Moorlands MP, Dame Karen Bradley has welcomed the Government’s recent Budget.
Because the Conservatives stuck to the plan with the economy, inflation has fallen from 11.1. per cent to 4.0 per cent. That means the Government has been able to cut taxes for more people and businesses in the Moorlands.
The Government announced National Insurance will be cut again. Combined with the cut at the Autumn Statement, that is a tax cut of over £900 for the average worker earning £35,400 – giving the average earner the lowest effective personal tax rate since 1975.
It means a hard-working family with two earners on the average income of £35,400 each, in Staffordshire Moorlands will be better off by £1,827 a year.
The Budget also confirmed small businesses will pay less VAT and alcohol and fuel duty will be frozen, keeping costs low for businesses and drivers.
To further support economic growth, the Conservatives confirmed that half a million families will gain an average of £1,260 a year towards the cost of their childcare costs. This is thanks to a rise in the threshold for the High-Income Child Benefit Charge, rewarding hardworking parents who want to take up more work.
Commenting, Karen said:
“With inflation down from 11.1 per cent to 4.0 per cent and wages growing, I am pleased the Government is focusing on cutting the taxes that help to grow the economy.
“This Budget cuts taxes for hardworking business owners and families across the Moorlands, continues to drive down inflation to help with the cost of living and supports the public services we all rely on.”
Commenting, Chancellor of the Exchequer Jeremy Hunt MP said:
“Because the Conservatives are sticking to the plan with the economy inflation is down from 11.1 per cent to 4.0 per cent, meaning we can cut taxes and put more money in people’s pockets to grow the economy.
“Our Budget cuts taxes to reward work, supports small businesses and helps more parents with the cost of childcare to grow the economy and fund public services.
“By sticking to the plan, the Conservatives will deliver a stronger economy to build a brighter future. Labour cannot say what they would do with the economy because they do not have a plan and would take us back to square one.”
