Nicholas Soames MP, Member of Parliament for Mid Sussex, has welcomed the Budget setting out how the Government will continue to secure Britain’s recovery and build a resilient economy.

The Budget is part of the Government’s long-term economic plan - a plan that is delivering economic security for families up and down the country, and which will help businesses export more, build more, invest more and manufacture more. This Budget will deliver economic stability and sound public finances. In order to continue to reduce the deficit and debt, and secure the recovery, the Government will cap the welfare budget to control spending and limit public sector pay increases.

Nicholas Soames said: “I am pleased this is a Budget designed to help savers, workers and businesses. The Government is taking decisions that will support businesses to invest, export, and create jobs – laying the foundations for sustainable economic growth. This Budget sets out the most radical reforms to saving for a generation, providing security for families to plan for their future. And it reduces taxes for hardworking people, while taking further steps to tackle tax avoidance.”

“It is a Budget for businesses and for savers but most of all it is a Budget for hardworking people. The Government is taking further action to help families keep more of what they earn and to save for their retirement.”

“The Government will reduce taxes by increasing the level of the tax-free personal allowance further, from £10,000 to £10,500 in April 2015. This will mean a tax cut for 25.4 million people. By April 2015, a typical basic rate taxpayer will pay £800 less income tax a year than that would have under Labour. This Conservative-led Government will also have lifted 3.2 million out of income tax altogether.”

“The Budget will also increase the maximum Tax-Free Childcare support available to £2,000 per year for each child, reduce the cost of long haul flights by abolishing the top two bands of Air Passenger Duty, and provide £200 million fund to repair potholes caused by the winter weather.”
“I whole heartedly support this Budget – Mid Sussex people will benefit greatly from its provisions as the economy continues to grow and expand.”