Milton Keynes residents will get to keep more of their hard-earned cash in their pockets, says Mark Lancaster MP.
It follows today’s final budget delivered by Chancellor of the Exchequer, George Osborne, ahead of May’s general election.
Mr Lancaster has also praised plans to promise first-time buyers 25 per cent top-up for their deposits.
He said: “It was an excellent budget from a highly competent Chancellor and in stark contrast to the chaos of the local Labour Council budget here in Milton Keynes.
“Having campaigned hard for access to affordable housing and with major house building moving again in areas such as Brooklands, I was pleased that the Chancellor has extended the ‘Help to Buy’ scheme by introducing a new savings scheme meaning potentially an extra £3000 Government contribution will be available for deposits on new homes.”
“I was also particularly pleased to see plans to increase the income tax allowance to £11,000 meaning that many of the lowest paid will be taken out of paying tax all together and everybody getting to keep more of their hard earned cash in their pockets.”
The new help-to-buy ISAs mean the government will give deposit savers £50 for every £200 they save up to a maximum of £12,000.
Mr Osborne also announced he will cut alcohol by a penny a pint and freezing petrol duties for a further year.
But Labour candidate Emily Darlington who is vying for Mr Lancaster’s MK North seat reacted angrily to the budget.
She said: “Before the last election, the Tories promised not to raise VAT, but they did. Taxes have been raised 24 times but average wages are down by £1,600. Today it is clear that under the Tories, VAT will rise again.
“But the real story of the budget is about everyday families.
“People in Milton Keynes on zero hours contracts, on the minimum wage, depending on food banks, waiting too long to see a doctor know the reality of this government’s economic policy.”