I'm very pleased to be able to share details of this year's budget, and what it will mean for our area. The Chancellor has set out the emergency support that will continue to be available to those in need as a result of the pandemic, begun the process of restoring our public finances to health, and made key investments to prepare our economy for the future.
Many still depend on the furlough, and this will continue till September. Support will also continue for those self-employed, depending on the health of their business. In addition, the extra £20 a week in universal credit payments will be extended for a further six months.
There are moderate and sensible tax increases on corporations, dependent upon their profits.
For our region, there’s lots to be excited about: new money available for green projects, a commitment to invest in science and technology, and approval of the Freeport at Felixstowe which will help drive economic growth across the East of England region.
This is a sensible and well though-out plan that provides the emergency support our economy needs, whilst also focusing on the future.
