Key measures in the Budget to boost growth include:
- Immediate Fuel Duty cut and scrapping of Labour’s annual fuel duty hikes
- £250m to help 1st time buyers
- 250,000 new apprenticeships and 100,000 work placements
- Cuts in corporation tax and extension of small business rate relief to boost new job creation
- Income tax thresholds increased, taking 1.1m low paid out of tax altogether and helping
all workers keep an extra £326 of their hard earned money - Increased Bank Levy, greater contribution from non-doms and crackdown on tax avoidance
Justin Tomlinson MP, “Last year’s Emergency Budget was about rescuing the nation’s finances and paying for Labour’s mistakes. Today’s Budget is about two things: reforming the economy to ensure jobs and growth for the future, and doing what we can to help families with the cost of living. I particularly welcome our decisive action to cut fuel duty, which is essential for hard-pressed motorists who have been hammered by Labour’s staggering 12 fuel duty hikes and rising world oil prices.”
