James Gray welcomes the Government’s Budget

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James Gray has welcomed the Government’s Budget for people across North Wiltshire. Because the Government has stuck to the plan with the economy, inflation has fallen from 11.1. per cent to 4.0 per cent and is predicted to fall below 2% very shortly. That means the Conservative Government have been able to cut taxes for more people and businesses in North Wiltshire. The Government announced National Insurance will be cut again. Combined with the cut at the Autumn Statement, that is a tax cut of over £900 for the average worker earning £35,400 – giving the average earner the lowest effective personal tax rate since 1975.It means a family with two earners on the average income of £35,400 each, in North Wiltshire, will be better off by £1,827 a year.

The Budget also confirmed small businesses will pay less VAT and alcohol and fuel duty will be frozen, keeping costs low. To further support economic growth, the Conservatives confirmed that half a million families will gain an average of £1,260 a year towards the cost of their childcare costs. This is thanks to a rise in the threshold for the High-Income Child Benefit Charge, rewarding parents who want to take up more work. This Budget builds on the Governments work to deliver a brighter future for Britain, with long-term economic security and opportunity: where hard work is always rewarded; where ambition and aspiration are celebrated; where young people get the skills they need to succeed in life; where families are supported, where those who have worked hard all their lives have the dignity they deserve in retirement; and, with security at home and abroad.

Commenting, James Gray said:

“The plan is working, and we must stick to it. With inflation down from 11.1 per cent to 4.0 per cent and wages growing, I am pleased that the Government are focussing on cutting the taxes that help to grow the economy. This Budget cuts taxes for business owners and families across North Wiltshire, it continues to drive down inflation to help with the cost of living and supports the public services we all rely on. This Budget also delivers new investment for sports facilities as well as additional special school places in Calne.”