Christopher Pincher Welcomes Budget for Small Business
Tamworth’s MP, Christopher Pincher, has welcomed George Osborne’s 8th Budget delivered this week as “a budget for small business and savers.”
He said the measures it contains will help people keep more of their own money to spend as they wish.
Some of the Budget highlights unveiled by the Chancellor include:
- Increasing the business rate threshold taking thousands of small businesses out of paying any business rates at all
- Abolishing the national insurance contribution for the self-employed saving many sole traders £130
- Turning every school, including primary schools, into academies so their head teachers have more control over budgets
- Raising the personal allowance before paying any income tax to £11,500 from 2017 – typical taxpayers will pay £1000 a year less than they did in 2010
- Introducing a life time ISA for young people under forty so that the government will add £1 for every £4 that person saves
- Increasing the ISA envelope from £15,000 to £20,000
Mr Pincher said, “This is a serious Budget for hard-working families, for savers and small businesses. It will help keep our economy on track and ensure we grow faster than any other major economy.
“No wonder Labour’s former Shadow Chancellor has warned his leadership that there is “no magic money tree.” Sadly, Jeremy Corbyn will not listen to him and wants to just spend, spend, spend, the very habit that got us into so much trouble last time under Labour.
“This will be a helpful Budget for Tamworth residents and I look forward to supporting its provisions in the House of Commons. I hope sensible Labour MPs will do the same.”
