Dom hearing from local businesses at a Federation of Small Businesses roundtable last year
Yesterday’s Budget was good news for Elmbridge residents – boosting small businesses, workers and public services, as we rise to the immediate challenge of Coronavirus.
The Chancellor announced measures to support the economy through Coronavirus. The government announced a £12 billion support package, including £5 billion which will be available for the NHS and other public services.
Statutory Sick Pay will be expanded, and it will become easier for the self-employed to claim benefits. To support businesses affected, the government has increased business rates discounts for retail premises, saving each eligible business up to £25,000, and announced an emergency loans scheme.
More broadly, residents across Elmbridge will benefit from a cut in National Insurance Contributions. Raising the threshold for National Insurance Contributions from £8,632 to £9,500 in April will cut the average Elmbridge resident’s National Insurance payments by £104 in 2020/21. This, alongside raising the National Living Wage by 6.2% to £8.72 in April, will put more money in residents’ pockets.
The Chancellor also announced significant new public investment. The NHS will enjoy a £6 billion boost over the next five years, on top of the £34 billion increase already announced. A new £2.5 billion Potholes Fund was also announced. I’ll be working hard to make sure Elmbridge receives its fair share of this funding, to deliver more GP appointments and repair local roads.