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Hampshire Chronicle column - The Chancellor's Budget

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Thursday, 27 March, 2014
  • Hampshire Chronicle column
Hampshire Chronicle

From where I was sitting (which was right behind the Chancellor) last week's Budget looked like a good one.


You could be forgiven for thinking I, as a coalition MP, would say that but I've criticised this Government before and I will undoubtedly do so again.


In the weeks leading up to Budget day (this was my fifth) I look for a handful of measures which, through talking to constituents, I think we'd like to see and then I watch George Osborne like a hawk to spot the announcements likely to be of the greatest benefit to my constituency.


Strike one was the announced help for savers which will be met with relief by many. Countless retired people have said to me in recent years how low interest rates are hurting them, and given I never believed it should be a choice between savers or low mortgage rates for the families I also represent, the Chancellor had to do something creative.

So while the abolition of the 10p rate on savings income was welcome, the new expanded and combined ISA together with the new Pensioner Bond will be of huge interest to thousands of people over 65 locally.

 

Strike two was the rise in the personal allowance to £10,500, something I have argued passionately for within Government since being elected. I want people to keep more of their own money and that is a timeless value no-one owns. Since 2010 this policy means lower taxes for just over 40,000 in my constituency with around 400 people taken out of income tax altogether as a result of this Budget.

In media interviews afterwards, I described Budget 2014 as 'workmanlike' because I think the Chancellor deliberately (and wisely) stayed away from gimmicks and short-term announcements and focused on delivering a Budget that is part of our long-term economic plan.

Other key spots for me were the extension of the Help to Buy Scheme, which will now run until 2020 and the expansion of the Apprenticeships Grant to help employers take on young job-seekers. The range of support being made available to help local firms export to foreign markets was also welcome at centre-stage in this year's Budget.

And a new grant scheme will provide £20 million towards grants for repairs to cathedrals in this centenary year of the ending of the Great War is of course an opportunity for Winchester.

Finally, tucked in Budget week was a welcome judgement at the High Court about the future of the Eagle Star site at Micheldever Station. As I said to the Dever Society AGM, the judge could not have been clearer this land is not up for development. I hope everyone was listening!

Steve Brine MP

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