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Paul Burstow’s Reaction to the Autumn Statement
November 30, 2011 9:00 PM
Paul Burstow has welcomed the Autumn Statement, saying it will offer practical help to those who need it most, while steering the economy towards a stable recovery.
Delivered in the House of Commons today (TUE), the bi-annual economic forecast includes plans to increase the state pension and provide more free education to young children.
The statement confirmed that the Coalition will raise the basic state pension by £5.30 to £107.45 a week from April next year - the largest cash increase ever.
This move will benefit around 11 million pensioners nationally and more than 25,000 residents in the Sutton, Cheam and Worcester Park area.
Today's statement also revealed that the standard minimum income guarantee in the pension credit system will rise by 3.9% to £142.70 a week for single pensioners and £217.90 a week for pensioner couples from April next year.
Paul has championed the rights of older people for over a decade, both as a local MP and in his role as a Liberal Democrat health minister. Responding to the news, he said:
"The Liberal Democrats in Coalition are doing the right thing by pensioners and all those who need that little bit of help and support through difficult times.
"We are protecting the poorest people from the inflation rise connected to higher energy and food prices and will deliver on our triple guarantee to pensioners."
Other key measures in the Autumn Statement secured by the Liberal Democrats working in Coalition include:
An extension of free childcare up until the age of two for the poorest families.
- An additional 15% bank tax which will bring in an extra £300million for the economy.
- The cancellation of the 3p fuel duty rise in January 2012 - helping small business owners and commuters to save more.
- A £1bn "Youth Contract" announced by Liberal Democrat leader and Deputy Prime Minister, Nick Clegg last week to create jobs and apprenticeships for young people.
Yesterday (TUE) the Office for Budget Responsibility said growth had stalled due to higher-than-expected inflation which in turn had squeezed household incomes and consumer spending. The continuing Eurozone crisis is also likely to lead to tighter credit conditions for families and businesses. Taking this into consideration, the Liberal Democrats believe the Autumn Statement will restore stability to public finances and build the foundations for a stronger economy.
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