Bud­get will be a boost for fam­i­lies in Bucks

Buckinghamshire Advertiser - - BUSINESS -

A BUCKS MP has wel­comed the sum­mer Bud­get which she says will ben­e­fit fam­i­lies in her con­stituency.

MP for Che­sham and Amer­sham Ch­eryl Gil­lan be­lieves the bud­get, an­nounced on Wed­nes­day last week aims to re­duce the deficit and keep mov­ing to a higher wage, lower tax and lower wel­fare econ­omy, putting se­cu­rity first for fam­i­lies in Chiltern.

She said: “Work­ing peo­ple will be able to keep more of the money they earn, through the in­crease in the tax per­sonal al­lowance. This will rise to £11,000 in 2016-17, so next year a typ­i­cal rate in­come tax payer will be £905 a year bet­ter off, com­pared with 2010. The com­mit­ment is to raise the al­lowance to £12,500 by 2020.”

The thresh­old for higher earn­ers will rise to £43,000.

There will be a new Na­tional Liv­ing Wage for over 25s.

Mrs Gil­lan added: “Two and a half mil­lion peo­ple will get a di­rect pay rise.

“Those cur­rently on the min­i­mum wage will see their pay rise by over a third this Par­lia­ment (to 2020), a cash in­crease for a full time worker of over £5,000.”

There was a com­mit­ment to leg­is­late to ap­ply a re­duced rate of fuel duty to aqua-methanol, a change which was lob­bied for in Par­lia­ment by Mrs Gil­lan, speak­ing out for Zero-m, a com­pany based in Chal­font St Giles, work­ing to in­tro­duce this new, cleaner fuel.

She said: “Leg­is­la­tion is planned for the 2016 Fi­nance Bill.”

Busi­ness as a whole has seen a re­duc­tion in cor­po­ra­tion tax. Small and medium sized en­ter­prises will be able to ben­e­fit from an en­hanced an­nual in­vest­ment al­lowance, which was due to ta­per away later this year.

On an is­sue about which many con­stituents have con­tacted her, Mrs Gil­lan said that con­stituents in Che­sham and Amer­sham would be pleased that there are moves to re­duce in­her­i­tance tax on fam­ily homes.

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