City MPs welcome ‘aspirational’ budget

Iain Stewart MP and Mark Lancaster MP
Iain Stewart MP and Mark Lancaster MP

Milton Keynes’ MPs Iain Stewart and Mark Lancaster have welcomed the first solely Conservative budget in 20 years, describing it is a “one-nation budget for hard working people”.

Among the measures announced by the Chancellor George Osborne, a new national living wage of £9 an hour by 2020, an increase in the inheritance tax threshold to £1m for married couples, fuel duties frozen and the 40p tax threshold to be increased to £43,000.

Iain Stewart MP for MK South said, “This was a budget for aspirational hard working people across Milton Keynes and the UK. “It’s a Budget that delivers security for working people and keeps Britain moving from a low wage, high tax, high welfare economy to a higher wage, lower tax and lower welfare country.

“We still have tough decisions to make but it is important for the long term good.”

He added: “I was particularly pleased to see the inheritance tax changes and the increase in the lower tax threshold it to £11,000 which will take even more people in MK out of paying tax altogether.”

The Chancellor also announced significant increases in investment for Defence and the NHS.

MK North MP Mark Lancaster said: “This budget will take people from a life of dependency to a more secure future, by cutting taxes for working people, they are able to save more of what they earn.”

“The increased spending in the NHS is particularly good news and Iain and I will both be lobbying to make sure Milton Keynes Hospital continues to get the additional investment it needs.”