Budget 2021: Bishop's Stortford MP Julie Marson welcomes Chancellor Rishi Sunak's Covid-19 support for constituents
Bishop's Stortford's MP Julie Marson says Chancellor Rishi Sunak's Budget on Wednesday (March 3) gives her constituents the "support and reassurance they need to get through the pandemic".
In his speech, Mr Sunak confirmed:
- An extension of the Coronavirus Job Retention Scheme until the end of September. Two further grants will also be available to self-employed people – and the newly self-employed will also be eligible for both grants.
- A continuation of the temporary Universal Credit uplift for a further six months.
- New Recovery Loans and a new Restart grant of up to £18,000 to help businesses as they reopen.
- Support for the sports, arts and culture sectors will be increased by a further £700m.
- The business rates holiday, VAT cut and stamp duty holiday will continue.
- There will also be a new mortgage guarantee scheme from April which backs 95% mortgages.
- Personal tax thresholds will be maintained at their current levels.
The Government has also frozen alcohol and fuel duty but has warned that to fix public finances in the wake of the coronavirus pandemic, corporation tax on large company profits will increase to 25% in 2023.
Conservative Mrs Marson, who has represented Hertford and Stortford since the General Election in December 2019, said: “Today’s Budget provides businesses and families in Hertford and Stortford with the support and reassurance they need to get through the pandemic.
“With £407 billion of support for families, jobs and businesses, it is right that the Chancellor is honest with the British people about our public finances.
“At the same time, I was elected on a commitment to level up communities like ours, and I am thrilled that this Conservative Government is now making good on that promise – by building our future economy and investing in every corner of the United Kingdom.”
Mr Sunak said: “Throughout this pandemic, my top priority has been to protect jobs, businesses and livelihoods. Today’s Budget reaffirms this commitment, with £407 billion to support the British people this year and next as one of the largest, most comprehensive and sustained responses this country has ever seen.
“It is thanks to successive Conservative governments that we have been able to respond to this crisis as boldly as we have. But we need to be honest about the challenges facing our public finances, and how we will begin to fix them.
“As we look ahead, this Budget lays the foundations of our future economy – driving up productivity, creating green jobs, supporting small businesses, and levelling up across the entire United Kingdom."