Aylesbury MP praises Autumn statement as good news for local businesses
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The Chancellor unveiled two huge tax cuts as he set out the Government’s spending plans for the coming year on Wednesday (22 November).
The main rate of National Insurance will be cut from 12 per cent to 10 per cent from January, while Class 2 National Insurance – paid by self-employed people earning more than £12,570 – will be “abolished altogether” from April.
Meanwhile, “full expensing”, which allows firms to deduct spending on new equipment from profits, will be made permanent.
The Tory MP for Aylesbury Rob Butler celebrated the Autumn Statement as “good news for residents and businesses” in his constituency.
He told the BBC Local Democracy Reporting Service (LDRS): “The Chancellor has been able to deliver on the message I’ve been giving him from local businesses – to cut their taxes, including more help with business rates. This will be a real bonus for our shops, bars and restaurants.”
The MP added: “I’m delighted that the Government is rewarding hard work at the same time as boosting local businesses so they can create more jobs for local people.”
Although the Chancellor announced huge tax cuts, he did not change National Insurance and income tax thresholds, meaning they remain frozen until 2028, which some have interpreted as a “stealth tax” impacting taxpayers over time.
The Chancellor claimed that the Government was increasing the NHS workforce and tackling smoking but was otherwise accused of neglecting the NHS in his statement.
The Liberal Democrat MP for Chesham and Amersham Sarah Green told the LDRS: “There was a deafening silence on health in today’s Autumn Statement.
“It is a no-brainer that we need people off waiting lists and back to work, yet the NHS didn’t feature in the chancellor’s statement, and it doesn’t feature in Rishi Sunak’s five new priorities.”
Buckinghamshire’s MPs also celebrated an announced increase of state pensions by 8.5 per cent to £221.20 a week from April of next year.
The Chancellor said this “honoured” the Government’s so-called ‘triple lock’ commitment to increase state pensions by whichever is highest out of earnings growth, inflation, or 2.5 per cent.
The Tory MP for Buckingham Greg Smith said he was “pleased” with the state pension rise, adding: “As the world recovers from the pandemic, these measures are a welcome step to getting Britain back on track.”
The Tory MP for Beaconsfield Joy Morrissey said she was “delighted” with the Chancellor’s statement, including the pensions announcement, support for businesses and the self-employed.
She told the LDRS: “Tax cuts for business and individuals, the lowest paid and pensioners protected. A brilliant Autumn statement from the Chancellor for the people of Beaconsfield, Marlow and the South Bucks villages.”
In statement released on Wednesday Mr Butler added: “This is only possible because of the tough decisions the Conservative Government has taken to strengthen the economy.”