South Tyneside Conservatives say Spring Statement plans will help people in the borough cope with spiraling cost of living
South Tyneside Tories have praised tax changes announced in the Chancellor’s Spring Statement this week, claiming people in the borough will be better off as a result.
South Tyneside’s two labour MPs and its council leader gave a damp reception to the announcement on Wednesday – with Jarrow MP Kate Osborne going as far as calling it an ‘insult’.
Changes announced included a 5p per litre cut in fuel duty for 12 months, a rise in the threshold before which people must pay National Insurance, and a pledge to cut income tax by the end of the current Parliament.
There was also a doubling of the existing Household Support Fund to £1billion. The fund helps the most vulnerable families with the cost of living, and is distributed via local councils.
Heidi Wildhirt, chairperson of South Tyneside Conservatives, said: “The situation in Ukraine reminds us that the United Kingdom’s security and ability to be a force of good in the world is in large part based on the strength of our economy.
“That is why this Government is going further to strengthen our economy, publishing a new Tax Plan to reduce and reform taxes – including cutting fuel duty, cutting the basic rate of Income Tax and cutting National Insurance for 30 million working people – meaning people can keep more of what they earn.
“This Tax Plan delivers the biggest cut to personal taxes in over a quarter of a century – simplifying our system in the long-term whilst we deliver immediate relief for cost-of-living pressures.”
Chancellor Rishi Sunak, speaking on Wednesday, said: “It is only because this Conservative Government is taking the tough but responsible decisions that we can announce taxes are being cut and debt is falling.
“Today’s new Tax Plan will help families with the cost of living, create the conditions for private sector-led growth, and share the proceeds of growth fairly.
“We are delivering the biggest net cut to personal taxes in over a quarter of a century, and that is only possible because of the disciplined approach to public spending that only a Conservative Government can provide.”