ARTICLES


  • Helping with the cost of living

    Mid Devon Advertiser
    22 December 2017

    As Christmas approaches I am always mindful of the challenges to many family budgets as prices rise. These pressures are why we have taken a number of key actions to help people with the cost of living in our recent Budget.
     
    For workers on the National Living Wage, we are increasing it well above inflation to £7.83 an hour. That means if you are working full-time on the National Living Wage you will earn £600 more next year.
     
    And we are also increasing the amount of money you can earn before you start paying any income tax. That means if you pay the basic rate of tax, you’ll typically be £1,000 better off compared to 2010.
     
    If you are looking to get on the housing ladder for the first time we are abolishing Stamp Duty completely for homes worth less than £300,000, and reducing it for those below £500,000. That means the average first-time buyer will be £1,700 better off.
     
    When you put fuel in your car you’ll find that we have frozen fuel duty for the eighth year in a row, meaning that since 2010 the average driver is £850 better off.
     
    If you go to the pub in the run up to Christmas, the price of your pint, glass of wine or short will benefit from our freeze in alcohol duty.
     
    And we are building this immediate support on strong foundations. Our country has created over three million extra jobs over the last seven years and unemployment is at its lowest level in over 40 years. And we have done this while steadily reducing the deficit, so that we keep our economy stable and avoid passing on a heavy burden of debt to future generations.

    Along with all of this we are also investing for the long term so that we develop a country that is fit for the future. And that means investing in the right areas. So we have announced that we are will spend £30 billion on boosting the amount we produce as a nation, investing in new technologies like artificial intelligence and building the housing, roads and railways that we need. We are also investing more in apprenticeships and training - focusing on the core skills and knowledge our workforce requires for us to seize the new opportunities that await in the years ahead.
     
    This government will continue to work hard to deliver for you. Right now through firm positive action on the cost of living and in the longer term through investing in our future whilst continuing to bear down responsibly on our debts. By doing these things we will ensure a bright and prosperous future for us all.

    There is always more to do of course and after a brief break for Christmas I am looking forward to pressing ahead for another year. I hope that all MDA readers and their families have a very Happy Christmas and New Year. Follow Mel at www.melstridemp.com and on Twitter @meljstride.







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