The Budget
Posted by Richard Younger-Ross, MP for Teignbridge, at 11:31, Mon 17 March 2008:
Many thanks to all of you who contacted me last week regarding Thomas Cook’s proposals for another Bank Holiday. Opinion was quite divided on whether there actually needed to be another one or not, and I received suggestions ranging from Valentines’ Day, to a Day for local communities, where a number of activities could be put on to celebrate the diversity that exists in our country.
A number of people involved in business contacted me regarding the proposals, and had concerns at the impact that an extra holiday would have on the economy, and how smaller businesses would struggle.
The overwhelming support went to an extra bank holiday taking place on Remembrance Day, 11th November.
I intend to write to Thomas Cook to let them know the thoughts of my constituents.
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The major news this week has been Alistair Darling’s first Budget as Chancellor.
The main headlines have been taken from the decision to increase the taxes paid on smoking and drinking:
Cigarettes are now up 11p a packet of 20; five cigars up 4p. Beer will go up by 4p a pint, wine 14p a bottle, spirits 55p a bottle and cider 3p a litre by Sunday and overall duties on alcohol will go up by 2% above inflation in each of the next four years
Drivers of larger vehicles will face a large increase in their first year of road fund from 2010 – with those owning the most polluting cars paying £950 for the first year, with the lowest-polluting cars will pay no road tax in the first year. • 2p increase in fuel duty is postponed until October this year. • Fuel duty will rise by 0.5p per litre in real terms in 2010 for environmental reasons.
There were also nods to the chaotic Tax Credit system, which, whilst providing additional income for some families, has left far more with vast overpayments and no viable way to pay them back. The small increase in Child Benefit, which has been brought forward a year will do little to allay fears that social mobility is declining.
Pensioners, on first glance did quite well in the Budget, with their Winter Fuel Allowance going up from £200 to £250 for the over 60s and from £300 to £400 for the over 80s. However, this rise is only for one year.
I believe that the Budget should have done more to help the less fortunate in society and that the green taxes that have been introduced should have been revenue-neutral – designed to encourage good behaviour and cut the taxes of the most needy.
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How will the Budget affect you? Do you think that increases in duty on alcohol and cigarettes will stop binge drinking and cut the amount of smokers in the country?
Please let me know your thoughts by email to yrossr@parliament.uk
Please note that there will be no poll next week due to the Easter Bank Holiday. I hope you enjoy whatever plans you have.
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