STEPHEN Metcalfe, local MP for South Basildon and East Thurrock, praised the Chancellor’s budget at a breakfast meeting this morning organised by local accountants, Rickard Keen.
Mr Metcalfe, who addressed a group of local business men and women at the post budget business breakfast, said that the budget will help everyone, whether they are low earners, families, motorists or employers in South Basildon and East Thurrock.
Amongst the announcements, the local MP particularly welcomed the raising of the personal allowance, the scrapping of the fuel duty escalator and the introduction of the employment support allowance.
By raising the personal allowance, those on low incomes can now earn £10,000 before any income tax has to be paid. The tax cut will benefit an estimated 39,443 people in South Basildon and East Thurrock bringing the total lifted out of tax completely to 4,012.
Further savings will be made by the Chancellor’s decision to scrap fuel duty, which will put an extra £7 into the pockets of the average family when they fill up their car. Over 5.6 million motorists in the South East are set to save over £170 year. Fuel duty will now have been frozen for nearly three and half years – the longest freeze in duty for over 20 years.
The Employment Support Allowance is also great news for South Basildon and East Thurrock.
This is a bold set of tax cuts for businesses and employers which will take £2,000 off the National Insurance bill of every employer whether they be a business, charity or community amateur sports club. This will help 140,000 employers in the South East, taking 70,000 out of having to pay any tax on jobs at all.
Mr Metcalfe commented: “The Chancellor made some fantastic announcements that will put money back into the pockets of people in South Basildon and East Thurrock. Fuel will be 13p per litre lower than if Labour were in power, businesses will have what they need to hire, expand and grow, and those on the lowest incomes will have more money in their pockets now that the income thresholds have risen.“
“Let’s not forget that these announcements come in the wake of further good news this week. On Tuesday the Treasury also announced plans for tax free child care in 2015. This will be worth up £1,200 a year for every child under the age of 12.”
“The message is clear. This Government is for hard working people. We have listened and responded and I look forward to seeing people in South Basildon reap the benefits.”