Gloucester’s Tory MP, Richard Graham, has expressed his optimism about the measures outlined in the Autumn Statement, emphasizing the positive impact of tax cuts and a rise in the minimum wage. Chancellor Jeremy Hunt’s announcements, which encompass the government’s tax and spending plans for the upcoming year, have been well-received by Graham.
Reacting to the statement, Graham estimated that the rise in the minimum wage could lift approximately 1.7 million individuals out of relative poverty. He highlighted the substantial benefits for the city, particularly in terms of stimulating economic growth.
Graham articulated that the reduction in national insurance contributions would lead to a noteworthy increase in take-home pay for workers, with some individuals set to gain as much as £450. He also praised the increase in the national living wage, affirming that it would result in a substantial annual boost for full-time workers on the minimum wage.
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Additionally, Graham welcomed the extended business rate exemptions and the positive implications for the self-employed stemming from the abolition of class two national insurance and the reduction of class four. He also noted the significance of measures to expedite the processing of planning applications, foreseeing a reassurance for people and businesses.
In his comments, Graham underscored the impact of research and development incentives, which are expected to benefit sectors such as auto, aerospace, and life sciences, particularly in the vicinity of Gloucester. He emphasized the positive outcomes for engineering companies and printers due to the capital allowances. Furthermore, he acknowledged the favorable impact of the reduction in the speed of payment for small businesses.
Amid acknowledging the challenging poll standings of his party, Graham emphasized that the judgment of Gloucester’s Tory leaders should be based on the strides they have made in redeveloping the city and addressing setbacks such as the sudden closure of GL1 and Oxstalls Sports Park. He highlighted key developments in the city, including the establishment of a city-center university campus, the introduction of a four-star hotel, and infrastructure enhancements.
However, Labour’s parliamentary candidate for Gloucester, Alex McIntyre, presented a contrasting view, expressing dissatisfaction on behalf of working people in the city. McIntyre portrayed them as worse off and disenchanted after enduring economic hardship during the Conservative government’s tenure. He outlined Labour’s plan to improve the financial well-being of families in Gloucester, emphasizing initiatives to reduce costs and create employment opportunities.