Budget Announcement

This Conservative government is saving money for those on the lowest incomes in an economically sustainable and credible way, through

– The uplift in national living wage

– The reduction in the Universal Credit taper

– The continued freeze of fuel duty

Unemployment is also much lower than expected. The furlough scheme, which was put together impressively rapidly, has prevented huge job losses.

– The initial prediction of 12% unemployment has been revised to 5.2%

I was pleased to have the opportunity to mention the Belstead Arms in the House of Commons yesterday. Steve has worked so hard, under such challenging conditions, and I’m pleased to see the beer tax cut – the biggest in 50 years – which will help his pub and others around Ipswich.

It’s a budget which demonstrates economic credibility – in contrast, Labour have made £400 billion worth of spending promises, and yet only accounted for £5 billion worth of revenue to fund it.