Housing and tax changes and beer goes down.
Local MP Angie Bray today welcomed the Chancellor’s Budget, which she says contains positive news for Ealing and Acton residents.
Outlining the main points, Ms Bray, Conservative member for Ealing Central and Acton, said new guarantees for home buyers will help more people to get on the housing ladder, while also encouraging more houses to be built.
By extending the home-buying scheme, buyers can put down a 5% deposit on a newly-built home with up to 20% of the cost of the home funded by a “shared equity” Government loan (interest-free for the first five years), and repayable when the home is sold.
She says there is also good news for employers looking to hire new staff, with the announcement of a new Employment Allowance that will take £2,000 off the National Insurance bill of every employer – open to businesses, charities and community amateur sports clubs.
The Chancellor scrapped Labour’s plans to increase beer duty in today’s Budget, and instead cut it by a penny, meaning beer will be 1p per pint cheaper after Sunday night. He also cancelled Labour’s planned fuel duty rise, saving 3 million motorists in London over £170 every year.
The amount people can earn before paying income tax - the personal allowance - will rise to £10,000 in April 2014. Ms Bray says this tax cut will benefit an estimated 45,814 people in Ealing Central and Acton.
In April 2014, 431 people will be lifted out of income tax, taking the total number of people in Ealing Central and Acton working but not earning enough to pay tax to an estimated 4,610.
After listening to the Chancellor’s Budget, Ms Bray said, “This Budget is good for my constituents - it’s good for London. It rewards hard-working people and their families, it helps to create jobs and it makes daily expenses a little easier in these tough times.”
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March 20th 2013