Wednesday, 18 December 2013

Autumn Statement: This Recovery Would Not Be Happening Without The Liberal Democrats

This Autumn Statement shows that Britain is on its way back. We are sticking to our plans to make sure this is a recovery that is built to last. That is the only way to improve living standards.

Our economy is growing because of the hard work of people and businesses throughout Britain. The Coalition's economic plan is the rock on which our recovery is being built.

This Autumn Statement:
Helps with the cost of living

  • by freezing fuel duty for the rest of the Parliament
  • by cutting energy bills by £50
  • by capping rail fares at inflation in 2014
  • by delivering Free School Meals for all 5-7 year olds – saving parents £400 a year per child

Helps the high street and businesses

  • by giving small retailers a £1,000 business rates rebate
  • by capping business rates at CPI in 2014
  • by introducing a 50% discount from business rates for new occupants of previously empty retail premises for 18 months

Helps young people

  • by abolishing employer National Insurance Contributions for everyone under 21
  • by allowing 16 and 17 year olds to use Job Centre Plus
  • by lifting the cap on the number of students who can go to university
  • by providing resources for an extra 20,000 apprenticeships

The biggest crack down on aggressive tax avoidance and evasion of this Parliament

  • bringing in £6.8bn over the forecast period
  • introducing Capital Gains Tax on non-residents
  • preventing employment intermediaries from disguising employment as self-employment to avoid tax
  • immediately closing a further five corporation tax loopholes

Increases housing supply and support home ownership

  • by funding infrastructure to unlock large housing sites,
  • by increasing Local Authority housing revenue account borrowing limits on a competitive basis
  • by increasing the funding available for new affordable homes from the sale of vacant high value social housing

Reinforces the Government’s commitment to deficit reduction

  • The fiscal mandate will be achieved a year early, in 2017-18 and will be in surplus by 1.6% of GDP in 2018-19
  • Public sector net debt as a percentage of GDP will be falling in 2016-17, a year later than set out in the supplementary debt target, but both a year earlier and around 6ppts lower than the peak level forecast at Budget 2013
  • Public Sector Net Borrowing (PSNB) will be close to balance in 2018-19

If you ignore the Conservatives’ married couples tax break this is a Liberal Democrat Autumn Statement through and through.