WEST WORCESTERSHIRE MP Harriett Baldwin has welcomed the Chancellor’s ‘bold’ budget offering further income tax cuts for hardworking people and delivering on the key election promises.
The Summer Budget set out measures to increase personal allowances meaning a typical rate income taxpayer will be £905 better off compared with 2010.
Higher rate of tax will increase from £42,385 to £43,000, saving the typical higher rate taxpayer £142 and lifting 130,000 people out of the rate altogether.
The Summer Budget also introduced a new National Living Wage for over 25s. Those currently on the minimum wage will see their pay rise by over a third this Parliament, a cash increase for a full time worker of over £5,000.
Harriett commented: “The new National Living Wage combined with these income tax cuts are excellent news for hardworking Worcestershire people in and shows we will deliver what we promised.
“I am sure that many of our local businesses will welcome the commitment to increased spending in defence and 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 West Worcestershire first.”