Mel Stride MP welcomed the budget delivered by Chancellor of the Exchequer Rishi Sunak on Wednesday (11/03/20), describing it as particularly good news for Devon. Citing the funding being made available to upgrade the A303, the suspension of rates for many businesses, another freeze in fuel duty and raising the amount someone has to earn before paying National Insurance Contributions, Mel said there were positives for the region’s economy as a whole and for individual family finances. The Government also pledged an additional £5 billion for the NHS to deal with coronavirus.” He explained:
“The major upgrades for the A303 will be a massive boost to our regional economy and taking 500,000 of the lowest paid workers out of paying National Insurance will disproportionately benefit Devon as we have some of the lowest wages in the country. In such a rural county, where many rely on their car for transport, another freeze in fuel duty will also help families with the cost of living.”
In his capacity as Chair of the Treasury Select Committee Mel, along with his cross-party committee of MPs, will be scrutinising the budget in more detail over the coming weeks. This will include the Chancellor appearing before the committee to answer questions. Mel has already pledged to look specifically at how treasury policies will meet the Government’s target of net zero carbon emissions by 2050.