BOROUGH MP Andrew Miller has hailed the Government’s Pre-Budget Report as “real help” for people and businesses to get them through the global credit crunch.
Speaking after Monday’s announcement in Parliament by Chancellor Alistair Darling, Mr Miller said: “The Pre Budget Report has set out action to help local families and businesses and put money into the economy now so we come out of this crisis sooner and stronger.
“Mr Darling has pumped £20bn into the economy, with cuts in income tax and VAT, increases in public spending projects and help for redundant staff, home-owners and small businesses.
“This positive action has only been made possible because of the strength of our economy before the credit crunch hit and is in complete contrast to the lack of action supported by the Conservatives, who merely want to let the recession run, thus putting the jobs of thousands more local people at risk.
“The Chancellor’s wide-ranging proposals will help everyone living in Ellesmere Port and Neston.”
Mr Darling’s billion-pound rescue package includes:
VAT – down to 15% until 2010
A cut for basic rate taxpayers through changes to personal allowance
An increase in Child Benefit starts from January and child element of Child Tax Credit up from April
Pensions up by £4.55 per week from April and a special payment of £60 in January to all pensioners, and those receiving Incapacity Benefit, Disability Living Allowance, Carer’s Allowance and Bereavement Benefit
Proposed major Vehicle Excise Duty rate changes for motorists delayed
Help for those facing mortgage repayment difficulties and a £775m investment in social housing
A package to support business worth £7billion, including no rise to small companies corporation tax, more generous relief for businesses experiencing losses and extended business rate exemption for empty commercial properties
Extra funds for home insulation.
Mr Miller added: “Given the worldwide forces hitting the UK economy nationally and locally, I welcome the Chancellor’s budget proposals.
“They mean real help for all people in Ellesmere Port and Neston and, once the economy is growing again, the plans tackle the public finance problems caused by the credit crunch, in a way that is fair to all.”