The Chancellor’s Summer Budget, announced today (Wednesday, July 8), has been welcomed by Bexhill and Battle MP, Huw Merriman.
He said the Budget would help clear the country’s deficit, keep moving to a higher wage, lower tax and lower welfare economy and put security first for families in his constituency.
Chancellor George Osborne said forecasts show Britain will be the fastest growing major advanced economy for a second year in a row, but the deficit was still too high.
Under the Budget the Government said the new National Living Wage will mean two and a half million people will get a direct pay rise.
Those currently on the minimum wage will see their pay rise by more than a third this Parliament, a cash increase for a full-time worker of more than £5,000, Whitehall said.
There is further support for working people with an increase in the tax-free personal allowance, so someone will be able to earn £11,000 before paying any income tax at all, the Chancellor added.
The Budget also includes a reduction on Corporation Tax by 18 per cent and a pledge to spend two per cent of the UK’s national income on defence every year of this decade.
Mr Merriman said: “This is a Budget that delivers security for working people in the Bexhill and Battle constituency and keeps Britain moving from a low wage, high tax, high welfare economy to a higher wage, lower tax and lower welfare country.
“The new National Living Wage and tax cuts for working families will boost take-home pay for those who work hard and want to get on in life – meaning more financial security.
“Reducing the tax burden on businesses will create jobs and give more people the security of well-paid work, and having a strong economy means we can invest in our world-class NHS and meet our defence commitments, helping families across the country feel more secure in their homes.
“The economic security of a country that lives within its means. The financial security of lower taxes and a new National Living Wage. The national security of a country that defends itself and its values. This is a Budget that puts security for families in Bexhill and Battle first.”
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