Isle of Wight Conservative MP responds to the Budget Statement

The Isle of Wight Conservative MP welcomes the Conservative Chancellor’s Budget. See within for details he has picked out to highlight

Rishi Sunak standing in front of Houses of Parliament

Following yesterday’s budget announcement, Isle of Wight Conservative MP, Bob Seely shared his response. In his own words. Ed


I welcome Rishi’s Budget Statement.

Many Islanders and Island businesses will be supported by the extensive measures announced by the Chancellor. The Government has recently set out a road map to gradually lift lockdown, and this Budget Statement has set out strong measures to get our economy back on track.

Extension of the Furlough scheme
Firstly, the budget will support both employed and self-employed Islanders. The extension of the Furlough scheme to September, three months after a full lift of lockdown, gives businesses time to recover and bring Islanders back into work.

The Government is also providing additional support for entrepreneurs, providing two further grants that would also benefit those who became self-employed last year.

National living wage – £8.91 per hour
The increase in National living wage to £8.91 will give working families a rise in disposable income, worth almost £350 a year.

Homebuyers
Islanders will also be supported when purchasing homes. The Government has extended the stamp duty holiday for a further three months to allow for those completing purchases to finish on time.

Additionally, it is also providing a mortgage guarantee to encourage banks to provide mortgages with a 5% deposit helping first time buyers. 

Support for businesses
We’ve set out extensive support for tourism and hospitality businesses. The 5% reduced rate of VAT for hospitality and tourism has extended for a further six months to the end of September and will then be 12.5% for the next six months.

Secondly, the government will provide reopening grants to businesses of up to £18,000 to restart after lockdown.

Thirdly, the 100% business rates holiday will continue until June and then at a 66% reduction for the rest of the year.

Solent freeport
I very much welcome the announcement of a freeport in the Solent region, covering much of the Isle of Wight, and for which I have been pressing Government.

The Solent Freeport will be critical especially after the pandemic as it will increase investment and businesses on the Island through lower taxes and cheaper customs.

Arts and culture
Festivals and Arts are a key part of Island life, the £700m provided by the government should allow for arts and culture to resume.

This isn’t just important for the Island’s economy, but also our quality of life and mental health too.

Community Ownership Fund
I welcome the £150 million Community Ownership Fund. These funds will support our local leisure facilities and businesses that bind our communities together.

I will be working closely with the council to bid for the Levelling Up and Shared Prosperity Funds that can deliver transformational change to parts of the Island through regeneration.

A sense of hope
With a clear strategy now in place to lift lockdown and the Covid-19 vaccinations well under way, I believe that we can look forward to the rest of this year with a sense of hope.

I will continue to work with both local and national government to get the best deal for the Island.

Image: communitiesuk under CC BY 2.0

Thursday, 4th March, 2021 7:55am

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Filed under: Island-wide, Isle of Wight News, Top story

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19 Comments on "Isle of Wight Conservative MP responds to the Budget Statement"

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andy

What about our NHS? Which after being decimated over the last decade, now faces a huge backlog of work treating patients whose operations were put on hold during 2020, with even less money than they received last year.

chausettes
Translated thoughts of Bob: “But, but, but… er, CLAPPING! Come on you ungrateful s*ds, clap louder – it’s unpatriotic if you don’t clap!” “Island Deal? What’s that? Ooh, look – a red squirrel!” “Funding for my mates at the yacht clubs and Cowes week Ltd? Sure thing, but what I really want you to hear about is China – it really should concern Island residents – I… Read more »
Steve Goodman

And what about the hundreds of thousands of pounds paid out today for the Con’s ministerial bullying which the IOW con MP continues to refuse to respond to?

(Link to follow for last November’s OTW feature of the open letter about Priti Patel’s costly behaviour)

chausettes
I actually have a response from Bob on that very issue re. Priti Patel and her bullying behaviour. It took several weeks of chasing, but as you would expect, it’s the usual politician’s answer and does not condemn her for what she did. If anybody else out there had a written response from Bob on the Patel/bullying issue, I’d love to see it – I’d like to… Read more »
Benny C

How about freezing Councillors expenses and a tax on local government incompetence? We would be awash with cash.

septua
It is Councillors’ allowances that need to be frozen or reduced. They were first introduced some years ago to attract a wider and better qualified and experienced range of councillors. That has not happened, so why not scrap allowances and go back to the voluntary system in line with voluntary organisations. Expenses are a different matter – councillors need to be reimbursed for out-of-pocket costs incurred whilst… Read more »
snowwolf1

Totally agree, that way we will get hopefully people who are interested in the Island and residents. The voluntary system used to have the occasional “self helper” for their own interests but were soon booted out. I have been saying this for years that as soon as allowances/salary came into play we would get everyone who didn’t really care.

Rowan

This article is about the national budget, so why use it as an excuse to bash the local council?

snowwolf1

Why not our budget comes from the national budget in some areas, the pot may well be sub divided but in the end it is all tax payers money.

chausettes

Rowan, the local council is funded via central government. It is perfectly acceptable (and perhaps more relevant) to cite issues with a Local Authority when offering an opinion on a National budget! I dare say the ruling local councillors will themselves point to the national picture as an excuse for their own local failings, so I don’t see any problem with us drawing parallels.

Colin
Fiscal management? Ha! Each year the personal allowance has gone up by a small amount. And each year my council tax has gone up by a similar net amount. I expect those on the “living wage” have a similar experience. Anyone with low disposable income will shudder at the thought of less money to live on. High time that the government properly taxed the accountancy firms who… Read more »
Rowan

Agreed, though council tax isn’t directly to do with this article – the reason council tax has to go up is because national government has cut funding to local government.

Spartacus

So you welcome the budget how insulting . After a year of working flat out keeping us safe and putting their own lives at risk this heartless Tory Government think our NHS staff deserve a measly 1% pay rise. This is an outrage shame on this Government.

Rowan

Millions of people are still getting no help at all. To take just two examples: self-employed people who’ve been self-employed for less than a year; and carers who look after their families and friends.

We could do with a universal basic income – help for everybody, so that nobody ever has to worry about money.

movinon

Social care? Anything? You remember, that thing the Tories keep promising they are about to solve? How many years is it now? Johnson came to power promising he had a great plan about to be unveiled. Where is it?

Rowan
Agreed. There are millions of people needing care, but having to pay for it themselves because it’s labelled ‘social care’ instead of ‘healthcare’, or left without proper care because funding for local councils has been cut in half in the last decade. And people who care for their families or friends get no funding at all if they do less than 35 hours a week, or have… Read more »
Angela Hewitt

Good Grief. Is he still here?!!

snowwolf1

not for long :-)