It was great to hear the Chancellor deliver todays budget, which is innovative and right for the times. The budget supports jobs, training, business investment and builds on the pandemic support already in place. I believe the budget delivers for constituents and businesses.
The Freeport East announced in today’s budget will drive quality jobs, investment and regeneration to the constituency and Suffolk as a whole. I am also pleased to see the VAT cut extended in order to support the hospitality and tourism industries, both of which are vital to our local economy. I am hopeful that the support and policies in this budget will help us build back better from this pandemic.
Below are a few of the key highlights from todays budget
- Extending furlough until September
- further grants for the self-employed
- New Restart grants
- Business rates holiday extended
- Extending the VAT cut
- Stamp duty cut extended
- £20 uplift to Universal Credit continued for six months
- More money for apprenticeships and traineeships
- New Recovery Loans
- £700 million for arts, culture and sports
- A brand new 95 per cent mortgage guarantee for prospective homebuyers
- Freeport East Felixstowe & Harwich
You can read the full budget here- https://www.gov.uk/government/publications/budget-2021-documents