TREASURY MINISTER HAILS BUDGET AS GOOD NEWS FOR SMALL BUSINESSES, OUR ARMED SERVICES AND NHS.

29th October 2018

CENTRAL DEVON MP Mel Stride who also serves as a minister in HM Treasury has welcomed the budget delivered by Chancellor of the Exchequer Philip Hammond on Monday 29th October, citing it as a “major boost” for small businesses, our armed services and our NHS. He also praised the new UK digital services tax on revenues of tech giants from 2020 as vital to ensuring that large corporations pay their fair share of tax.

Mr Stride, who as Financial Secretary to the Treasury worked closely with the Chancellor on the budget, said:

“Today’s budget delivered the Government’s promise to provide £20.5billion more funding for our NHS – an average real growth rate in the NHS budget of 3.4% a year. It will also support local councils with an additional £650million for social care, £84million for children’s social care programmes over five years and £420million for fixing potholes – funding which will be especially welcome for rural counties like Devon. A one-off boost of £400million for our schools will provide around an injection of £10,000 for our primary schools and £50,000 for our secondary schools.”

Mr Stride also welcomed measures to help families with the cost of living, adding:

“The National Living Wage will increase by nearly 5% to £8.21 an hour, delivering a £690 annual pay rise to a full-time worker, and the amount a worker can earn before paying income tax will rise to £12,500, saving the average tax payer £1,205 in Income Tax compared to 2010. Fuel duty will be frozen for the ninth consecutive year – another move which will benefit rural counties where the majority of families rely on their cars.”

ENDS

Notes to Editors

Photo: Mr Stride sat beside the Chancellor of the Exchequer as he gave his Autumn Budget on Monday, increasing public spending on our NHS and armed services and reducing business rates for small businesses.

For more information please contact Chris Yeo via cjyeo@hotmail.co.uk.
For more from Mel visit www.melstridemp.com or follow him on twitter @MelJStride