AT the time of writing, the Chancellor will be putting the finishing touches to his budget.
Sadly, even as chair of the Treasury Select Committee, I don’t get any early sight of his text but over recent months I’ve heard testimony on the positive news on the economy that too often doesn’t get reported.
There are four million more people with a job since 2010, meaning more people have the security of their own income as we grow the economy.
Whenever I speak to an employer in my constituency, I hear reports of their numerous open vacancies and the challenges they face recruiting skilled staff.
I’ve questioned the governor of the Bank of England in detail about his monetary policy and his plans to bring down inflation but we are all relieved to see inflation down from the peak of 11 per cent in 2022 to four per cent today.
Current predictions show inflation will be back within the two per cent target later this year.
In January, working people got a tax cut as National Insurance payments were reduced to 10 per cent and the National Living Wage will increase by 9.8 per cent next month.
The share of people in low-paid jobs has fallen from 21 per cent in 2010 to 8.9 per cent in 2023.
The chancellor indicated late last year that the pension triple lock will be protected, meaning the state pension rises by 8.5 per cent, lifting 250,000 out of poverty.
Working age benefits will increase by 6.7 per cent.
Sadly, the war in Ukraine continues but energy bills are back under control and I am proud our government offered £94 billion of support to help people with their bills.
We’ve got more doctors both in training and in work and a great new medical school open in Worcester training the doctors of the future.
We’ve recruited record levels of more police in West Mercia putting many more police on the streets.
West Worcestershire schools will be getting an additional £2.3 million this year.
Our plan is working and, as the chancellor presents his plans to the country, I will be speaking up for him and his ambitions for the years to come.
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