Yesterday saw our Chancellor, Jeremy Hunt, unveil the Government's Autumn Statement in the House of Commons.
The Chancellor announced the biggest set of tax cuts for working people and British business since the 1980s to get Britain growing. As well as increasing the National Living Wage, the freezing of Alcohol Duty, investment in manufacturing and so much more brilliant news to help people.
Not only as an MP, but as a Minister in the Department for Work and Pensions, I am so thrilled that after countless hours of hard work and late meetings with colleagues, we will be increasing housing support for low income renters. This is a topic that is really close to my heart and I have worked so hard to achieve this alongside an amazing DWP team.
🎤 "An Autumn Statement for a country that has turned a corner"
Thanks to the stability that the progress on our 5 priorities has achieved, we are now able to focus on the long-term decisions required to strengthen our economy.
That is why the Chancellor is focused on driving growth in the decade ahead, with the biggest package of tax cuts to be implemented since the 1980s, while getting borrowing lower and inflation falling. These supply side tax cuts are what a Conservative approach to economic growth looks like.
We are taking the long-term decisions to reward hard work and boost investment, helping to grow the economy, reduce the debt and help return inflation to its 2% target.
Below are just a few of the over 100 brilliant measures put in place to boost the economy and support residents:
- 🏡 Unfreezing Local Housing Allowance - 1.6million households will receive an average of £800 a year
- ✂️ National Insurance Cut - A saving of over £450 for the average worker
- 💰 Uprating working age benefits by 6.7% - seeing 5.5million households on Universal Credit gaining on average £470
- 🍻 Pub Guarantee - Taxes on alcohol have been frozen for another year
- ⬆️ National Living Wage Increase - A rise of 9.8% to £11.44 an hour, now applying to all aged 21 and over
- 🔒 Triple Lock Guarantee - An 8.5% rise in the state pension worth over £900 a year
- ⚡ £1billion for renewable energy - Helping us meet our Net Zero ambition and increase our energy security
- 🏘️ £3billion to Help Build New Homes - Helping the younger generation onto the housing ladder
- 📈 £20billion Extra Business Investment - Enabling better jobs and better pay for the future.
