Tuesday, 29 November 2011

Autumn Statement

This a strong package of growth measures which will boost the North East economy. The Chancellor is clear things are tough and I think the Government is right to focus on using every resource at their disposal to build growth, without putting our economy at risk with more debt and more borrowing.

Making it easier for small businesses to lend is something I often hear and the Chancellor’s steps in this area will be welcome, as is the extra £1billion for the Regional Growth Fund and the increase in the Bank Levy. The funding for infrastructure projects, especially the bringing forward of improvements to the Tyne and Wear Metro, will not only bring real improvements to the North East but also help keep investment flowing in these tough times with special relief for the North East.

The Chancellor was clear that things are tough, but there is real help for the North East in this statement, including the state pension rising by £5.30 to £107.45, the largest ever cash rise, and not least cancelling January's 3p Fuel Duty rise, saving families £144 is real help for where it counts.