Conservative group leader of Wokingham Borough Council Pauline Jorgensen issued the following statement in regards to yesterday’s Budget :
“I am pleased that this Budget rewards hard work by cutting taxes, supporting local families in the Earley and Woodley Constituency, and freezing fuel duty to help motorists and local businesses.
I was delighted to meet with the Chancellor last month and show him some of our local businesses in Woodley. It was clear, on talking to him, that the Chancellor is committed to supporting small businesses and I am pleased that the Government has raised the VAT threshold for small businesses from £85,000 to £90,000.
In January National Insurance Contributions were cut. In this Budget, we have seen further cuts meaning that hard-working people of Earley and Woodley will save £900 a year on average.
I am particularly glad that the Chancellor is correcting an unfairness in the Child Benefit system. Previously, two parents earning £49,000 a year could receive full Child Benefit while a single earner on just £50,000 started losing their Child Benefit. We are raising the threshold for the High Income Child Benefit Charge from £50,000 to £60,000 as well as halving the rate so that it is not paid in full until you earn over £80,000. Average savings of around £1,300 will be made by nearly half a million families next year as a result.
The government is also supporting the most vulnerable. So far Wokingham Borough has received more than £ 1 million and Reading Borough £2.3m, from the Government’s Household Support Fund, to help local people with the cost of living. The government is continuing to provide this support for those who need it as inflation continues to fall, providing an extra £500 million. The Household Support Fund can help residents with the cost of essentials such as food and utilities. Any residents who are struggling should find out if they are eligible for help by contacting Citizen’s Advice.
There have been challenges but there are reasons to be optimistic: inflation has more than halved from 11.1 percent to 4 percent, the economy has performed better than forecast, wages are rising, mortgage rates are starting to come down, and the economy has outperformed our European neighbours.”
The intentions of Keir Starmer and Labour are clear. They want to increase your taxes. While the Conservatives will always support hard-working people, families, and businesses.”
Wokingham Conservatives
Learn more about Wokingham Conservatives here
