Freezing income tax, VAT and National Insurance will keep more money in people’s pockets, according to the city MPs.
Mark Lancaster MP and Iain Stewart MP say a number of key policies outlined in the first all-Conservative Queen’s Speech for 18 years will have a “significant impact” on Milton Keynes.
- A Bill was announced to increase the tax free allowance to ensure people working 30 hours a week on the minimum wage will not pay any income tax and deliver a five-year tax lock.
- The Help to Buy scheme will continue to provide families with the opportunity to get a foot on the housing ladder, a scheme that has proved to be extremely popular in MK.
- Right to Buy initiative will be extended to tenants of housing associations and new measures to boost house building across the country. Evidence of this initiative is already in MK with sites such as the Western Flank and Broughton, were new homes are being built to accommodate our ever expanding city.
- Unemployment has steadily fallen in MK since 2010 from 5 per cent to 2 per cent and a further Bill announced today aims to increase jobs nationally by 2 million and apprenticeships by a further 3 million.
Mr Lancaster said “This is a great first step for a majority Conservative Government and some crucial Bills have been proposed today.
“For MK, I see these steps as positive changes, continuous improvement and a message for the decisive development of our great city.”
Mr Stewart said “This is a strong and deliverable Queen’s speech. For the first time since 1996 we are able to implement a full Conservative manifesto.
“I am delighted to see the bill stopping rises in income tax, VAT and NI, in addition to the increase in the tax free allowance, this allows people to have more money in their pockets to spend as they wish.”
He added: “The employment bill will be very relevant to our economy here in Milton Keynes, we have done well when it comes to taking on more apprentices in the past few years but there is more that can be done and I hope the Government can encourage more local businesses to take on our young and talented people.
“I am looking forward to getting these measures through the Commons and getting the job done.”