Spring Budget 2020

People living across our community will benefit from the Budget as we deliver on the promises we made to the British people. Investing in infrastructure, the NHS and public services.

 

The plans set out by the Chancellor will get things done and provide security for now and lay the foundation of prosperity in the future.

 

This Budget marks the start of record level of investment to ensure the potential of the East of England is unleashed.

 

Increases in the national Insurance threshold and the National Living wage announced by the Chancellor will mean families keep more of the money they earn. Investment in the East of England’s roads, rail, housing, broadband and flood defences will ensure everyone can have the same chances and opportunities in life, wherever they live.

 

Thanks to the measures taken in the Budget, someone working full-time on the minimum wage in our community will be over £5,200 better off compared to ten years ago.

 

Small businesses in the retail, leisure and hospitality sectors with a rateable value of less than £51,000 will benefit from a 100% business rate relief this year. A wider review of business rates will also be conducted later this year.

 

I am pleased measures have been introduced to support families and businesses, while continuing to invest in Britain’s future responsibly.