Chris Loder MP has hailed the policies announced today in the Spring Budget as a win for West Dorset’s workers, families and small businesses. It follows numerous meetings Mr Loder has held with the Chancellor to ensure the interests of West Dorset are heard.
Mr Loder said: “The Spring Budget is good news for West Dorset’s working people, families, and small businesses. The Chancellor’s headline reform includes a further cut in National Insurance Contributions from April 6th this year – this comprises of a cut from 10% to 8% for employees, while for those self-employed will receive a cut from 8% to 6%.”
He added: “I’m also very pleased that the Chancellor listened to my demands for a change in the VAT threshold for small businesses, which will increase from £85,000 to £90,000. In addition, for local businesses within the hospitality industry, alcohol duty will be frozen to alleviate pressure.”
Mr Loder added: “What’s more, I’m especially glad to see that specific support with the cost of living will be maintained: the Household Support Fund will increase for a further 6 months, and for the most vulnerable in receipt of Universal Credit with emergency loans from the Government, the repayment period will be extended to 24 months.”
