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Salter welcomes Brown's eco-budget
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Martin Salter MP has today given a warm welcome to Gordon Brown’s 11th Budget and describing it as “a budget for children, hard working families and for the environment”. He particularly welcomed the 2p cut in income tax.
Two weeks ago Mr Salter met Gordon Brown and pressed him to bring in fiscal measures to promote real action on climate change. He argued for help for residents who wish to switch to renewable energy sources and greater incentives for people who choose to drive less polluting vehicles. Gordon Brown demonstrated his commitment to tackling climate change, with an announcement that From 1 October 2007 all new zero-carbon homes costing up to £500,000 will pay no stamp duty, with zero-carbon homes costing in excess of £500,000 receiving a reduction in their stamp duty bill of £15,000. There will also be an increase in line with inflation of the Climate Change Levy from April 2008, to encourage energy efficiency in the business sector; and £800 million allocated to the Environmental Transformation Fund to finance overseas development projects that deliver both poverty reduction and environmental benefits in developing countries. Gordon Brown also announced, the government’s intention that, by the end of the next decade, all householders will have been offered help to introduce energy efficient measures with the aim that all homes will have achieved their cost-effective energy efficiency potential. In particular pensioners will be able insulate their home and save energy through grants of between £300 and £4,000. The Government will also ask Ofgem to examine how green homes can benefit more from the prices paid to them when they become not just sources of clean energy for themselves but sell it back to the grid. In addition road tax for the least fuel-efficient vehicles will be raised to more than £400 per year in 2008, and the least-polluting vehicles will have their duty cut to £35. As part of an almost £2 billion investment in tax credits, the Budget included an increase in the child element of the Child Tax Credit by £150 per year, benefiting 3,000 families and 5,700 children in Reading West. Child Benefit will rise over the next three years to £20 a week, helping parents even further with the cost of bringing up children. This will mean that child benefit will be over £1,000 a year by 2010, compared to only £575 a year in 1997. Alongside these measures Gordon Brown also announced a cut in the basic rate of income tax from 22 pence to 20 pence from April 2008, and an increase in the inheritance tax allowance to £350,000 in 2010-11. Martin Salter said: “Gordon Brown has been a magnificent Chancellor of the Exchequer, and will be just as successful, I am sure, as Prime Minister. This was a budget for children, hard working families and for the environment. I fully support the green policies announced; indeed only two weeks ago I met with the Chancellor and lobbied him strongly on the need for serious action on climate change. "This Budget provides an incentive for pensioners to improve insulation and for all people to reduce carbon emissions from their cars. I am also delighted that his strong management of the economy has enabled us to cut income tax to 20p in the pound. "Under the stewardship of Gordon Brown Britain has had the longest sustained period of economic growth and it is due to this that the 5,700 children in Reading West who benefit from Labour’s child tax credits will continue to do so whilst at the same time we are able to cut the basic rate of income tax.” The Chancellor rejected Conservative proposals for Tory plans for a "third fiscal rule" on sharing extra cash from economic growth between public services and tax cuts as it would mean a £21bn cut in spending this year. He also rejected Conservative proposals for VAT on domestic flights and a return to the married couples’ tax allowance as "ineffective" in tackling climate change and helping children. Martin Salter added: “This Budget showed how light weight David Cameron and his new model Tories are in comparison with the strength, experience and leadership shown by Gordon Brown. "Under Gordon our economy has risen from the bottom in the G7 for national income per head in 1997- seventh out of seven, behind Germany, Italy, France, Canada and Japan, to second only to America now. The Tories simply cannot offer the economic policies for the future.” 21/03/07 |
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