Local MP Graham Stuart has welcomed the boost for workers, businesses and parents that the Chancellor Jeremy Hunt delivered in his Spring Budget yesterday.
The Chancellor has announced the creation of a new Alternative Provision Free School in Beverley. Graham has written to the Education Secretary to get more information about this proposed school.
Building on the tax cuts that he outlined in November, the Chancellor announced that he would be reducing the National Insurance rate by a further 2% from next month. This means that the average worker in Beverley and Holderness will be more than £900 better off each year, allowing them to keep more of their hard-earned money.
From Beverley to Withernsea we are fortunate to have many great pubs and businesses which are at the heart of our communities. By freezing alcohol duty until February 2025 and increasing the VAT threshold for small businesses to £90,000 they will receive the additional support they need to continue to thrive.
Graham also welcomed the news that parents will receive more support as they work hard to give their children the best start in life. The Chancellor announced that he will be investing an extra £500 million in childcare and that more parents will receive child benefit payments for longer.
Chancellor Jeremy Hunt said: “Our Budget cuts taxes to reward work, supports small businesses and helps more parents with the cost of childcare to grow the economy and fund public services. By sticking to the plan, we are delivering a stronger economy to build a better future for all.”
Graham Stuart commented: “Local businesses, hard-working people and supportive parents are the backbone of our economy. That is why I am thrilled that more of their money will stay in their pockets which they can use to support their families and our high streets.”
