Gosport MP Caroline Dinenage has commended measures set out in the Chancellor’s Budget that will benefit working families across Gosport, Stubbington, Lee-on-the-Solent and Hill Head.

From next April, the personal tax allowance is set to rise from £10,600 to £11,000 whilst the threshold at which the 40p rate is paid will rise from £42,385 to £43,000.  In addition, the Government will introduce a new compulsory National Living Wage for all working people aged 25 and over, meaning 2.5 million people will get a direct pay rise. 

Businesses will also benefit as the Employment Allowance is set to rise to £3,000, cutting the jobs tax for firms and corporation tax will also be cut to 18% by 2020 thanks to changes to forthcoming dividend taxation system.

In order to boost productivity, the Government will introduce a new system of Vehicle Excise Duty meaning that from 2020 every penny raised through VED will be reinvested into our roads thus improving connectivity across the UK.  It will also put an apprenticeship levy on large firms to fund three million more quality apprenticeships.

Ensuring that taxes are fair, the family home will be taken out of inheritance tax thus raising the effective threshold for most couples to £1 million and non-dom rules will be changed to ensure that British people pay British taxes in Britain.

Speaking in support of the Budget, Caroline commented:

“This is a Budget for the hardworking people of Britain and I am proud of the measures that the Chancellor is putting in place to ensure that we move towards a higher wage, lower tax and lower welfare economy. 

Britain is now growing faster than any other major advanced economy thanks to the decisions taken by the previous Conservative-led government and I am confident that over the next five years supportive policies will further boost this growth.”

For a detailed breakdown of how today’s Budget will benefit people in Gosport, Stubbington, Lee-on-the-Solent and Hill Head, visit: