Mark Garnier, MP for Wyre Forest, voices his support for the cost neutral measures the government is taking to reduce the country’s deficit and promote economic growth. Mark also condemned the figures showing that labour’s legacy was far worse than the Coalition originally thought when they first took power in May.
Speaking as he left the chamber after the statement Mark said:
“Even with the OBR’s dismal re-assessment of the structural deficit left to us by labour, coupled with the economic headwinds from Europe, the Chancellor has managed to pull out something good from his Autumn Statement. Within massive financial constraints he has announced measures to help businesses, encourage growth, boost employment and ease the burden on families. These include:
· An increased levy on the banks in January
· a credit easing programme to underwrite up to £40bn in low-interest loans to small and medium-sized firms
· A £1bn 'youth contract' to subsidise six-month work placements for 410,000 young people
· A £1bn boost for the Regional Growth regeneration fund
· Childcare places for most deprived two-year olds in England doubled to 260,000
· 100 additional free schools to be built with £1.2bn spending on school buildings.
· cancelled a planned 3p-a-litre rise in fuel duty in January
· £400m scheme to kick-start stalled construction projects in England
· 50% discount for social tenants wanting to buy their own homes
· An extra £5bn over three years to fund 35 road and rail projects across England
“It is crucial that the proposals are cost neutral in order to maintain this country’s excellent credit rating and I am aware that we cannot transform our economic situation overnight. Nevertheless, this is a significant step in the right direction to putting our country’s finances back on track.”