Blake Stephenson MP launches survey to listen to Mid Bedfordshire's residents views of Budget statement
Local MP Blake Stephenson wants to hear from the people of Mid Bedfordshire about their views of the Chancellor's Budget statement 30th October.
Chancellor Rachel Reeves set out the new Labour Government's plans in the House of Commons, including £22 billion for the NHS.
The Budget statement also included overall taxes increasing by £40 billion, the largest ever rise, a increase National Insurance for employers by 1.5 percentage points, a 6.7% increase in the National Minimum Wage, the introduction of VAT on private school fees, an increase to Capital Gains Tax, maintaining the Fuel Duty freeze and farms being dragged into paying inheritance tax.
On top of this the bus fare cap will be increased to £3, the income tax threshold freeze will be maintained until 2028 and East-West Rail will be completed from Oxford to Cambridge.
The Office for Budget Responsibility has said that following the Budget statement the tax burden will be the highest on record, borrowing will be higher than forecast under the last Government and growth will be lower in the medium term than forecast under the previous Government.
Its forecast also shows inflation and interest rates will both be higher as a result of the Budget.
Blake is planning on speaking in debates on the Budget in the coming days and weeks and is keen to hear views from Mid Bedfordshire constituents to help develop his response.
In the survey he is also keen to understand whether residents feel they will be better of worse off as a result of this Budget.
The Mid Befordshire MP said: "I've been in the House of Commons chamber listening to the Chancellor set out her Budget and I'm going to take the time to digest it in a lot more detail before taking part in debates in the coming days to stand up for the people and businesses of Mid Bedfordshire.
"That's why I want to hear from residents in Mid Bedfordshire about your thoughts on the Budget so I can understand what you are concerned or pleased about so please do take the time to fill in my survey to help me formulate my response to the Budget."
You can take part in Blake's survey at www.blakestephenson.uk/budget-2024-survey