Jenny Willott, the Liberal Democrat MP for Cardiff Central, believes the Autumn Statement provides for local residents in Cardiff Central and proves that the Lib Dems are building a Britain where everyone is given the opportunity to get on in life.
The Autumn Statement highlights the Coalition Government’s strategy to deal with the deficit, which has enabled the Government to pay for key Lib Dem priorities, including increasing the Personal Allowance to give basic rate taxpayers a further tax cut of £120, abolishing Employer National Insurance Contributions for apprentices aged under 25 and cutting stamp duty for the majority of people buying houses.
Also announced are plans to devolve business rates to Wales, to allow post-graduate students to access student loans for the first time, to refund VAT to hospices, to extend the Super Connected Cities Broadband scheme in Cardiff for 12 months and extend two British Business Bank schemes to unlock finances for small businesses across Wales.
Commenting, Jenny Willott MP, said:
“I was really pleased to hear some of the good news about budget forecasts that the Chancellor announced today. We are seeing more business investment than at first thought, more growth forecast and more jobs created. All of this is welcome news and means that there have been some positive announcements today about increased spending to help individuals and businesses across Cardiff.
“I’m particularly pleased that we are abolishing Employer National Insurance Contributions for apprentices aged under 25 and increasing the Personal Tax Allowance. More than 20,000 apprentices in Wales could benefit from the removal of Employer NICs and increasing the tax threshold even further will lift another 20,000 people out of income tax altogether in Wales and 1.1 million more will get another tax cut.
“I was also delighted by the announcement that postgraduate students would be allowed to apply for student loans. Thousands of students across Cardiff could benefit from this, making it easier for young people from less well-off backgrounds to take their studies further.”