Alistair Burt warmly welcomed today’s Budget which provides support for families and businesses in NE Beds and places investment in the country’s long-term future.

Alistair said:

“This is a Budget that backs families and businesses in my constituency with tax cuts for workers, small businesses and first-time buyers. We are also investing in our public services with £6.3 billion of new funding for the NHS and more money for schools to boost maths and computer science teaching.

I am sure that my constituents will welcome the freeze in fuel duty for both petrol and diesel vehicles for the eighth year in a row. This has saved the average car driver £850, and the average van driver over £2,100, since 2010.

I particularly welcome the abolition of stamp duty for all first time buyer purchases up to £300,000. This is alongside an additional investment in housing, taking the total this Parliament to £44 billion.

We are helping our 5.5 million small businesses by bringing forward by two years the planned Business Rates switch from RPI to CPI to April 2018. By 2022-23 this will save the average high street shop £800, the average pub £1,480, and the average restaurant £1,680 and is worth £2.3 billion to businesses over the next five years.

Continuing the £1,000 discount for pubs in England with a rateable value of up to £100,000 is also welcome news for pubs in NE Beds.

Since 2010, there are 86,500 more businesses and 296,000 more people in work in the East of England - the second highest employment rate of any region. This Budget builds on that success and on the strengths of the British economy”.

 

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