Today Gavin Williamson MP welcomed the action in the Budget to help people in South Staffordshire.
Key measures included the largest ever increase in the personal allowance; a cut in corporation tax, meaning we will have the lowest rate in the G7; the abolition of the 50p rate of tax which raised next to nothing; and reforms to Child Benefit which mean that only the top 10 per cent of earners will lose out.
Commenting, Gavin Williamson MP said:
‘This Budget was a radical, reforming Budget, and will provide real help to families and businesses in South Staffordshire.
‘The increase in the income tax personal allowance is great news for hardworking families in South Staffordshire. It means that over 74,000 people in the West Midlands are better off by up to £220 per year, and 176,000 low earners will have be taken out of tax altogether.
‘It is right that the rich have to pay their fair share, so I am pleased that at the same time as scrapping the economically damaging 50p tax rate, we are cracking down on tax avoidance and raising other taxes on the wealthy so they pay five times as much.’
‘I also welcome the Chancellor’s decision to simplify small business taxes and cut corporation tax further still, making the UK one of the most competitive places to invest and do business, and will provide a boost to businesses in South Staffordshire.’