I have just listened to the Chancellor of the Exchequer deliver his Spring Statement today. He quite rightly says that we must support our friends in the Ukraine, and I welcome the £400m of aid that the UK has spent.
We cannot forget that the only way we can support our Ukrainian friends is when we are economically stable here in the UK, and I welcome the steps the Chancellor is taking to ensure this. We will all understand that it is too early to know the full impact that the Russian invasion of the Ukraine will cost the UK.
This cost will impact us all, and it is right that the Chancellor has taken steps to help reduce the cost of living here in the UK.
I welcome the new Tax Plan that seeks to reduce and reform taxes over the rest of this Parliament. This will help families with the cost of living, create the conditions needed for private sector growth, and will ensure that proceeds of growth are shared fairly.
The key announcements made by the Chancellor are that we will:
This plan will deliver the biggest net cut to personal taxes in over a quarter of a century. Plain and simple, that leaves more money in people’s pockets in north Norwich.
I welcome these announcements, and I know that many in Norwich North will welcome them too, because they will bring relief to those who need it most, whilst ensuring that hard work pays.
I will provide further detailed information on specific announcements over the coming days.