‘Budget and my new bill will put us streets ahead’
FROM the Spring Budget to my High Streets Bill, the last month has been a busy one in Parliament. The fact that the Chancellor has been able to produce a Spring Budget which delivers tax cuts and invest more in our public services, despite the challenges of the last few years, is remarkable.
The last few years have not been easy for households and businesses in Stoke-ontrent and North Staffordshire.
The legacy of covid, Putin’s illegal invasion of Ukraine and the situation in the Middle East have impacted us all.
But we should not forget that the selfinflicted reckless boom and bust that led to the financial crash in 2009 added much more to public sector net debt than the combined effects of an unavoidable pandemic which cost the taxpayer £400 billion and the energy price shock.
It was only because of the actions prior to the pandemic to get the public finances under control that it was possible to fund the response to both the pandemic and energy crisis, helping people with the cost of living.
As the Member of Parliament for Stokeon-trent South, I have been working with the Government and colleagues in Westminster to ensure everything possible is being done to get inflation down and grow our economy.
This has meant our economy has outperformed nearly every major economy in Europe, with wages rising faster, mortgage rates starting to come down, and debt on track to fall as a share of the economy. Most importantly, we have seen inflation fall from 11.1% to 4.0%, with the Government target set to be achieved a year earlier than expected.
As a result, we can deliver a national insurance cut for 27 million working people. This, combined with the action taken in the autumn, is worth £900 to the average worker and saves £650 for a selfemployed person earning £28,000 a year.
These actions are about rewarding hard work and alongside the further steps to reform welfare will help encourage more people back into the workplace.
We are also extending Child Benefit eligibility to more families and extending the Household Support Fund for another six months to support the most vulnerable. This is alongside freezing fuel duty and alcohol duty.
The steps we have also taken through the ‘triple lock’ means a £700-per-year increase for a full basic State Pension and £900 per year for a full new State Pension.
This is all whilst continuing to invest in important public services with £2.45 billion being invested in our NHS for next year and a new £3.4 billion productivity plan, investing in new technology to help improve the efficiency of our health services and freeing up more time for clinicians to be focused on their patients.
I am also very pleased to see the further support for small businesses though increasing the VAT registration threshold to £90,000, freeing even more small businesses from paying any VAT.
I particularly welcome this given the positive impact it will have on our high streets encouraging our small businesses to invest their money locally.
I know residents in North Staffordshire care just as much about our high streets as I do and I wanted to also update you on the new laws I am introducing through Parliament to help our high streets to thrive again.
My Bill puts a duty on local councils to assess the condition of their high streets and come up with action plans to help them improve.
This encourages them to work with communities, businesses and property owners on our high streets and better use some of the powers to improve the condition of our high streets.
I have been delighted to attract huge amounts of support for my Bill, including cross party support.
Last week saw Committee Stage, where detailed examination of the Bill takes place. I put forward several amendments to further improve the Bill and I was pleased to see these were unanimously voted through by MPS.
This is another significant hurdle cleared. Once signed into law, my Bill will ensure local councils work properly with local communities and businesses. Everyone expects their council to be proactive in supporting their high streets, and this Bill will help our high streets up and down the country to overcome the challenges faced.
We must ensure our high streets are saved and not lost in the past. We are one huge step closer to getting Royal Assent and turning this into law. I will not stop until we get there!
Lastly, I would like to say a huge thank you to staff and students from both The Crescent Academy and Christ Church Cofe Academy who came to visit Parliament. It was great to give The Crescent Academy a personal tour of Parliament, and meet with Christ Church Cofe Academy. I also met in Longton with pupils from St Gregory’s last week.
Well done to all the schools on such excellent questions.