Andrea Leadsom Welcomes Budget 2024

A positive Budget from the Chancellor today, offering a real boost to families and businesses across the country. My highlights:

We have:

More than halved inflation from 11.1% to 4.0%.

Grown the economy faster than our major European counterparts since 2010.

Funded the NHS at the highest level in its history.

Given 27 million workers a tax cut by reducing National Insurance from 12% to 10%.

Created 800 jobs for every day the Conservatives have been in office since 2010.

We will:

Cut taxes (again), reducing NI from 10% to 8%, a 1/3 cut overall. Our ambition is to keep cutting NI, ending the unfairness of a double tax on work.

Support half a million families by reforming the High Income Benefit Charge on Child Benefit, ending the unfairness for single earner families by 2026.

Freeze fuel and alcohol duty, supporting pubs and motorists with tax cuts worth billions.

Fund the NHS with £2.45 billion for next year and a new £3.4 billion productivity plan, saving money, freeing up clinicians’ time to focus on patients, and cut wait times.

Introduce a new duty on vapes, to protect young people and children from the harm of vaping.