Gavin Williamson, MP for South Staffordshire has welcomed the Autumn Statement, echoing the Chancellor’s argument that it is only by working through the Conservatives’ long-term economic plan that we can achieve prosperity and security for families in South Staffordshire.
The new forecasts for the British economy in the Autumn Statement shows the Government’s long-term economic plan is working:
- Deficit will be halved this year
- British economy expected to grow by 3%
- Employment up and unemployment down – with over half a million new jobs forecast this year
The Chancellor set out the next steps in his long-term economic plan in the Statement:
- To overhaul stamp duty so that 98% of stamp duty payers pay less tax when they buy their home.
- To continue to back businesses and to create jobs in all parts of the country - with action on business rates and more help for the high street.
- We will abolish the jobs tax on apprenticeships for people under 25 to help more young people get the skills they need.
- We will raise the personal allowance, and higher rate taxpayers will also benefit – a down-payment on our promises to raise the personal allowance to £12,500 and the higher rate threshold to £50,000 in the next parliament.
- We will cut tax for families by abolishing the air passenger duty paid for children.
- And we will support savers by letting husbands and wives inherit their partner’s ISA and keep its tax free status.
Earlier this week the Chancellor announced an additional £2 billion a year for the NHS, which would go to NHS frontline services. Also announced was the National Infrastructure Plan, improving road and rail networks and flood defences, with a 6 year programme of 65 projects in the West Midlands, aimed at improving flood defences.
Gavin said: “This is excellent news for hardworking families in South Staffordshire. The fundamental reform of stamp duty will cut taxes for the overwhelming majority of people trying to buy a house here – and the personal allowance rise and change to the ISA rules back people who want to work hard and save.
“This Autumn Statement confirms the Government’s long-term economic plan is working. This matters to families here in South Staffordshire because it’s only with a strong and healthy economy that families here can have economic security for the future. We must carry on working through our plan and stay on course to prosperity.”