High Peak MP welcomes Jeremy Hunt's Autumn Statement

The Conservative MP for the High Peak, Robert Largan, has welcomed Jeremy Hunt’s announcements in his Autumn Statement. 

The Chancellor announced in the Autumn Statement several decisions to help cut taxes and reduce debt. 

Commenting on the statement, Mr. Largan said: “This Conservative Government is making progress in tackling the immediate pressures in the economy. 

“The statement is a result of difficult decisions the Government has taken. 

“Today’s statement would not be possible under Labour.” 

Announcements in the statement include cutting the National Insurance contributions for 29 million people from 12 per cent to 10 per cent, which the Government says will save the average person £529 a year. 

1.6 million low-income families will also see an increase to their housing benefit, and the National Living Wage is set to rise to £11.44 from April 2024, with 21- and 22-year-olds included in the rate for the first time. 

Full expenses will also be made permanent, which means businesses will have their taxes cut every time they invest in the UK. 

A new East Midlands Investment Zone, which focuses on advanced manufacturing and green industries, was also announced in the statement, and is projected to create 4,200 jobs over the next ten years. 

The Chancellor, Jeremy Hunt, said in his Autumn Statement: 

“With inflation falling and global economic conditions stabilising, we are now able to turn our attention to the long-term decisions required to strengthen our economy. 

“We are making huge progress in tackling the long-term economic challenges facing the UK so we can build a more dynamic economy that delivers prosperity across the UK.” 

Labour were pleased with the changes to National Insurance, but they said they would have made changes to the statement, including adding more money to the NHS.