On March 23rd, the Chancellor delivered this year’s Budget, focusing on two things: reforming the economy to provide for more jobs and growth for the future, and doing what we can to help families with the ever rising cost of living.
Key measures include:
- Simplification of the Tax System
- Streamlining the planning process
- Expanding apprenticeships and work experience
- Cutting Fuel Duty and introducing a Fair Fuel Stabiliser
- Giving help for first time buyers
- Providing £100 million to repair potholes
- Cracking down on Tax Avoidance
I chose to speak shortly after the Chancellor has made his announcements to raise in the House what I believe to be a most fundamental issue in getting the economy on its feet; creating and supporting a strong Business culture in Watford and nationally.
With over 3,000 businesses in Watford, each employing an average of 8 people, we are setting a good standard and I was pleased to see so many measures in the Budget designed to support such businesses. I believe that we now have a duty to keep this growing and to encourage people to join businesses and create a culture in the UK that makes people want to become entrepreneurs. We need to see a greater emphasis on training young people in manufacturing, create a new generation of skilled workers and make sure that our banks are lending to business again.
I believe that this Budget will help create long term confidence for small business. It was also a Budget for larger business, given the encouraging Corporation Tax measures. However, more importantly it is a Budget for ordinary people and their prospects. I believe that this is the best Budget that we could have, given the mess that the Government were left.