‘Good news for workers and the poorest across Dagenham and Rainham’.

Dagenham and Rainham Conservative Parliamentary Prospective Candidate Sam Holland today shares his views on the recent Autumn Statement.

I am backing tax cuts for workers in the Autumn Statement. Here are some of the facts and raw numbers which will directly benefit workers whether employed or self-employed in Dagenham, Elm Park, South Hornchurch, Rainham and Wennington.

𝟏. 𝐂𝐮𝐭𝐭𝐢𝐧𝐠 𝐭𝐚𝐱𝐞𝐬 𝐟𝐨𝐫 𝐰𝐨𝐫𝐤𝐞𝐫𝐬 𝐟𝐫𝐨𝐦 𝐉𝐚𝐧𝐮𝐚𝐫𝐲, 𝐫𝐞𝐰𝐚𝐫𝐝𝐢𝐧𝐠𝐡𝐚𝐫𝐝 𝐰𝐨𝐫𝐤. The average worker earning £35,000 a year, will get a £450 tax cut thanks to a 2% cut in National Insurance contributions (NICs).

𝟐. 𝐂𝐮𝐭𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐬𝐢𝐦𝐩𝐥𝐢𝐟𝐲𝐢𝐧𝐠 𝐭𝐚𝐱 𝐟𝐨𝐫 𝐭𝐰𝐨 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞𝐬𝐞𝐥𝐟-𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐝, 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐨𝐮𝐧𝐭𝐫𝐲’𝐬𝐞𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬. Abolishing an entire class of NICs and cutting the rate of the NICs top rate from nine per cent to eight per cent – an average total saving of around £350 for someone earning £28,000 a year.

𝟑. 𝐂𝐮𝐭𝐭𝐢𝐧𝐠 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐭𝐚𝐱𝐞𝐬 𝐩𝐞𝐫𝐦𝐚𝐧𝐞𝐧𝐭𝐥𝐲 𝐛𝐲 £𝟏𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐲𝐞𝐚𝐫, 𝐝𝐞𝐥𝐢𝐯𝐞𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐭𝐚𝐱 𝐜𝐮𝐭 𝐢𝐧𝐦𝐨𝐝𝐞𝐫𝐧 𝐁𝐫𝐢𝐭𝐢𝐬𝐡 𝐡𝐢𝐬𝐭𝐨𝐫𝐲. Promise to make full expensing permanent now delivered. Making full expensing permanent enables businesses to invest for less and offset investments against their tax bills.

𝟒. 𝐑𝐞𝐝𝐮𝐜𝐢𝐧𝐠 𝐝𝐞𝐛𝐭, 𝐦𝐞𝐚𝐧𝐢𝐧𝐠 𝐰𝐞 𝐜𝐚𝐧 𝐬𝐩𝐞𝐧𝐝 𝐦𝐨𝐫𝐞 𝐦𝐨𝐧𝐞𝐲𝐨𝐧 𝐩𝐮𝐛𝐥𝐢𝐜 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬. The Office for Budget Responsibility (OBR) has forecast that the fiscal rule to have debt falling as a share of the economy will be met a year early, this means there is more money to spend on funding public services.

𝟓. 𝐂𝐮𝐭𝐭𝐢𝐧𝐠 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐫𝐚𝐭𝐞𝐬, 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐬𝐦𝐚𝐥𝐥 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬. Freezing the small business multiplier yet again, saving an average shop £1,650, and extending the Retail Hospitality and Leisure Relief for a year which supports businesses most commonly found on the highstreets such as shops and pubs.

𝟔. 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐋𝐢𝐯𝐢𝐧𝐠 𝐖𝐚𝐠𝐞 𝐭𝐨 𝐫𝐞𝐜𝐨𝐫𝐝 𝐥𝐞𝐯𝐞𝐥𝐬, 𝐞𝐧𝐝𝐢𝐧𝐠 𝐥𝐨𝐰 𝐚𝐧𝐝 𝐫𝐞𝐰𝐚𝐫𝐝𝐢𝐧𝐠 𝐡𝐚𝐫𝐝 𝐰𝐨𝐫𝐤. Delivering the largest ever cash increase to the National Living Wage, boosting it to £11.44 an hour. That is a 9.8 per cent increase, benefiting 2.7 million workers by an average £1,800 a year.

𝟕. 𝐇𝐞𝐥𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐯𝐮𝐥𝐧𝐞𝐫𝐚𝐛𝐥𝐞 𝐰𝐢𝐭𝐡 𝐚𝐧 𝐚𝐯𝐞𝐫𝐚𝐠𝐞𝐢𝐧𝐜𝐨𝐦𝐞 𝐛𝐨𝐨𝐬𝐭 𝐨𝐟 £𝟖𝟎𝟎, 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐟𝐚𝐦𝐢𝐥𝐢𝐞𝐬 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞𝐜𝐨𝐬𝐭 𝐨𝐟 𝐡𝐨𝐮𝐬𝐢𝐧𝐠. Supporting 1.6 million of the families most struggling with the cost of living by increasing the Local Housing Allowance. This means housing benefits are more representative of the private rental market and will deliver an average of £800 a year of support.

𝟖. 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐩𝐞𝐧𝐬𝐢𝐨𝐧𝐬, 𝐢𝐧 𝐥𝐢𝐧𝐞 𝐰𝐢𝐭𝐡 𝐨𝐮𝐫 𝐓𝐫𝐢𝐩𝐥𝐞 𝐋𝐨𝐜𝐤, 𝐛𝐲𝟖.𝟓 𝐩𝐞𝐫 𝐜𝐞𝐧𝐭, 𝐞𝐧𝐬𝐮𝐫𝐢𝐧𝐠 𝐝𝐢𝐠𝐧𝐢𝐭𝐲 𝐢𝐧 𝐨𝐥𝐝𝐞𝐫 𝐚𝐠𝐞 𝐟𝐨𝐫 𝐭𝐡𝐨𝐬𝐞𝐰𝐡𝐨 𝐡𝐚𝐯𝐞 𝐰𝐨𝐫𝐤𝐞𝐝 𝐭𝐡𝐞𝐢𝐫 𝐞𝐧𝐭𝐢𝐫𝐞 𝐥𝐢𝐯𝐞𝐬. Honouring the Triple Lock and uprating the State Pension by 8.5 per cent, this means the basic State Pension will be £3,750 higher than in 2010.

𝟗. 𝐅𝐫𝐞𝐞𝐳𝐢𝐧𝐠 𝐚𝐥𝐜𝐨𝐡𝐨𝐥 𝐝𝐮𝐭𝐲, 𝐚𝐥𝐥𝐞𝐯𝐢𝐚𝐭𝐢𝐧𝐠 𝐩𝐫𝐞𝐬𝐬𝐮𝐫𝐞 𝐨𝐧 𝐭𝐡𝐞𝐡𝐨𝐬𝐩𝐢𝐭𝐚𝐥𝐢𝐭𝐲 𝐬𝐞𝐜𝐭𝐨𝐫. Following the recent implementation of the alcohol reforms and uprating on 1 August 2023, alcohol duty will freeze until August 2024. The next alcohol duty uprating decision will be delayed until Spring Budget 2024.

𝟏𝟎. 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐚𝐥𝐥 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐚𝐠𝐞 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐢𝐧 𝐟𝐮𝐥𝐥 𝐛𝐲 𝟔.𝟕𝐩𝐞𝐫 𝐜𝐞𝐧𝐭, 𝐛𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐛𝐞𝐧𝐞𝐟𝐢𝐭 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐟𝐨𝐫 𝐚𝐫𝐨𝐮𝐧𝐝 𝟓.𝟓𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐡𝐨𝐮𝐬𝐞𝐡𝐨𝐥𝐝𝐬 𝐰𝐡𝐨 𝐫𝐞𝐜𝐞𝐢𝐯𝐞 𝐔𝐧𝐢𝐯𝐞𝐫𝐬𝐚𝐥 𝐂𝐫𝐞𝐝𝐢𝐭. As is standard, the Govt is uprating benefits in line with the September rate of inflation, this is an average increase of £470 a year.

𝟏𝟏. 𝐆𝐞𝐭𝐭𝐢𝐧𝐠 𝐩𝐞𝐨𝐩𝐥𝐞 𝐢𝐧𝐭𝐨 𝐰𝐨𝐫𝐤 𝐛𝐲 𝐫𝐞𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐰𝐞𝐥𝐟𝐚𝐫𝐞𝐚𝐧𝐝 𝐭𝐨𝐮𝐠𝐡𝐞𝐧𝐢𝐧𝐠 𝐮𝐩 𝐰𝐨𝐫𝐤 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬, 𝐞𝐧𝐬𝐮𝐫𝐢𝐧𝐠 𝐢𝐭𝐚𝐥𝐰𝐚𝐲𝐬 𝐩𝐚𝐲𝐬 𝐦𝐨𝐫𝐞 𝐭𝐨 𝐰𝐨𝐫𝐤 𝐫𝐚𝐭𝐡𝐞𝐫 𝐭𝐡𝐚𝐧 𝐛𝐞 𝐨𝐧 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬. Launching ‘Work Support Programme’ to keep more people in work and stem the flow of sickness-related inactivity. This includes benefit sanctions for those who do not take up employment.

𝟏𝟐. 𝐑𝐞𝐝𝐮𝐜𝐢𝐧𝐠 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐟𝐮𝐫𝐭𝐡𝐞𝐫, 𝐝𝐞𝐥𝐢𝐯𝐞𝐫𝐢𝐧𝐠 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦𝐜𝐨𝐬𝐭 𝐨𝐟 𝐥𝐢𝐯𝐢𝐧𝐠 𝐫𝐞𝐥𝐢𝐞𝐟 𝐟𝐨𝐫 𝐟𝐚𝐦𝐢𝐥𝐢𝐞𝐬. The OBR state that the package as a whole means inflation is forecast to be lower next year than they said at the Spring Budget.

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