Sherwood MP hails budget announcements

Mark Spencer MP.

Mark Spencer MP.

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MP for Sherwood, Mark Spencer, has welcomed today’s budget which he says will see 900 people in his constituency taken out of tax altogether, and tax reductions of around £900 per year for 44,000 constituents.

Mr Spencer said: “I’m really pleased that the Chancellor has pledged to support the poorest working people, with wage rises and tax cuts that will mean more money in their pockets.

“In Sherwood over 40,000 people will have a tax cut, on top of the tax cuts that have been brought in every year as the income tax threshold rises.

“We’re simplifying the system so that everyone just keeps more of the money they earn, with less bureaucracy.

“We’ll see working age benefits frozen so that wages will rise faster than benefits, and it will really pay to go to work. For those on the minimum wage, they’ll see their wages increase to £9/h by the end of the Parliament, which is a massive rise and actually significantly more than Labour had promised during the election.

“In Sherwood people tell me that they are frustrated that they go out to work hard, whilst other people who don’t work can still have the same lifestyle.

“It makes them question the point of going to work. We’re changing that! We’re simplifying the system so we don’t tax you just to give it you back through tax credits, we simply won’t take the money from you in the first place.

“We’re making sure that going to work will mean you have more money in your pocket for your efforts through tax cuts and wage rises, and we’re reducing the outgoings too through a freeze on fuel duty and cutting the cost of childcare, amongst other measures.”

Mr Spencer also hailed the fuel duty freeze, a new fund for road improvements and increases in the levels of free childcare for working parents.