Today, local MP, Sir Alec Shelbrooke, has supported the Chancellor's most recent budget, which contains tax cuts for working people and further support for businesses and our public services.
27 million working people will benefit from a further 2% cut to National Insurance Contributions, worth £450 for the average earner. Combined with the cut announced in the last Autumn Statement, an average earner will keep over £900 more of their hard earned money each year.
2 million self-employed workers will also benefit from a cut to Class 4 NICs from 9% to 6%, a cut of around £650 for an average earner.
Families will also benefit through an increase to the threshold in which Child Benefit is withdrawn by £1,260, as well as measures to end unfairness for single earner families.
Motorists will benefit from a maintenance of the 5p cut to fuel duty, which is £3.1 billion tax cut for drivers.
The hospitality industry and pubs will also benefit from another freeze to alcohol duties.
A new duty on vapes will help to protect children from the harms of vaping, and reforms to the NHS - backed with £5.85 billion of investment - will improve productivity, reduce bureaucracy and cut waiting lists.
Commenting, Sir Alec said, "I welcome the Chancellor's announcement of further tax cuts and further investment in British businesses and our public services. We all recognise that external pressures, such as the war in Ukraine and recent pandemic, have rocked the economy, but I am pleased that the Government's sensible and reasonable economic approach has meant that we have emerged from these crises in a strong position - stronger than that of our counterparts on the European continent - and mean that we can now look to cut taxes for working people".
