Suella Braverman MP has welcomed the Government’s Budget for Growth, focused on delivering on the Government’s priorities to halve inflation, grow the economy and reduce debt so we can create better-paid jobs and opportunities across the United Kingdom, guaranteeing a better future for the next generation.
Despite enormous global challenges, the UK economy is proving the doubters wrong. The difficult decisions taken by the Chancellor to restore stability mean that we have avoided recession and growth is forecast to return.
Yesterday, the Government delivered the Budget for Growth by focusing on the Chancellor’s four pillars of Enterprise, Employment, Education and Everywhere. The Budget sets out a comprehensive plan to remove barriers to work, boost business investment and support economic growth. This is being achieved by:
- Extending 30 hours of childcare a week to working parents of children aged 9 months to 4 years
- Paying Universal Credit childcare costs up front rather than in arrears
- Introducing reforms to the childcare sector including changes to 2-year-old staff: child ratios from 1:4 to 1:5
- Introducing a £25 billion three-year tax cut for business investment
- Increasing the annual pension allowance to £60,000 and abolishing the Lifetime Allowance
- Establishing a new Universal Support programme for disabled people and the long-term sick
- Abolishing the Work Capability Assessment and increasing the Administrative Earning Threshold to 18 hours
- Extending the Energy Price Guarantee at £2,500 for three months
- Freezing fuel duty for a thirteenth year, saving the average driver around £200
- Delivering a Brexit Pub Guarantee so draught duty will always be less than duty in supermarkets
The Spring Budget will remove the obstacles that stop businesses investing, tackle the labour shortages that stop them recruiting, break down the barriers that stop people working, and harness British ingenuity to make us a science and technology superpower.
The Chancellor has also committed £33.1 million across the South East to fix 662,000 potholes, increasing road safety for motorists.
Recognising the vital role our hospitality sector plays in growing the economy, the Draught Relief announced at the Budget will benefit 5,150 across the South East and help our pubs to prosper.
This is a Budget for growth and sets the conditions to deliver on the Prime Minister and the Chancellor’s priorities: to halve inflation, grow the economy and reduce debt to deliver better living standards for everyone across the country.
Commenting, Suella said:
“The Chancellor has set out a clear plan to help the economy grow this year. Through his package of measures, we will achieve long-term, sustainable economic growth for everyone in the UK by breaking down the barriers to work, boosting business investment, and tackling labour shortages.
“It is extremely positive that inflation has peaked, economic growth is returning to the UK and we have avoided recession.
“I’m encouraged to see the measures to help people back into the workplace including the extension of free childcare for working parents and the ending of pension caps. From more money to fix our roads to backing local regeneration, the Chancellor’s Budget will benefit families in Fareham and right across the country.”
Commenting, Chancellor of the Exchequer Jeremy Hunt said:
“We are working hard to deliver on our priorities to halve inflation, grow the economy and reduce debt so we build a stronger and more innovative economy that will guarantee a better future for the next generation.
“This Budget tackles the two biggest issues the UK economy must overcome to grow – getting investment into our economy and filling one million job vacancies.
“It does this by delivering the four pillars – Enterprise, Employment, Education and Everywhere – that includes delivering for every region across the UK.”
