June 23, 2010 2:15 PM
Mark Hunter MP in Westminster

Mark Hunter MP in Westminster

Local MP Mark Hunter has welcomed yesterday's (22nd June) Emergency Budget as tough but fair. The Budget, specifically designed to address the current financial crisis and economic deficit, included some key Liberal Democrat policies such as:

• Increasing the tax allowance by £1,000,

• A banking levy to ensure that banks contribute to restoring the public finances.

• Restoring the earnings link for pensioners

• £2 billion a year increase in the child tax element of child tax credit to tackle child poverty

• Rise in Capital Gains Tax to 28%

The Budget means that after the longest and deepest recession since the Second World War, a five year plan has been set out to build a successful and sustainable UK economy.

Commenting after the Budget, Mark said:

"The Coalition Government had to take some extremely difficult decisions in forming this Budget, and in confronting the complete mess that the previous Labour administration left us with.

"What is essential, though, is that the Budget aims to protect those most vulnerable: 800,000 low income earners are being lifted out of tax altogether; pensioners have the earnings link restored at last; and a new banking levy - to name just a few key achievements.

"This Government is being honest with people about the road ahead. Together, we can make it through these difficult times and restore health to our economy and to the public finances. These difficult choices are the foundation stones for the fairer Britain we will build over the next five years."

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