Today the Chancellor announced a bold set of measures to get our economy growing - something that's vital to improving people’s standard of living, as well as funding public services.
The Growth Plan, announced today, focusses on boosting economic growth by cutting taxes for families and businesses.
It’s good news that people are going to keep more of the money they earn. That’ll help families pay their bills, and businesses to invest in things like new technology and infrastructure.
But reducing the tax burden is just one of the ingredients for economic growth, and we also need to see a laser-like focus on better regulation, innovation, and crucially, boosting skills - that’s how we make sure everyone benefits from a growing economy.
This plan comes on the back of recent announcements on the cost of energy, with bills capped for families and businesses over the winter, something I know people were desperate to hear locally. The energy price freeze will save a typical household £1,000, coupled with the help for businesses’ energy costs.
We also need to recoup this investment back into the public finances later down the line, which was recognised by the Chancellor as he confirmed his commitment to fiscal responsibility in Parliament.
It’s time to get behind our new national mission, and go for growth.
