THIS MONTH an exciting package of tax cuts, pay increases and cost-of-living support will come into effect that will benefit people across Redditch and the villages.
Given the number of changes which will be taking effect, I wanted to set out how they might benefit you and your family.
I know the past few years have been difficult following the pandemic and Putin’s invasion of Ukraine. That’s why I’ve backed the difficult decisions taken by the Government that have seen inflation fall by more than half as the economy begins to turn a corner, placing us in a positive economic position facilitating tax cuts.
The National Living Wage will increase this month to £11.44, an increase of 9.8 per cent for those on the lowest pay, equivalent to an annual pay boost of £1,800, or £150 a month.
Families and parents are also set to benefit as the Government is cutting the High-Income Child Benefit Charge, putting up to £1,664 back into the pockets of hardworking families, assisting with the costs of raising a child.
As well as that, the first stage of the country’s largest expansion in childcare begins this month. Working parents of two-year-olds are now able to access 15 hours-a-week of government-funded childcare.
Pensioners are also set to benefit as the state pension increases by £900 this month following the Government’s commitment to the triple lock. This will boost the incomes of 15,723 pensioners in Redditch and the villages.
We’re also backing Redditch’s businesses too – the backbone of our economy.
That’s why the Government has frozen business rates for the fourth year in a row, reducing the amount businesses pay for their property to support them as the economy begins to turn a corner.
By freezing business rates for the fourth year in a row, we are saving a typical independent pub £11,800, helping to keep the price of a pint down, with the average cafe saving £5,700, delivering on our plan to cut inflation.
As you can see, we’re delivering on our plan to create a brighter future for you, your family and everyone across Redditch and the Villages.
Rachel Maclean
MP for Redditch
