Despite the enormous global headwinds, the U.K. economy is proving the doubters wrong. This Government has taken the measures needed to restore stability. We’ve avoided a recession, and growth is now forecast to return.
The Government has, rightly, committed to halve inflation, grow the economy and reduce debt so that we can create better-paid jobs and opportunities across the country - guaranteeing a better future for the next generation.
The Budget for Growth, delivered by the Chancellor, focuses on:
* Extending the Energy Price Guarantee for another three months - helping households combat rising energy costs
* Freezing fuel duty for a thirteenth year - saving the average driver around £200
* Supporting local pubs - by ensuring fraught duty will always be less than duty in supermarkets
* Extending 30 hours of childcare a week - for parents with young children
* Paying Universal Credit childcare costs up front - to help working parents manage their finances
* Increasing the annual pension allowance to £60,000 and abolishing the Lifetime Allowance
* Introducing a £25bn three-year tax cut for business investment
* Abolishing the Work Capability Assessment and increase the Administrative Earnings Threshold to 18 hours
* Establishing a new Universal Support programme for disabled people and those unable to work due to long term sickness
These measures will remove obstacles that stop businesses from investing, tackle the labour shortages that stop them recruiting, break down the barriers that prevent people working and harness British ingenuity to make us a science and technology superpower!
And, it’ll deliver £27m to fix potholes across the East of England! Something I know that motorists across some of our most rural parts of Broadland will warmly welcome!
