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Mark's Budget Note

Posted by Mark Pawsey, MP for Rugby, at 10:51, Wed 30 June 2010:

It is now seven days since George Osborne delivered his Budget Statement.

As a new Member of Parliament I have had to come to terms with the massive amounts of email and letters covering a wide array of subject matters. I have, of course, received a vast amount of correspondence in the last seven days concerning the budget. In fact I have been inundated with briefings, letters and articles from lobby groups and think tanks each seeking to give their interpretations of the Budget. However, since last Tuesday I have had very little correspondence from the electors here in Rugby and I believe this is because the Budget contained very few surprises. I am of the opinion that the electorate understand that immediate action had to be taken and as a result I was not surprised to see last week’s Sunday Times poll showing that 49% of people felt the budget was fair – one of the key objectives of the Coalition Government’s Budget.

George Osborne has set out a sensible balance of policies to ensure that the burden is spread evenly and fairly. This Budget begins the necessary process of getting the economy back on track despite and tackling head on the the debt of £22,400 for every man, woman and child in the country. The Government’s plans accept that the priority should be biased towards cutting costs rather than increasing taxes and there is massive waste in Government that can be eliminated.

However, work must also be done to raise additional income for the Government. Given the poor state of finances I believe that raising the level of VAT to 20% was unavoidable. Yet the Government, as with the rest of the Budget, have ensured that fairness is maintained by excluding discretionary spending for businesses and all household necessities. The Government have also aimed to protect the retail industry by sensibly introducing the rises on the 4th January 2011, after the peak Christmas sales period.

The Budget is a start to getting Britain back on track by paying for the debts of a failed past and laying the foundations for a more prosperous future.

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