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As you will know, the Budget has recently been announced and I wanted highlight just some of the key points and hear what you think about the measures the Government is taking to help people in Lincoln. Support for Employment - There will be a guaranteed job, training or work placement for all 18-24 year olds who reach 12 months unemployed to ensure no young people are left behind due to long-term unemployment. Support for Individuals - To help pensioners through this downturn, the Winter Fuel Allowance will be maintained at the higher level for another year - worth £250 for over 60s and £400 for over 80s. The Budget also supports savers who have put money aside, raising tax free ISA limits to over £10,000, for those aged 50 or over this year, and for everyone from next year. Support for Homebuyers - To help get the housing market moving the stamp duty holiday has been extended for all houses costing up to £175,000, until the end of the year. Support for the Environment - To invest in the future, the Government has set a legally binding 34% reduction in carbon emissions by 2020 and will invest £405 million to support low-carbon industries and advanced green manufacturing. Support for Consumers and Business - The Budget includes a vehicle scrappage scheme that will enable consumers who scrap vehicles older than ten years to replace them with new vehicles at a discount of £2,000. Once the economy is growing again we will need people on the highest income to contribute their fair share to keep the public finances on track so we can keep supporting public services for all. Therefore, from next year there will be a new rate of income tax of 50% for those who earn over £150,000 a year. This is a Budget for people on modest and middle incomes - there will be no income tax increases for anyone earning less than £100,000 . Your views really do matter – they help me take action both locally and at Westminster, so please take a moment to fill out this survey. Please don’t hestitate to contact me if you would like any more information on the Budget or on any other matter. With best wishes,
Gillian Merron Member of Parliament for Lincoln |
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