Dartford MP Gareth Johnson welcomed the latest budget set out by the Chancellor of the Exchequer George Osborne.
“This was a common sense budget that protects the recovery and helps build on the progress we have made in turning around the financial state of the country.
“I am really proud to be part of the treasury team this year and think the positive signs in the economy will lead to a brighter future for residents and businesses in Dartford.”
Some of the key points of the 2015 Budget are:
- An increase in the tax-free personal allowance in April 2017, to £11,000
- A new Personal Savings Allowance taking 95% of taxpayers out of savings tax altogether
- The introduction of a Help to Buy ISA – every £200 people save towards their first home, the government will put in an extra £50, up to a maximum bonus of £3000
- Giving people complete freedom to take money out of an ISA and put it back in later in the year
- A pledge of £1.25 billion for children’s’ mental health services
- Cancelling the fuel duty increase scheduled for September
- A cut in beer duty for the 3rd year, with another penny off a pint, a 2% cut for spirits and most ciders, and a freeze on duty on wine
- Giving up to five million pensioners the freedom to sell their annuity for a cash lump sum
- The abolition of the annual tax return
- An investment to up to £600million to deliver faster broadband and better mobile networks