Brown has paid for his 2p cut in income tax by abolishing the 10p
rate and putting National Insurance Contributions up for
professionals like doctors. The Treasury claim it’s a £2.5bn cut in
tax. That’s because they ignore the £2.6bn rise in NIC over two
His three income tax changes on
working families are not a tax cut, but raise £340 million extra
Brown has increased borrowing again
by £8bn over the next five years. He is borrowing over twice the
amount he spends on law and order.
The Chancellor plans to share the
proceeds of growth. Stewart has welcomed this admission by the
Chancellor that Conservative policy is the right one for Britain’s
future. After attacking the Opposition for this policy as recently
as last month, he has been forced into a full U-turn.
Finally, the local Member of
Parliament raises one crucial point - after 101 stealth taxes, no
wonder people are all asking “where has all our money gone?”
Stewart commented: “This Budget is
bad for Peterborough. Locally, there will be no new money for police
and nothing new for our local health service, but borrowing will
continue to rise.
“It punishes the many young working
people on low incomes who will be worse off as the 10p tax band is
doubled and National Insurance is increased as well as those trying
to to get on the property ladder. It will also mean a higher tax
bill for most of our local small businesses whilst giving tax breaks
to big corporations.
“As ever, Gordon Brown takes more
than he will be giving of our money."
Jackson was elected in May 2005 to represent the
Peterborough constituency in the House of Commons.
To find out more about him, his views and activities, visit his
Community Website - February 2007