Delighted to be in the chamber of the House of Commons today for the budget statement from the Chancellor.
Here are some of the key measures that have been announced
National Living Wage - increased by 6.6% to £9.50 an hour
Universal Credit – making work pay by cutting the taper rate by 8%
Public sector pay – freeze to be lifted
Cost of living - £500m Household Support Fund for the most vulnerable
Young People – an extra £4.7 billion for schools & £620m for early years
Healthcare – £41 billion extra for 40 new hospitals and 50,000 more nurses
Infrastructure - £100 billion investment in roads, railways, and broadband
Business – 50% business rates cut for retail and hospitality
Housing - £11.5 billion for 180,000 affordable homes
Alcohol duties – draught beer and cider rate cut by 5%
Fuel duty - frozen
These measures have been made possible by the UK’s strong economic growth, rising wages, and lower unemployment – thanks to the Government’s responsible actions to date.
The commitments the Government are making are clear – to help working families meet the cost of living, support businesses, and improve our public services – all whilst reducing national debt and strengthening public finances.