Maggie welcomes the Chancellor’s Autumn Statement

Maggie Throup, Member of Parliament for Erewash has welcomed the Chancellor of the Exchequer’s Autumn Statement in a debate in the House of Commons. 

On Wednesday 22nd November, the Chancellor, Rt Hon Jeremy Hunt MP, delivered his Autumn Statement which laid the foundations for long-term growth. The Chancellor outlined 110 measures focused on growing the economy through reducing debt, cutting taxes, securing energy, backing British business, and developing a world-class educational system.

Measures announced in the Chancellor’s Statement include increasing the National Living Wage to £11.44, raising benefits and the state pension by 6.7 per cent and 8.5 per cent respectably as well as a 2 per cent cut in the headline rate of National Insurance for employees. These measures will benefit residents across Erewash. The Chancellor also announced that he will cut business taxes by £11 billion. Following the Statement, Maggie participated in the Ways and Means (Day 1) debate.

Maggie said: “After what has been a testing year steadying the ship, the Chancellor’s Autumn Statement has laid the foundations for long-term growth and demonstrated that Britain is again on the right track back to prosperity. 

“Whether its cutting taxes, increasing wages, getting people back into work, supporting businesses, cost-of-living support or freezing alcohol duty – I know that the measures outlined in the Statement will be welcomed by everyone across Erewash.

“Although there were some great proposals to help grow the economy, the Government can never claim to have truly succeeded in its mission to level-up the Midlands and the North if it fails to invest in places like Erewash. 

“I urged the Chancellor to consider new funding to support major infrastructure projects in next year’s Budget, to help develop schemes such as my campaign to secure an additional motorway junction to support New Stanton Park and relieve the already congested local roads.

“During times of economic uncertainty, sound Conservative economics have always triumph over the reckless tax and spend policies of the Labour Party. It is in that spirt that the statement has been delivered and it is the British people who will prosper because of it.”