Moray MP Douglas Ross has hailed “a hugely positive” Spring Statement for the area from Chancellor Rishi Sunak.
In particular, Douglas was delighted to hear the Chancellor announce a 5p cut in fuel duty which will come into force tonight (Wednesday), and be in place for the next 12 months.
Douglas has also welcomed support for families struggling with the cost-of-living crisis, with the threshold for paying National Insurance raised by over £3,000.
This means nobody earning up to £12,570 will be paying a single penny of income tax or national insurance.
Rishi Sunak has also doubled the Household Support Fund to £1 billion which will help councils like Moray deliver support for the most vulnerable, with Barnett Consequentials from this fund being passed onto the SNP Government.
A cut in the basic rate of income tax will also come into force in 2024 from 20p to 19p; the first such cut in 18 years, putting more money in the hands of individuals in Moray.
Businesses in Moray will also benefit from Rishi Sunak’s £1,000 increase in the Employment Allowance to £5,000 as they aim to recover from the pandemic.
Moray MP Douglas Ross said:
“Yet again Rishi Sunak has stepped up and delivered for people and businesses across Moray.
“The largest fuel duty cut ever will be a hugely welcome boost to motorists living in our rural and remote communities who have seen the cost of filling up a tank soar in recent weeks.
“His moves to support motorists is in stark contrast to the SNP-Green Government who want to drive cars off the road.
“Rishi Sunak’s bold move to raise the National Insurance thresholds by £3,000 means a tax cut of several hundred pound for low income workers and families in Moray at this time of a cost-of-living crisis.
“Come July many more people in Moray will not be paying a penny in income tax or national insurance altogether.
“Furthermore, his support for businesses by increasing the employment allowance will be a significant boost as they look to recover from the pandemic.
“Looking further ahead, Rishi Sunak will be delivering a cut in the basic rate of income tax to put more money in the pocket of Moray taxpayers, which the SNP must now commit to matching.
“This was a hugely positive statement for Moray from the Chancellor at this time and I welcome the decisions he has taken to ease some of the pressure of the cost-of-living crisis, being felt by individuals and businesses in our communities across Moray.”