The Chancellor has set out a Budget for those who work hard and want to get on:
From 2015 we’re offering tax-free childcare. We will pay 20% of a working family’s childcare bills every year – up to £1,200 per child. A family with two children will be up to £2,400 a year better off.
This Government has already helped create one and a quarter million private sector jobs – but with this Budget we go further. Next April we will cut the National Insurance bill of every business by up to £2000. That means they’ll be able to take on 4 people full time on minimum wage without any increase in their NI bill.
Fuel duty is being frozen once again – making this the longest freeze for over 20 years. Pump prices will be 13 pence lower than under Labour’s plans – leaving the average motorist with £170 more in their pocket.
Backing Britain’s hard-workers
This Budget raises the personal tax allowance to £10,000 from April 2014. This is a tax cut for 24 million people. As a result individuals will pay £700 less in income tax than they did in 2010. And 2.7 million will have been taken out of tax altogether.
Conservatives want to help more people on to and up the housing ladder – and in this Budget we put forward £3.5 billion to do just that, giving people equity loans of up to 20% to help them buy newly built houses.
Backing British businesses
Our businesses are competing in a global race for wealth, work and opportunity. Today we give them a big boost in that race: we are cutting corporation tax to 20% by 2015. That is the lowest rate in the G20 – 20 of the world’s major economies.
Clearing up Labour’s mess. Moving Britain forward. Backing those who work hard and want to get on.
THE LABOUR BUDGET
Labour’s big plan to fix Britain’s economy is more of the same: more spending, more borrowing, more debt.
Last week they revealed they would spend more than £33 billion extra – money we simply cannot afford.
Their plan would mean £2000 more borrowing for the average working family in Britain.
Same old Labour:
No acknowledgement of the mess they left. No idea about how to clear it up. No real help for Britain’s hard-workers.