TODAY’s mini budget with a penny in the pound reduction in basic rate income tax and the abolition of the top 45 per cent has been condemned by the Labor MP for Blackburn for not doing much to help the hard work.
Kate Hollern has warned that many of her constituents will be worse off.
His Tory counterparts in East Lancashire hailed Chancellor Kwasi Kwarteng’s changes as “bold” moves to boost the economy after the coronavirus pandemic.
And they hailed plans to create 38 low tax and red tape investment zones as an opportunity for east Lancashire.
Ms Hollern said: “The mini budget has done little to support families in East Lancashire hard.
“The government is introducing tax cuts that benefit higher income people more than lower income people.
“A person with an income of £100,000 a year will earn £1,000 while someone earning £20,000 will only earn £93 – just £1.79 a week.
“It’s pretty obvious that hardly anyone in my constituency of Blackburn will be better off – most will be even worse off.
“A dark fairy tale with no happy ending: the rich get a carrot and the poor get a stick.”
Conservative MP for Hyndburn, Sara Britcliffe, said: “The declaration represents both protecting voters and freeing our economy.
“The announcement that energy prices will be capped at £2,500 a year and the £400 energy payment will continue means voters will save an average of £1,400 a year on their bills.
“Voters’ pay slips will be boosted by cuts to the basic rate of income tax and National Insurance by an average of £345 over the next financial year.
“The Investment Zones announcement means I can work to see how Hyndburn and Haslingden can benefit from low-tax, high-growth zones that offer great jobs and opportunities.”
Jake Berry, MP for Rossendale and Darwen and Chairman of the Conservative Party, said on Twitter: “Our growth plan set out by Kwasi Kwarteng is a bold and exciting plan that lowers your taxes and unlocks Britain’s economic potential.”
Burnley Tory MP Antony Higginbotham said: ‘It’s time to be bold.
“That’s why this unapologetic focus on growth and household income is so welcome. The cut in income tax and National Insurance, and the energy cap are worth thousands of dollars for hard-working families in Burnley and Padiham.
“It was fantastic to see Lancashire being singled out as a potential investment area.”
Pendle MP and Upgrading Minister Andrew Stephenson said: “Reducing everyone’s energy bills by £1,400 this year will be welcomed by local families.
“I think the investment areas offer a great opportunity for regeneration within Pendle and East Lancashire.”
Tory MP for Ribble Valley and Deputy Speaker of the House of Commons Nigel Evans: “I will ensure that any residents who contact me with any comments on how it will impact them will directly their concerns to the Chancellor.”