David Burrowes gives his analysis of Government’s tax and spending plans.

Local MP David Burrowes today delivered his verdict on the Budget, which sets out the Government’s plans for taxes and public spending.

David expressed concern at plans to increase taxes on families and local firms across Enfield Southgate.

• National Insurance will be increased for workers and for firms. This jobs tax will discourage businesses from hiring staff, cut people’s pay packets, and mean anyone earning £20,000 a year or more will be worse off.
• National debt will double to £1.4 trillion – this is equivalent to £22,500 of debt for every man, woman and child. Taxes are to rise by £1,000 for every family over the next two years.
• Fuel duty is up 2 pence per litre, and will continue to rise by more than inflation for the next four years, increasing the cost of travelling to work, taking children to school and going shopping.
• Business rates are rising by £1 billion in the middle of a recession. Business rates are the biggest cost for firms after rent and staff costs. Bills have soared for local firms since the beginning of April, and further large hikes are expected next year too.

David said:
“In these tough economic times, families and local firms across Enfield are going to feel the pinch. These aren’t taxes for the few; they are taxes for the many. At a time when people are losing their jobs or facing pay freezes, hard-working families now face smaller pay packets and a higher cost of living.”