Rebecca Harris MP welcomed the announcements made in this year’s Budget. The Chancellor of the Exchequer revealed a number of measures that will see further investment in our health service, highways network and schools. The personal tax allowance has also been increased which will see taxpayers keep more of their pay packets.
Following on from a commitment announced this year, a £845 billion five year deal for the NHS was confirmed. An annual £20.5 billion real terms increase in full for the NHS alongside the NHS 5 year plan will see the service improved and reformed with reduced waste. The Government’s significant investment will fund the establishment of a new Mental Health Crisis service.
In order to ensure the transition to Universal Credit is as smooth as possible for individuals, the Chancellor announced a further £1 billion package of measures. The Chancellor revealed a further £1.7 billion of investment per year to increase the work allowances in Universal Credit to £1,000 per annum. This will benefit 2.4 million working families with children and people with disabilities by £630 a year.
Since 2010 over 3.3 million more people are in work, and just in the East of England unemployment has fallen by 48%, providing more families the security of a regular wage. A rise in national living wage for workers over 25 from £7.83 to £8.21 an hour was also set forth by the Chancellor. As a result, 138,000 full-time workers in the East of England will see an annual increase of around £690 in their salary. The Personal Tax allowance has been raised once again to £12,500 meaning an average tax payer will pay £130 less tax a year.
In a bid to support high street businesses through the threat posed by large online retailers, business rates are to be cut by one third for a period of two years. This move will lead to annual savings of up to £8,000 for roughly 90 per cent of all independent shops, pubs, restaurants and cafes. Additionally, A UK Digital Services tax was announced to ensure that large digital firms pay a fair share of tax to support Britain’s public services. Coming into effect in April 2020, this move is expected to raise over £400 million a year which will be put towards our public services.
The Chancellor recognised that potholes are high on the list of the public’s concerns and is making an additional £420 million available immediately to tackle Local Highway Authorities. This money will be put towards tackling potholes, bridge repairs and other minor works in this financial year.
Rebecca Harris MP said “I welcome this year’s Budget that will put more money in the pockets of hard-working people, improve our public services and raise standards of living. The Government has pledged significant funding to areas such as the NHS and roads which I know are important to many of my constituents in Castle Point”.