Wednesday, 5 December 2012

Good News for the North East

The Chancellor has today announced critical measures that will be welcomed across the North East.

The personal allowance will rise further, meaning people will keep more of the money they earn before income tax kicks in.

Labour’s planned fuel duty rise has been cancelled. Small businesses rate relief has been extended for another year.

The measures announced today will support the cost of living for households and unlock growth for our businesses and industry.

The North East will see 961,000 people get an income tax cut. The 1.2million people who drive in the region will welcome the cancellation of a rise in fuel duty that the Labour Government had planned for. Businesses will welcome the drop in corporation tax and the small business rate relief.

The news that the Government will invest £64 million to upgrade the A1 to motorway standard at Lobley Hill, Gateshead and consider further upgrades north of Newcastle will be welcomed by everyone.