Chancellor’s Budget benefits the East of England
Mr Van Orden, has welcomed specific budgetary measures, announced today (21 March), that will benefit the East of England.
In this time of economic austerity, I am delighted to see that, in addition to the tax cuts that will benefit the economy as a whole, there are specific announcements that will directly benefit the East of England as incentives to economic growth and to job creation.
The increase in the Personal Allowance to £9,205 will lift an additional 75,000 people in the East of England out of the income tax bracket, and it will benefit over 2.2 million people in total.
Our road and rail network is desperately in need of improvement - I am pleased to see that the A143 between Great Yarmouth and Haverhill will benefit and that urgent attention is being given to the A14 between Huntingdon and Cambridge.
Local Enterprise Partnerships in the East of England will receive a further £16.4 million of funding, boosting local-enterprise led growth with:
- •£5.2 million for Greater Cambridge & Greater Peterborough LEP
- •£5.2 million for Hertfordshire LEP
- •£5.9 million for New Anglia LEP
Nearly £40 million will be invested in the East of England through the 'Get Britain Building' scheme - set to deliver nearly 1,200 homes and supporting over 2,300 jobs in construction and related sectors.
We all understand that the first priority is to overcome the deficit and ensure that the United Kingdom retains its top credit rating - business needs this and so do hard-pressed taxpayers. Given the constraints on the Chancellor he has begun to move the country once more in an optimistic direction."