This Budget and Spending Review will build a stronger, fairer economy as we recover from the pandemic. It drives growth, boosts businesses, strengthens public services and supports working families and the most vulnerable households.
Thanks to the Government’s support for businesses through the pandemic, and our Plan for Jobs, we are recovering faster than forecast and unemployment is lower than predicted. As Exchequer Secretary to the Treasury, I'm determined to see our recovery benefit people across the country - including here in Kent.
We’re increasing investment in infrastructure, innovation, and skills – all crucial for growth and our future prosperity. We’re investing in future generations with extra funding for early years and delivering record investment in our NHS – with spending on health services set to be £40 billion higher by the end of this Parliament.
We’re helping our high streets with a business rates discount and overhauling alcohol duties to support pubs and hospitality. The changes will mean less tax to pay on a pint of draught beer or cider and an end to the tax penalty on sparkling wine – something that will help our local brewers and wine makers.
I know people are worrying about the cost of living. The Budget helps by raising the National Living Wage to £9.50, freezing fuel duty, cutting the Universal Credit taper rate, and increasing the work allowance. That means families keep more of the money they earn.
This Budget is good news for people and businesses across Kent.