David Evennett, MP for Bexleyheath and Crayford, has welcomed measures announced by the Chancellor during today’s Budget Statement in the House of Commons. After reporting that the Government had been able to reduce the budget deficit by one third and the private sector had created 1.25m since 2010, the Chancellor outlined several policies to help working people and businesses.
Mr Evennett said “Despite the difficult economic situation, the Chancellor has delivered some good news that will help people with the rising cost of living and lower taxes for businesses. I am particularly pleased that the income tax personal allowance will rise to £10,000, representing a tax cut for over 35,000 of my constituents, as well as the freeze in fuel duty.”
Other plans announced by the Chancellor include:
- Tax-free childcare for 2.5million families – worth £1,200 for every child under 12 by 2015;
- New schemes to help people buy their own home, including mortgage guarantees that will allow people to purchase with lower deposits;
- A new employment allowance worth £2000 for every business from next year, so that they can employ one person on £22,400 or four people on the minimum wage without paying any employers’ National Insurance Contribution;
- A cut in beer duty;
- Bringing forward the new cap on social care costs and the new single state pension to 2016; and
- Extra payments to Equitable Life victims.
Mr Evennett added “The Government is clearing up the mess left behind after 13 years of Labour failure. This is an aspiration Budget that shows the Conservatives are on the side of those who work hard and want to do the right thing.”