Coun Tony Dobson
CONSIDERING the budget as just been announced recently I thought I would pick out some of the good news that really affects residents of Hyndburn.
The Chancellor will help small shops by cutting business rates by a third for all retailers in England with a rateable value of £51,000 or less. That will mean an annual saving of and up to £8,000 for up to 90pc of all independent shops, pubs, restaurants and cafes.
Mr Hammond announced £675m of co-funding to create a Future High Streets Fund to support councils to draw up plans for the transformation of their High Streets. Mr Hammond will allow them to invest in the improvements they need and to facilitate redevelopment of under-used retail and commercial areas into residential.
The government plans to introduce a UK Digital Services Tax. Mr Hammond stresses it is not an online sales tax on goods bought online and will only be paid by profitable firms that have at least £500m a year in global revenues. There will be a consultation first before the tax comes into effect in April 2020. It is expected to raise more than £400m a year.
The government will axe any future PFI deals and announces an extra £1bn for Universal Credit over five years to fund extra protections for claimants moving over to UC. Work allowances in UC being increased by £1,000, at a cost of £1.7bn. (Work allowances are what people can earn before they start to lose benefit.)
Funding the Prime Minister’s NHS commitment as also been fully-funded, the cash settlement that was set out in June – which equates to £20.5 billion more in real terms by 2023-24, and an average real growth rate in the NHS’s budget of 3.4 per cent a year.
£400 million more for schools this year allocating £10,000 to primary and £50,000 to secondary school in Hyndburn.
Fulfilling promises on income tax one year early is also welcome so people keep more of what they earn. A raise in the Personal Allowance to £12,500 one year early, saving a typical basic rate taxpayer £130 compared to 2018-19 and £1,205 compared to 2010-11. Nearly 1 million fewer
people will pay the higher rate of income tax.
Supporting our county council with an additional £1 billion of funding with £650 million for social care, £84 million for children’s social care programmes over five years and £420 million for potholes this year.
Increasing the National Living Wage by nearly 5 per cent, from £7.83 to £8.21. This will deliver a £690 annual pay rise to a full-time worker, taking the total annual pay rise since its introduction to £2,750.
Tackling problem debt and payday lenders with a No-interest Loan Scheme. The government will conduct a study looking at how an Australian-style no-interest public loan scheme could work in the UK. We will also increase the ‘breathing space’ period to protect those with problem debt from creditor action from six weeks to 60 days.
Freezing fuel duty for the ninth year, saving the average car driver a cumulative £1,000 by April 2020.
Freezing beer, cider and spirits duty for another year, supporting patrons of the Great British pub.
Keeping Air Passenger Duty for short haul flights at current levels. Shorthaul rates will not rise for the eighth year in a row, benefiting 80 per cent of passengers and keeping the cost of the family holiday down.
Rolling out the 26-30 railcard on a permanent basis, giving young people a third off their fares.
£2 billion more per year for mental health. The long-term plan for the NHS will commit further funding to help achieve parity of esteem between mental and physical health services. It means anyone experiencing a crisis can call NHS 111 24/7, more mental health ambulances, increased community support and comprehensive support at every major A&E by 2024.
Introducing a new tax on plastic packaging which does not contain 30 per cent recycled plastic. We will consult on the design of this new tax, which will encourage the manufacture of sustainable packaging.
On the whole some great news for Hyndburn and you our residents.