Scunthorpe‘s MP Sir Nic Dakin says Chancellor Rachel Reeves’ budget “fixes the foundations to deliver change”.
The Labour MP is a junior minister in the Ministry of Justice and a member of the whips’ office, responsible for ensuring party discipline on votes. The Budget will see £40bn more raised in taxes, but also significant increases in spending for some public services.
The biggest tax change will see employers pay more National Insurance and from a lower threshold. However, to aid smaller businesses, the maximum National Insurance liability that can be claimed back from government will increase from £5,000 to £10,500.
Other potentially significant measures for Scunthorpe constituency residents include:
- An extension of the bus fare cap, albeit up from £2 to £3 in the New Year; for drivers, fuel duty has remained frozen.
- Business rates relief for hospitality, retail and leisure businesses to continue – though changing from a 75 per cent discount to 40 per cent.
- “A significant real-terms funding increase for local government next year”, including £1.3bn extra funding for essential services.
- Inheritance tax exemptions when inheriting farmland to be less generous from 2026, with only full relief for farms worth less than £1m.
Sir Nic strongly supports the Budget, saying: “To deliver on the promise of change, the Chancellor put stability and investment at the heart of this Government’s agenda.” He was asked to pick out what he thought may have the most notable impact for Scunthorpe residents, and has highlighted three areas he welcomes.
He said: “The Chancellor is backing the NHS with the funding needed to deliver an extra 40,000 elective appointments per week, delivering on one of the new Labour Government’s first steps in office to reduce waiting times.
“Time and again during the General Election campaign, I heard from neighbours on the doorstep about potholes and the dire state of our roads. I welcome the £500 million uplift in funding to fix local roads – an almost 50 per cent increase on the commitment made by the previous government.
“As a former teacher, I know the Government’s confirmation to triple its investment in breakfast clubs will make a big difference to children’s lives up and down the country.”
Brigg and Immingham’s Conservative MP Martin Vickers, whose constituency includes part of Scunthorpe’s British Steel site, had a very different take on the budget.
He believes small and medium-sized businesses “will be badly hit and will be reviewing how to reduce costs” as a result of the Budget. The outlook for working families was “bleak” he contended, and the Budget came after an “attack on pensioners” with Winter Fuel Allowance.
Based on 2022/23 figures, over 30,000 North Lincolnshire pensioners will no longer be eligible for the £200-£300 yearly payment. However, nationally more people are signing up to pension credit, a qualifying benefit.
This week, North Lincolnshire Council announced 3,000 pensioners will be eligible to receive a £200 boost after missing out on the winter fuel payment.
Original artice: https://www.grimsbytelegraph.co.uk/all-about/scunthorpe
