2nd November 2024

Well in light of people downplaying the budget that Reeves has put her neck on the line for, the following is what our Labour member of parliament Josh Fenton-Glenn has written on F/B. I note that the inheritance tax as far as small farms are concerned has not been addressed. But never worry dear people, I shall keep an eye on that. And with all those clever lawyers around I am sure the problem will be overcome.

Two sides will interpret the figures, Mr/Mrs Glum and then there are the people who accept that life has some difficulties. Count your blessings.

"AN HISTORIC BUDGET FOR CALDER VALLEY AND THE NHS

Today I sat in the House of Commons for the first budget delivered by a female chancellor in this country's history. The budget was delivered against a backdrop of a damaged economy and a public realm on it’s knees. It was a budget rooted in reality, based on the first spending review of all government departments since 2021. So this was our chance to balance the economy and reverse austerity of over a decade. Cuts don’t show when you wake up the next day, but over years not one of us can fail to see the impact on the country. It is a budget for our NHS and for the people of Calder Valley.

The budget announced today was a bold plan to stabilise public finances, investing to drive growth. It addresses the issues we face here in Calder Valley, whilst protecting your wage slip. There is a huge amount to cover, but here are some of the key points for our flood-prone constituency of rural areas and market towns:

An increase in the National Living Wage of 6.7% to £12.21 per hour from April 2025. No increase in basic, higher or additional rates of income tax, National Insurance or VAT.

£1 billion to extend the Household Support Fund and Discretionary Housing Payments in 2025-26, which will be used by local authorities to address immediate hardship and crisis.

Maintain the state pension triple lock for the duration of this Parliament. The basic and new state pension will increase by 4.1% in 2025/26, meaning over 12 million pensioners will receive up to £470 per year.

Working age benefits to be increased in 2025/26 by the consumer price index inflation rate of 1.7% and a new fair repayment rate which caps debt repayments made in Universal Credit.

Freeze on fuel duty and extending the temporary 5p cut for one year, meaning you will pay no more at the pumps.

Fairer business rates, with specific support for small and medium-sized businesses and those in retail, hospitality and leisure. Alongside this, support for small businesses to implement changes to employer National Insurance payments, including increasing employment allowance.

Support for our small brewers in the Calder Valley through a cut to alcohol duty on draught products.

More opportunities to own a home. Alongside an ambitious programme of house building, stamp duty will increase for second homes, buy-to-let, and commercial purchases of residential property.

Investment in the natural environment and in climate mitigation and adaptation to protect the economy from the impacts of climate change, including a more productive and environmentally sustainable agricultural sector in England.

Investment in flood resilience to support the building of new flood defences alongside the maintenance of existing assets to protect communities.

Investment in improving public transport, including the electrification of the TransPennine route. This will mean fast connections from Huddersfield, brilliant news for residents in the Lower Valley.

Real terms increase in core local government spending power of around 3.2%, including at least £600 million of new grant funding to support social care. Longer-term reforms to allow local councils like Calderdale to plan for the future.

£6.7 billion of capital funding in 2025/26 for education in England, a real terms increase of 19% from 2024/25. This includes £1.4 billion for the school rebuilding programme, an increase of £550 million on this year. There is also a £1 billion uplift for SEND.

And the greatest investment priority of all for this government, our NHS. It should be there when we need it. Spending will increase by £22.6 billion from 2023/24 to 2025/26. This provides a two-year average real terms NHS growth rate of 4.0%, the highest since before 2010 (excluding the pandemic). This will support the NHS to deliver 40,000 extra elective appointments a week and make progress towards the commitment that patients should expect to wait no longer than 18 weeks from referral to consultant-led treatment.

There is so much more to say, and in the coming weeks I’ll be seeking to clarify some of the finer details in terms of impact for the projects here. But for now, I just wanted to take a moment to highlight Labour’s ambition for the country. Times are still tough, but in the longer term this will be transformative and I’m excited to work to deliver it.

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