Anne Marie Morris MP today welcomed measures in George Osborne’s 5th budget, which will be of real help to families and businesses in Teignbridge.
“I was delighted that the Chancellor recognised that we have to do more for savers, and the prudent folk who have put money aside for when they reach pension age. I was delighted at his reform of ISAs, which extended the savings threshold to £15,000 and allowed a combination of cash and stocks and shares. I also welcome the introduction of a new Pensions Bond, and the abolishing of the 10p starting rate on income from savings. There will now be no tax whatsoever on these savings! Retired constituents often tell me about the problems with buying an annuity, and I am delighted with the new flexibility introduced into pension policies which means pensioners have far more flexibility- and at far less cost – on when they draw their pensions”
“The increase in the Personal Allowance to £10,500 is good news for people getting back into work. With many hundreds of bars, restaurants and pubs in Teignbridge, I would like to praise the decision to reduce Beer Duty by 1p. I also congratulate the Chancellor for the clever way that he has used the LIBOR rate fine money to benefit very deserving local search and rescue and lifeboat services such as ours – a good example of creative thinking that will help a very deserving cause!”