Kate Kniveton MP has welcomed the Chancellor’s Autumn Statement this week, taking the long-term decisions to needed to strengthen the UK economy and give the largest ever tax cut for workers.
With inflation falling, and global economic conditions stabilising, the Government is now able to take the long-term decisions required to strengthen the economy and build a brighter future for people across Burton and Uttoxeter.
In the Statement, the Chancellor, Jeremy Hunt, announced a tax cut for 2,480,000 working people in the West Midlands, saving workers an average of £324 a year. In addition to this, the Government is going further with the cost of living to support 1.6 million low-income families with an increase to their housing benefit and have announced the National Living Wage will be boosted by the largest ever cash increase, ending low pay and ensuring hard work is rewarded.
To back business, the Government announced full expensing will be made permanent. That means businesses have their taxes cut every time they invest in the UK; this is an £11 billion a year tax cut. Businesses across Burton and Uttoxeter will also welcome a cut to their business rates.
Alleviating pressure on the hospitality sector was a key priority for Burton and Uttoxeter’s Member of Parliament ahead of the Autumn Statement. Burton is the capital of British brewing, and the success of pubs and brewers is critical to the wider success of the local economy. The Chancellor freezing Alcohol Duty, extending business rates relief to 2025, and extending the Retail Hospitality and Leisure Relief for a further year, will all be announcements welcomed by the industry.
Kate Kniveton MP has also welcomed measures in the Autumn Statement which will help influence future Government policy and support victims of domestic violence, ensuring no one feels trapped in an abusive relationship because of financial pressures. Firstly, the Government will make £10 million of additional funding available for projects that aim to understand the impacts of domestic abuse on the labour market, support victims of domestic abuse in the workplace or prevent victims experiencing further abuse.
Secondly, the Government will also provide £2million of additional funding to expand the Flexible Fund, which trials an innovative new approach to provide one off payments to victims of domestic abuse. This support will reduce the financial pressure on victims to return to their abuser and will enable victims to set themselves up sustainably, for example by securing long term accommodation.
The Government is making huge progress in tackling the long-term economic challenges facing the UK meaning a more dynamic economy that delivers prosperity across the United Kingdom.
Commenting, Kate Kniveton MP said:
“This Government is making significant progress in tackling the immediate pressures in the economy, such as reducing the rate of inflation to help people across Burton and Uttoxeter with the cost of living. However, I know many residents continue to face concerns with the cost of living. That is why the measures announced by the Chancellor, such as the cut in National Insurance, are so welcome and will make a difference to thousands of people across East Staffordshire.
“I also welcome the measures announced by the Chancellor to support our brewing and hospitability sector. Having campaigned to the Treasury myself for additional support to Burton’s biggest employers, I know our local brewers and publicans will be delighted with this news.
“When I stood for election, I said that I would be a voice for all victims and survivors of domestic abuse. I am pleased that the Chancellor has announced two further funding measures which will help ensure that better financial support is available to survivors of domestic abuse and victims needing to escape an abusive home is of vital importance.”
Commenting, Chancellor of the Exchequer Jeremy Hunt MP said:
“With inflation falling, and global economic conditions stabilising, we are now able to turn our attention to the long-term decisions required to strengthen our economy and build a brighter future.
“Our Autumn Statement for Growth takes those long-term decisions to reduce debt, cut tax, reward hard work and back British business right across the country.
“By doing so we are making huge progress in tackling the long-term economic challenges facing the UK so we can build a more dynamic economy that delivers prosperity across our United Kingdom.”
