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Bromsgrove MP praises the Budget
4:10pm Friday 22nd March 2013 in News
BROMSGROVE MP Sajid Javid has welcomed George Osborne’s fourth Budget, delivered last week.
In the Budget the Chancellor outlined how he plans to save £2.5 billion over the next two years, and said his Budget would be "for people who work hard and aspire to get on".
Among the announcements was the scrapping of the beer duty escalator, a 1p cut in the duty on a pint of beer, and a cancelled fuel duty increase planned for the autumn of 2013.
Other measures included a further corporation tax cut to 20 per cent in April 2015, and the amount people can earn before paying income tax - the personal allowance - will rise to £10,000 in April 2014.
In welcoming the budget the town MP, who serves as an economic secretary to the Treasury, highlighted that the personal allowance increase would mean 34,000 people will see further tax cuts in Bromsgrove.
“We're equipping people to succeed in the global race,” the MP said.
In his role in the Treasury, Mr Javid also helped unveil the Government’s tax-free childcare scheme.
From Autumn 2015, the Government will meet 20 per cent of childcare costs for working families, which will save a typical working family with two children under 12 up to £2,400 a year.
Parents will be allowed to claim back 20 per cent out of a total of around £6,000 - considered the average annual price of a childcare place.
Initially it will cover children up to five years old, but the Government say the scheme will build up over time to include all children under 12.
Mr Javid said: “This is a landmark announcement for parents in Bromsgrove, which will deliver meaningful support with the cost of childcare.
“It really shows that the Government is committed to helping families make ends meet, and support parents back into work."