It was a privilege to be in the chamber of the House of Commons to hear Rachel Reeves deliver Labour’s first Budget for fourteen years.
As well as setting out important measures, this was the first Budget in the 800 or so years our country has had a Chancellor of the Exchequer, that was delivered by a female Chancellor. A momentous day in many ways.
In the Budget, Rachel set out how we would fix the foundations of our country, get the economy growing and fund much needed improvements to our public services.
The Chancellor was clear that we will not return to austerity and instead invest in our country. Our public services saw the major cash boost they so desperately need, which I know will make a real difference to us here in Newton Aycliffe.
We have real problems with access to GP appointments and NHS dentists across the constituency. The Budget provided funding to create an extra 40,000 appointments a week, to help clear the 7 million waiting list left by the previous government.
Rachel also provided additional funding to rebuild schools. This is vital locally, particularly for Ferryhill School and others that have been hit by the crumbling concrete crisis.
This is something I’ve been campaigning for long before I was your MP and I’m delighted the Labour government are delivering it. The extra education funding will provide more teachers in our state schools, free breakfast clubs and more support for children with special educational needs (SEND).
I strongly welcome the announcement around SEND as there is a SEND crisis across the county and this is the number one issue our headteachers raise with me locally.
I was also pleased to see clear plans to make sure people have more money in their payslips at the end of the month. This is being achieved through increases in the National Minimum Wage and removing the freeze on the income tax threshold. The level at which people pay higher rates of tax will rise with inflation again from 2028, helping protect thousands of families from paying higher tax rates.
The state pension is set to increase by around £470 next year with the implementation of the Triple Lock. The government is also extending the Household Support Fund by £1bn to support those most in need.
The freezing of fuel duty and the continuation of the 5p cut will support motorists during the cost-of-living crisis and the much-needed increase of Carer’s Allowance will support lots of families locally.
Local businesses are being supported through the increase in the National Insurance Allowance, lifting thousands of small businesses across the country out of paying NI. Small businesses are the heart of our communities and this move will provide much needed support for our town centres.
Another important aspect of the Budget was the government’s commitment to address the injustices suffered by those on the Mineworkers’ Pension Scheme, victims of the infected blood scandal and the Post Office Horizon scandal. An £11bn financial package will make sure those affected will receive compensation.
Members of the Mineworkers’ Pension Scheme in our area will receive on average an additional £29 a week. This was something mentioned a great deal on the doorstep, and I have been making the case to the relevant ministers, so I’m delighted to see this happen.
This Budget is the start of a new chapter – making Britain better off with more money in people’s pockets, an NHS that is there for you when you need it and schools that can give our children the best possible chance in life. I’m really pleased that a number of important issues I’ve been raising with ministers were included in the Budget. I’ll continue to work hard to make sure our area sees the benefits of the new investment announced.
Alan Strickland, MP for Newton Aycliffe & Spennymoor.