Frome MP slams budget
By Guest author
6th Mar 2024 | Local News
The Liberal Democrat MP for Somerton and Frome has accused the Chancellor of trying to "pull the wool over people's eyes", with income tax bills still set to rise for local people.
Somerton and Frome's Lib Dem MP has said that local residents will see through the Chancellor's attempt to deceive the public, adding that people don't want more "empty promises" from this Conservative government as their "local health services are crumbling".
Sarah Dyke, the Liberal Democrat MP for Somerton and Frome, said: "This Budget offers nothing for families and pensioners in Somerton and Frome who are facing spiralling mortgages and food shopping bills because of this Conservative government's mismanagement of our economy.
"The Chancellor's farcical attempt to pull the wool over people's eyes is not fooling anyone. People in Somerton and Frome know that their tax bills will remain sky-high after years of unfair tax hikes while our local health services are left to crumble.
"Voters are fed up with more empty promises from this Conservative government. We need real change and a general election so that we can finally kick this out-of-touch Conservative government out of office."
Main budget points:
National insurance contribution rate will be cut from 10% to 8% of pay from April.
This comes on top of a 2p cut in the autumn statement in November, which reduced the rate from 12% to 10%.
Regarding holiday lets, the Chancellor said he plans to end an initiative gives tax reliefs on properties being rented out to holidaymakers which make renting out to holidaymakers, such as Airbnb more profitable than to long-term tenants,
The earning threshold to get child benefit will be raised from £50,000 to £60,000. The top of a taper to withdraw the benefit will be raised to £80,000 from £60,000.
The non-dom tax status will be replaced from April 2025. The status is enjoyed by people who live in the UK but who have certain overseas links.
Duties on alcohol, due to rise by 3 per cent from August, will be frozen until February 2025.
Fuel duty to also remain frozen at its current level for another year, a 5p cut to fuel duty, which was introduced in 2022 and is due to run out this month, has been extended.
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