21 March 2012
West Worcestershire MP Harriett Baldwin today welcomed the budget which she described as supporting growth and rewarding work.
Harriett commented: “I know that people across the county will be pleased with the measures announced today by the Chancellor in a radical, reforming budget.”
“The budget lifts the lowest paid out of tax altogether with the largest increase in the personal tax allowance for thirty years . Anyone earning £9,205 or less from April 2013 will pay no income tax at all. Since the election, this Government has lifted two million people, mainly women, out of tax altogether. This is a 100 per cent tax cut for the low paid. This increase in the personal tax allowance also benefits 24 million ordinary families with a basic rate taxpayer gaining £220 every year.
“I am pleased that the Chancellor was able to remove the cliff edge for better off families who receive child benefit. No-one making less than £50,000 will now lose child benefit.
“The budget also unashamedly backs business while sticking to the plans to deal with Labour’s debts. We’ve saved more than £30 billion just in interest bills alone with credible plans to deal with the deficit.”
“The budget pays for tax cuts for the many by putting a limit on tax relief for the wealthy, closing the stamp duty loopholes and increasing stamp duty on properties worth over £2 million. Only one per cent of these are in the West Midlands.
“While many of my constituents would have liked to see more from the Chancellor on fuel duty, which is now 6 pence lower than it would have been, the measures on the personal tax allowance and business taxes will benefit almost all of my constituents, not just those who drive.
“There is also great news that the county's LEP will get £1.8 million more money to invest in infrastructure projects through the Growing Places fund.
“Britain is becoming one of the most competitive places in the world to do business and next week’s export fair at Worcester Bosch will show that Britain and Worcestershire are open for business.”