Yesterday the chancellor set out the first budget of this Labour government and I was incredibly proud to be present in the chamber to hear the first-ever female Chancellor lay out this historic change of course for the country after years of decline.
As your MP, I know just how tough things have been for people here in North Somerset.
In our towns and villages, I have spoken to scores of constituents who have told me harrowing tales of how tight wallets have been in recent years.
When Liz Truss crashed the economy and local people paid the price, we all saw our mortgages and rents soar and I was glad to see the care the chancellor and her team took to ensure stability in the wake of this budget.
Years of austerity from previous chancellors have seen 14 years of sluggish growth and our once strong public services crumble around us.
The Tories wasted billions of taxpayers’ money on dodgy COVID contracts and were continually hollowing out future spending plans to prop up increasingly rickety short-term spending decisions.
That is why we should be proud that this government is finally taking the difficult and responsible financial decisions needed to ensure long-term growth in our economy and deliver tangible public service improvements.
The chancellor has done an extraordinary job ensuring that much-beloved public institutions such as the NHS see significant real-term increases to their budgets while simultaneously ensuring 90% of households will be better off as a result of this budget.
An extra £25.6 billion over the next two years for the NHS will help provide an additional 40,000 appointments a week, making a real difference for the millions stuck on waiting lists - not least in North Somerset.
In education, £2.3 billion will support the recruitment of 6,500 teachers while a further £1.4 billion will go towards repairing our crumbling schools - ensuring our children never again have to worry about the safety of their classrooms.
By increasing the National Living Wage to £12.21 an hour, this government has put an additional £1,400 in the pockets of full-time workers and the difficult decision to retain the freeze on fuel duty and extend the bus fare cap scheme will ensure rural areas such as ours remain connected.
The decision to focus taxation on the largest employers through national insurance changes and an increase to windfall tax means that those with the broadest shoulders will bear the heaviest burden.
During the general election, we were honest with the country that the mess left behind by the Conservatives was not going to be easy to fix.
It is now time to turn the page on 14 years of Tory financial mismanagement and start a new chapter focused on investing in our future.
Whether that’s putting more money in people’s pockets; delivering 40,000 more appointments each week; building the affordable homes we need; or fixing our crumbling schools; this week’s budget delivers for Britain’s future.
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