I know many of you will have been worrying about your energy bills and that’s why the government has stepped in by announcing a series of measures to help households and businesses cope with the current cost of living.
The package that the Chancellor has unveiled includes capping energy bills for households and businesses, reducing income tax and promoting job creation. I am sure this will be welcome news for many of you across Cannock Chase.
As part of the measures announced the Government has taken decisive action to support households. The Energy Price Guarantee means a typical household will save around £1,000 a year and businesses will pay less than half the wholesale prices expected this winter.
Over 30 million people will benefit from the Basic Rate of Income Tax cut, which will come into effect from April 2023. What’s more, a reduction in National Insurance contributions from November 2022 will allow people to keep more of their money. This means that a typical earner will pay around £430 less tax next year, and lower taxes for businesses will help them grow and create more jobs across the country.
I am also delighted that Staffordshire is on the list of 38 new ‘Investment Zones’ being created across the country, which will help deliver infrastructure like roads, railways, and broadband more quickly by unlocking private investment and cutting red tape. This is brilliant news for us here in Staffordshire and will undoubtedly create job opportunities and boost our county’s economy.
In the short term, the support announced by the Government will help households and businesses through this difficult period.
As ever, please do not hesitate to raise any issues with me by telephone on 01543 877142, via e-mail at email@example.com or in writing to 11a Market Street, Hednesford, Cannock, Staffordshire, WS12 1AY.