It was a busy week in Parliament as we spent Monday through to Thursday debating the budget which the Chancellor announced on Monday. As a Parliamentary Private Secretary to the Treasury I got to see the process from the inside and then make sure my colleagues had briefing documents giving them details on key budget announcements and what it meant to their constituency.
The budget was welcomed by many with more money available to invest due to a large increase in the number of people working. Since 2010 there are 3.3 million more people in work, with unemployment at the lowest rate since 1975. This record is the envy of many other countries and is driving our economy as more revenue is collected in taxes.
With more money collected we have more money to spend without increasing our debt levels. The number one spending priority is the NHS which will receive an additional £7billion next year growing to £20.5 billion every year from 2023/4. It was also announced that more money would be made available for mental health services which will be provided in each A&E plus children and young people’s crisis teams will be established throughout the country as well as a 24/7mental health support line.
There was additional investment in roads, rail and broadband all of which I hope will benefit Chichester District residents.
There was also good news for the High Street with business rates cuts by a third for smaller shops and pubs, plus a freeze in duties on spirits, beer and cider.
The big news for workers was the increase in the tax threshold from £11,850 to £12,500 which will be implemented from April 2019 and will mean a tax cut for 32 million people across the country. There were schemes to support more home building and to improve the environment however we will have to wait until December to receive the local government settlement where we have pushed for more funding to support West Sussex County Council.
