LOCAL MP Anne McIntosh has welcomed the budget announcements which she says will help families, bring relief to motorists and hauliers and create growth for businesses, both big and small.
She said: “There was good news for families who are struggling with the cost of living that the personal tax allowance will be increased from April 2012 so that no one will pay tax on the first £8,150 of their income. Together with the £1,000 rise happening this April, the Government will have taken 1.1 million low paid people out of tax altogether since coming into office. Council tax is also being frozen by all local authorities.”
She added: “Motorists, hauliers, small business and families across Thirsk, Malton and Filey will benefit from the one penny per litre cut in fuel duty along with the scrapping of Labour’s fuel duty escalator which is to be replaced with a fair fuel stabiliser, paid for by a tax on oil and gas production which will raise £2bn a year. Fuel duty is six pence lower than it would be under Labour.
“Small businesses will benefit the extension of the small business rate relief holiday until October 2012, and from the scrapping of burdensome regulations that cost businesses millions every year and the moratorium on all new regulation for our smallest companies.”