Gedling MP Tom Randall has welcomed the Chancellor’s Autumn Budget and Spending Review, which he said ‘will provide the foundations for a stronger economy’.
The Conservative MP also believes the latest Budget will also help working families and vulnerable households across Gedling borough with the cost of living.
He said low-income families will receive a significant tax cut now that the Universal Credit taper rate is being reduced from 63 per cent to 55 per cent
A 6.6 per cent increase in the National Living Wage to £9.50 an hour was also announced – which the government said will give a £1,000 pay rise to 2 million of the lowest paid and lifts pay restraints for public sector workers.
A freeze in fuel duty for the twelfth consecutive year, and a freeze in alcohol duty was also introduced.
Mr Randall said that businesses throughout Gedling borough will also benefit from new measures announced in the Budget.
These include, including a 50 per cent cut in business rates next year for 90 per cent of retail, hospitality and leisure – alongside a freeze of all rates.
New business rates relief will help encourage green technologies and improvements to properties, and a doubling of creative industries tax reliefs for the UK’s world-leading theatres, orchestras, museums and galleries.
Tom Randall MP said: “Despite the unprecedented challenges caused by the pandemic, this Conservative Government is getting on with the job and delivering on the priorities of the British people.
“This Budget will make a real difference to people across Gedling, helping working families with the cost of living, supporting our local businesses with their recovery, and investing in our public services so that everyone gets the world-class hospitals, schools, and police services they deserve.
“I was elected on a promise to level up and improve opportunity for people in Gedling – and today’s Budget shows how this Government is delivering on that promise as we build back better.”
Chancellor of the Exchequer Rishi Sunak said his latest Budget will deliver a stronger economy for a the British people.
He said: “One year ago, this country was in the grip of the biggest recession in 300 years.
“Thanks to our Plan For Jobs, we are today recovering faster than our major competitors, more people are in work, and growth is up. But uncertainty in the global economy means that recovery is now under threat.
“That is why this Budget and Spending Review delivers a stronger economy for the British people – strengthening our public finances, helping working families meet the cost of living, supporting businesses, delivering stronger public services, and driving economic growth.
“This is a Budget which will level up every part of the United Kingdom. It is a Budget which provides the foundations for a stronger economy.”
Local councillors have criticised the Budget and spending review over the past few days.
Deputy leader of Gedling Borough Council Michael Payne said: “I didn’t hear anything in the budget that will alleviate the pressure on normal people.
“For me, it’s almost as much about what the Chancellor didn’t say than what he did. What he didn’t say is they’re going to force council tax up through both the standard and the social care precepts.
“This is on top of food prices going up, national insurance going up, energy prices going up and fuel prices going up.
“The Budget might sound really good, but at the end of the day, it’ll be paid for by hardworking families who are already feeling the squeeze. It’ll be the highest tax burden [as a percentage of GDP] since 1949.”
