could cost a working person in our area £1,300. Labour’s Savings Tax and Inheritance Tax will hit grandparents trying to help their families. This is a betrayal of working people.

‘Only the Conservatives have the leader with a backbone, the plan and the team to cut spending with our Golden Economic Rule and reduce tax.’

Shadow Chancellor Sir Mel Stride MP added: “Labour promised not to raise taxes on working people - it’s there in black and white.

“Yet after Rachel Reeves misled the public about the state of the economy, tonight Labour MPs have backed higher taxes to punish hardworking families and fund more benefits.

“It’s disgraceful, and it shows Labour simply cannot be trusted. Britain deserves better: lower spending, less borrowing, and lower taxes - and only the Conservatives will deliver that.”