Full Version: PC 22 - Budget 2009
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What do you think of the Budget?

Deadline is 23:59 on the 1st of March.
Admittedly this is a budget, where tough choices had to be made, but, I am very proud of the good that this budget will do for the most vulnerable in the country and that it charts a sustainable course back to growth and for helping people get back into work. I'm especially proud, that we're meeting our commitment to the NHS, ensuring that it shall continue to meet and exceed targets. We shall have, over 500 more doctors, over 3000 more nurses and 128 new facilities including the fifth large hospital in the UK, that is this government delivering, in the toughest times, the funding and the facilities the NHS needs to deliver for everyone.
It was an honour to present a budget to the Commons, the first of a female Chancellor in our nations long history. The Government had to make some difficult decisions, but we made them none the less. We are going to invest in people, invest in Britain and invest in the future.

Ensuring that people have the money they need to live on, even as we see the global economic downturn threaten jobs in the UK, we will be raising the personal allowance for everyone earning under £100,000 a year to £8,200, meaning people will have £2,400 more tax free income this year, an increase of 41%. We are combining that with lifting the lower threshold of National Insurance to £100 a week and reducing the rate to 10%, so can earn an additional £780 a year. We recognise that the best way to help people during this downturn is not to give money to the banks, not to give money to businesses, but to ensure everyone has £3,180 more in their pocket before they even start paying taxes to the Government.

UK Banks invested enormous sums in lending due backed by mortgages, they made huge profits whilst their Directors and Shareholders collected handsome bonuses, right until the housing market collapsed, contributing to the average house price going from £183,700 to just £156,329 in a single year. Home owners and buyers, especially those first time buyers, need a leg up to help the housing market both stabilise and recover swiftly, that is why we will make every property under £160,000, free of stamp duty.

I make no bones about it, we are cutting £50.8 billion of taxes, and spending an additional £38.1 billion in infrastructure, Departmental spending, welfare and our public services, to ensure this downturn does not cripple them. We will weather this storm and be better off for the decisions this Labour Government have made today.