Huppert's budget response

June 22, 2010 2:28 PM

Julian HuppertThis was always going to be a tough budget designed to address the mistakes of the past and I am encouraged that the coalition government has taken tough but fair measures to try to balance the books, adopting key Lib Dem manifesto pledges.

I am delighted to see that the tax threshold will be increased by £1,000, with the intention of increasing it to £10,000 in the longer term. This will take hundreds of thousands of people out of the tax system altogether.

Restoring the link between the basic state pension and earnings is an extremely welcome move.

Raising a levy on the banks is completely the right thing to do and the cut in corporation tax for smaller companies will ease the burden for many and help to drive the economy.

All these proposals were promised by the Lib Dems in their election manifesto and we impressed upon the Conservatives that they were vital to form the basis of this budget.

They will help low and middle income earners, secure a fair deal for pensioners and rebalance the economy.

I am delighted that we have been able to deliver our promises to the people of Cambridge and this country.

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