Gareth Davies MP has strongly welcomed the Autumn Statement delivered by the Chancellor of the Exchequer, Jeremy Hunt MP, in the House of Commons today. Key announcements included:
- Cutting taxes for 27 million working people from January by reducing the main rate of NI contributions from 12% to 10%
- Boosting the National Living Wage to £11.44 an hour, a 9.8% increase, benefiting 2.7 million workers
- Cutting business taxes by £11 billion by permanently enabling businesses to offset investments against their tax bills
- Supporting the most vulnerable with an average income boost of £800 which will help 1.6 million families
- Cutting business rates by freezing the small business multiplier, saving the average shop £1,650, and extending the Retail Hospitality and Leisure Relief for a year
Gareth said:
"Today, the Chancellor of the Exchequer has delivered his Autumn Statement 2023. Setting out a plan for growth, the announcements made today focus on rewarding hard work and boosting investment and will work to build a more dynamic economy that delivers prosperity and the change that the country needs."
