Following the Chancellor’s Autumn Statement in the House of Commons, Mike Weatherley, the Conservative Member of Parliament for Hove and Portslade, has backed the Government’s financial update which highlight that the UK is the fastest-growing major economy in the world.
In his Autumn Statement, the Rt Hon George Osborne MP, Chancellor of the Exchequer, outlined future Government spending which spans across the entire economy. Mike was particularly pleased with the Ł350m investment assigned to improving the A27 corridor.
Other highlights from the Autumn Statement include:
- A cut in Stamp Duty for 98% of those who pay the tax.
- The tax-free personal allowance to be increased by a further Ł100 in April 2015, to Ł10,600.
- Children to be exempt from tax on economy flights.
- Spouses to inherit their partner’s individual saving account (ISA) benefits after death.
- An additional Ł2 billion funding for the NHS.
- Business rates to be cut and capped, with extra Help for the High Street.
- The government to clamp down on tax avoidance by multinational companies.
Commenting, Mike said: “The autumn statement included a bounty of positive measures for the country and some excellent investment for the South East. I was particularly pleased with the long-overdue investment for the A27, which will bring welcome relief to anyone who uses the busy road. Improvements such as this are possible as a result of the Government’s sound management of the economy.”