MP welcomes Autumn Statement as good news for Dacorum

The economic recovery is taking longer because the damage is worse than we feared. But the economy is healing. The last thing we could do is put all this progress at risk and attempt to borrow less by borrowing more. We cannot turn back.

The Chancellor has today announced critical measures that will be welcomed across the UK. The personal allowance will rise further, meaning people will keep more of the money they earn before income tax kicks in. Labour’s planned fuel duty rise has been cancelled. Small businesses rate relief has been extended for another year. We have also seen a range of capital infrastructure projects to boost growth up and down the country.

The measures announced today will support the cost of living for households and unlock growth for our businesses and industry.

Mike Penning said:

“This is good news for Dacorum. I welcome the increase in Personal Allowance which will mean many people will be paying less tax and some will be lifted out of paying income tax altogether. The cancellation of a rise in fuel duty that the Labour Government had planned for is also very welcome news.

“Businesses will welcome the drop in corporation tax and the small business rate relief.

“Times are tough. But the economy is healing – and the measures announced today will bring welcome support to local families and businesses”.