John Baron MP sets out some Budget recommendations

MP says hard work and enterprise must be rewarded

In advance of the Chancellor’s Budget Statement on Monday 29th October, John Baron MP sets out his priorities.

John said,

“The Chancellor must ensure the principles of hard work and enterprise continue to be rewarded. This should be achieved by accelerating the increases to the Personal Allowance to further reduce the burden on individuals of income tax, particularly those on a low wage. He should also take small businesses out of corporation tax altogether. A thriving economy would help everyone.”

“Gains for the Treasury will come from no longer having to send vast sums to Brussels, and could also be obtained by cancelling the HS2 rail link. The costs for this huge project are rising, and the billions saved could be put to better use.”

“The Chancellor must also reform the tax system to help ensure that the tech giants, including Amazon, Facebook and Uber, are taxed in line with other businesses. It is not right that these firms earn billions through their commercial activity in the UK but pay comparatively little tax.”

“We must also address our spending on international affairs. An under-resourced military sends out the wrong message to potential adversaries. Meanwhile, our spending on diplomacy and our soft power institutions, such as the British Council and BBC World Service, remains alarmingly low.”

“I have fed in these and other suggestions, including the need to fairly deal with Equitable Life policyholders, to the Treasury, and look forward to hearing the Chancellor’s Statement on Monday. Above all, I am hoping for some optimism from No 11 – we remain a great country with our best days ahead of us.”