Mark Lancaster MP

18 MAR 2015

Budget: Proof we're on the right road

Both Iain Stewart and I are delighted with the announcements made in today's budget, the last budget before the General Election.

The Chancellor made some big announcements today including; the Personal Tax allowance rising to £11,000, the abolishment of the annual tax return, 1p off a pint of beer and a 2% cut to cider duty. The freezing of fuel duty, a rise in the minimum wage and the introduction of the new Help to Buy ISA for those saving for a home of their own, is certainly good news to come out of today's budget.

Due to the UK's strong economic picture, the Chancellor was also able to announce positive news on the budget deficit, stating it would fall earlier than expected in the coming years ahead.

Milton Keynes South MP Iain Stewart said, "I am delighted with today's budget. It couldn't be any clearer that our long-term economic plan is working and the UK is on the right path. We have got the deficit down, we have record employment and wages are increasing. In an unstable world, we have started to build one of the world's strongest economies."

Like Iain, I believe this budget is proof that our plan is fixing our economy. I was very pleased to see the raise in Personal Allowance, taking another 4 million out of paying tax altogether. This will help families across Milton Keynes keep more of their hard earned wages.

The Help to Buy ISA is extremely welcome news. With the great success of Help to Buy in MK, with now over 800 families having taken advantage of the scheme, these measures will make it easier to save for their deposit and is clearly a positive move in the right direction.

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