Philip Dunne MP has welcomed a range of Government measures coming into effect this week to benefit working families in South Shropshire.
This week, the tax-free personal allowance will rise for the seventh year to £11,500, benefitting over 38,000 people in South Shropshire and meaning a typical basic rate taxpayer will pay £1,000 less income tax than in 2010.
As a result of changes to the personal allowance and higher rate threshold, over 2.5 million people in the West Midlands gain on average £187, and a total of 122,000 will have been taken out of income tax altogether, compared to 2015-16.
The National Living Wage – which delivered a pay rise to a million people last year – will rise again this week to £7.50: an income boost of over £500 for a full time worker in South Shropshire.
For families with young children up to £2,000 a year per child will now be provided through roll out of tax-free childcare, helping with childcare costs for families across the Ludlow Constituency
Hard-pressed savers will get a boost, with access to a new market-leading NS&I bond which will pay 2.2% on deposits up to £3,000.
Mr Dunne said: ‘We’ve come a long way in the last seven years – the number of local people relying on Jobseekers Allowance has more than halved, national unemployment is at its lowest for twelve years, and we’ve cut income tax for over 30 million people. But there is more to do to help people in South Shropshire and across the UK feel the benefits of the recovery, and make ends meet.
‘By giving the lowest paid a wage boost, taking more people out of income tax, boosting savings and helping with the cost of childcare, we’re putting ordinary working people at the heart of our plan for Britain: to build a stronger, fairer economy that works for everyone’.