There’s much to welcome in this budget, not least a tax cut that will mean 1,854 people in Mid Kent are taken out of income tax altogether. A typical basic-rate tax-payer now pays £1,000 a year less than when the Conservatives came to office in 2010.
I’m pleased that beer tax has been frozen, as this is something I campaigned for. Shepherd Neame is the biggest employer in my constituency and there are several other local brewers and lots of pubs. This is good for local jobs, good for cherished village pubs, as well as good for beer drinkers!
I have also campaigned for a better deal for Kent’s schools. Every child deserves a great education and it’s not right that some children are missing out on studying important subjects because of funding. The Chancellor confirmed extra money to speed up the introduction of fairer funding for schools, and also committed £285 million a year to help schools stay open longer and offer a wider range of activities for pupils. All this is good news for local schools.
The freeze in fuel duty is important for rural areas like Mid Kent, and will save the average driver £75 a year. The Government is supporting businesses too, cutting Corporation Tax, taking hundreds of small businesses out of business rates by raising the threshold, and helping larger businesses by raising the level at which the higher rate of business rates kicks in from £18,000 to £51,000
As a member of the Health Select committee, I’ve been calling on the Government to take action on excessive sugar consumption for some time. This country is facing a childhood obesity crisis, with one in five children leaving primary school overweight. So I’m glad the Chancellor has listened to me and campaigners like Jamie Oliver, and introduced a sugar levy on the soft drinks industry so they reduce the sugar content of their products. This levy will fall on manufacturers, not consumers, and the revenue raised will be spent on school sports.
But it’s important to remember that these are turbulent times, and although we are growing faster than any other G7 country, growth is slower than we expected in November. Economic stability is so important, with peoples’ jobs and livelihoods dependent on it. The Government inherited a huge deficit in 2010, and we are still having to deal with that, gradually reining in public spending. The Chancellor made it clear in today’s budget that he’s determined that deficit and the debt that builds up with it shouldn’t be passed on to future generations. The Government will have to continue to make savings and can’t be as generous as we might like it to be. That way, we’re better prepared for future economic shocks and will have a strong enough economy to pay for the public services we all value, as well as passing on healthy finances to the next generation.